2024 Jeep Compass Gets a Major Price Drop to $27,495 Starting MSRP

Jeep is dropping prices across its lineup to try and get its sales back on track

(Images: Stellantis | Jeep)

The 2024 Jeep Compass already saw some changes and a price drop for the new year, but now it’s another cut.

If you’ve been looking around the new car market lately, I certainly don’t need to tell you that buying even a compact SUV can be an expensive prospect. Fortunately, Jeep’s entry-level Compass is getting more competitive in the space, thanks to another price drop that’s now live on the automaker’s configurator page. In fact, the base Sport model now comes in at $27,495, including the obligatory $1,595 destination fee.

When you consider the Compass comes with standard all-wheel drive, it’s now one of the only players in the space with an asking price below $30,000. While the Sport kicks off the range, you do still get the Latitude, Latitude Lux, Limited and Trailhawk if you want to pack in more features or better off-road capability.

Depending on the trim, price drops range from $2,500 to $2,930 across the board:

TrimNew 2024 MY MSRPDifference
Latitude Lux$33,490-$2,645

After a tumultuous couple years of insanely high prices, it’s also worth noting the potential savings don’t stop there. As of late February, Jeep is offering a “Select Inventory Bonus Cash” discount of $2,000 if you pull a Compass out of existing dealer inventory, and another $1,000 off if you finance through Chrysler Capital. Of course, either incentive depends on exactly what you want and your financing terms if you aren’t paying for the car outright, but getting both those options means you could get a Trailhawk for $31,490.

All 2024 Jeep Compass models get a 2.0-liter turbocharged engine, same as before. In addition to standard all-wheel drive, you also get 200 horsepower and 221 lb-ft of torque, which is fairly competitive in this class, especially for the money.

Now that the Renegade is no longer part of Jeep’s U.S. lineup, the Compass (which itself replaced the Patriot when this generation launched in 2017) now functions as the gateway to the brand. Even before this price drop, Compass sales were up 12% year-over-year for 2023, and it was the only model other than the Grand Cherokee to gain ground. (Jeep also just significantly dropped Grand Cherokee prices.)

With a far more attractive MSRP now on the table, I suspect the model will continue to pick up momentum as automakers look to post positive sales volumes when the quarterly reports come out in April. Will it work in the long-term? We’ll have to wait and see, particularly if interest rates remain relatively high compared to a few years ago.