I have in recent past spotted many lifted cars, what are the advantages of this.

well, a raised car is usually fitted with suspension lift kits. lift kit is a collection of springs that raise the body of the car above its normal frame. the springs serve to reduce the impact of rough terrain on your car, they reduce the impact of collision in the event of an accident and increase the aesthetic appeal of your jeep. http://4wheelonline.com/ProCompSuspensionLiftKits.459

No advantage what so ever! Cosmetic only. In my opnion a pure waste of time and money! However, what ever floats your boat is what I say.

Advantages: Drive off road over boulders/trees etc and look cool mainly. Disadvantages: Burn more gas, pay lot more for tires more often, and overall handleing sucks,