Did Used Jeeps Drop By 23%?

[Bmeister]

A market correction back to sane prices does not equal recession, IMO. GDP growth and strong job market suggests otherwise.

True, but the jobs reports are estimates and are not in synch with the layoffs and business closures I continue seeing. My personal thought is that the estimates are false to prevent a panic; if people panic and stop spending the whole charade crashes and it will be worse than the Covid shutdowns.

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[wrc777]

I have an '18 JLUR fully loaded. I have 54k miles. I'm being told and shown my value is at $40k, down from $45k last year this time.

What are you using to get your numbers? I'm using KBB and Edmund's.

I just tried to trade our 2021 JLUR with 27k miles on it using kbb range of 44-46k. Most offers were around 37k and I was offered up to 40k by one dealer that I think really wanted to move the Wagoneer I was interested in. So don't trust that kbb number. On the other hand I see a lot of them listed in the high 40s. I don't know if dealers don't want to give out higher numbers right now because they think the market is going down or if they have too much inventory they paid too much for or what.

 

[TheRaven]

I just tried to trade our 2021 JLUR with 27k miles on it using kbb range of 44-46k. Most offers were around 37k and I was offered up to 40k by one dealer that I think really wanted to move the Wagoneer I was interested in. So don't trust that kbb number. On the other hand I see a lot of them listed in the high 40s. I don't know if dealers don't want to give out higher numbers right now because they think the market is going down or if they have too much inventory they paid too much for or what.

This is one of the big issues right now - there's a huge discrepancy between "wholesale" and "retail". Dealers are still getting big bucks for used vehicles, but they just aren't willing to offer same on the buying end. When I traded my Challenger, KBB trade in range was $44-46k, by far the best actual offer I got was $42 from Vroom. Most dealers were in the $36-38k range. I knew this was complete BS, I even told the dealers "you're going to turn around and put this thing on your lot for $50k and it'll sell in three days!" but they said NO WAY and wouldn't budge. So in the end I took the Vroom offer only to watch Vroom list it for $52k. It was sold in a matter of hours.

It appears that we're still in that middle ground where dealers aren't desperate for inventory, but options are still scarce enough that people are willing to pay - even with high interest rates. I imagine that dealers will try to maintain this "balance" as long as possible.

 

[R3TRO]

Edit: I paid $43k for it November of 2021
KBB listed mine at $37,000, but I think once they see it, they might offer me like 9...

I've actually been wanting to take it to a trusted local off-road dealership, and going in acting all serious, ask them what they'd offer me for it for as a trade-in. I honestly feel like I'd get a offer somewhere around the 12K range. Pretty much all the plastic trimming in the interior is gone. Like thrown away gone, and my rear seats are gone as well, like also in the trash gone. I still have the front grill and the tailgate, though I wouldn't tell them that those are included.

One of the hardest core JLs I've ever seen and you park it at a mall for the picture.... I'll assume you did that on purpose?! Lol... good stuff.

 

[Tredsdert]

One of the hardest core JLs I've ever seen and you park it at a mall for the picture.... I'll assume you did that on purpose?! Lol... good stuff.

Thanks guy, that's quite the compliment!

It doesn't really show up in that photo, but if you go to that plaza at night, they have these overhead lights that just make cars look amazing. I guess your car also has to be clean, so that really wasn't working in my favor. But yeah it's like right across the street from my job.

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