I was just offered $51,500 by a dealer...

[jlang]

I would sell high and hold if possible. I dumped my 2019 Rubicon for 6k more than I paid for it.

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[pablo_max3045]

I told her to go move back with her parents.

And... did she?

 

[JSFoster75]

I just entered the information for my 2021 JLURXR with 500 miles. They offered me 2k less than what you got for your 2019 with 30k+...

Try replying to the email they sent you with “decline“.

 

[JSFoster75]

I read this and understand your payment situation, but I am not sure of your question. I am not sure about the givemeyourvin, you may want to search the BBB on them, as they have several complaints. So for reference, if you trade-in your car and purchase a new $12,000 you are looking at just south of $1,000 tax. I did something similar and ended up trading in getting about $500 less including tax, but no hassle from selling it one place, and going to another to buy. Hope that makes sense. Now, what is your question?

not sure there really is a question other than just trying to determine in my own mind if I really want to unload my jeep to save on monthly payments at this time… Actually, they’re kind of was a question but got it deleted by a moderator LOL

 

[pablo_max3045]

I have a 2019 Mojito JLUR with 31,500 miles on it, https://givemethevin.com/ offered me $51,500 for it as a straight out purchase (or I can work with one of their dealerships on a trade)...

Factory Options on my Jeep:

• Adaptive Cruise Control
• Leather
• 8.4" UConnect
• Proximity Door Locks
• Steel Bumpers
• LED Lighting
• Paint Matched Hard Top & Fenders
• 2.0L 4cyl E-torque w/8 Speed Auto Trans
• Blind Spot Monitoring & Parking Sensors
• Headliners

Aftermarket options:

• Front Bumper Hoop
• Rough Country 9500S Winch
• 6 wirelessly controlled LED Pods (Trigger Six Shooter Plus)
• 8 White/Amber Strobe Lights
• Tow Hitch with 4-Pin Flat Connector
• ACE Rock Rails/Sliders
• Brawlee rear LED Light Bar (Color changing)

Here's my hang up... I'd like to sell it outright for $55,000, but in TN I would only pay tax on the difference. If I trade for a vehicle that costs less than the trade-in value, I wouldn't pay any taxes. Right now I have enough equity in the Jeep to trade it for a $12,000 car and I could completely eliminate my payment and save myself the $800+/mo that I pay on it... (I overpay my bi-weekly payments)

Personally I think that payments should not be the main focus when considering financial decisions.
I'd be more concerned with the interest rates and total amount paid over the course of the loan.

 

[cavguy]

Not your exact situation, but I tried to sell a leased vehicle to givemeyourvin as they were offering much more than the payoff, but the guy I was working with from the company was extremely lazy and a true time waster! Customer service I would rate at a 1 out of 10.

 

[pablo_max3045]

I’m a big Dave Ramsey fan so I’m all about being debt free. Figure out what your goals are for the next few years, and if you can achieve them by keeping the Jeep by all means do so. If your goals can’t be met with the Jeep and you need to make some tough decisions there is absolutely nothing wrong with that either.

Don't know who Dave Ramsey is, but I would say that statement is only sort of right.
You should definitely avoid high interest debt.
If you can borrow a lot of money at a low rate, then it is pretty dumb not to.
For example, my wife and I could have paid cash for our house. But why they hell would we do that? We have a very low interest rate and that additional capital goes towards invest properties (the income of which pays all the mortgages) and other items in our portfolio, which would be impossible if we decided we must be debt free.
Debt, when managed properly is a wealth builder.

 

[goose77]

I just sold my 2018 8000 mile JL Sahara and ordered a fully loaded 21 Rubicon from Gupton. It will cost me roughly $5k with taxes etc when its all done. Cars are worth more than ever right now, but it wont last. Once the inflation starts killing the economy car prices will tumble. These prices cannot be sustained long term. To me it was worth upgrading from a Sahara to a 3 year newer Rubicon. Without the Gupton deal though, I probably would not have done it.

 

[jxh034]

Why dont u sell and order a 2022 4xe Rubicon? 57k-7500 (maybe 9k) in tax rebate = 49k.
3 years newer, 30k less miles, save on gas.

 

[starrs]

I bet he is a hoot at parties too.

I bet he isn’t buying any shots

 

[hiimmike]

And... did she?

Unfortunately, no.

 

[hiimmike]

I like hearing people's opinions on Ramsey. One side: He filed bankruptcy! Other side: He's a genius!

It's very interesting to me how many people don't have any concept of budgeting/money and how expenses vs income work. I was a lender at a credit union for 7 years and one person came in all made and said, "how can I not have any money? I still have checks in my checkbook!" Okay, that was a joke. However, this story did really happen....

Someone was complaining about their member privilege fees (NSF fee at a bank equivalent). I asked them if they used a check book register. He asked what is that. I pulled one out of my desk and showed him and he said, "that's stupid, are those for women or something, I'm not using that" My response verbatim, "Well, I may be a stupid woman then but at least I'm not negative in my checking account $400." hahahaha He didn't like that and went to talk to our CEO who indeed backed me up. We didn't give him a dime back. However, if he would have been friendly and at least said he would attempt to use the register to track his spending, I would have probably given him at least $200 back. I'm really big on people trying, not lazy people who want something for nothing.

Back to the off topic subject at hand... Ramsey has great ideas, things I've only started living by starting in my late 30s. I wish I would have not spent my 20's dropping $500 - $1000 at the club in downtown Milwaukee while living with my parents. I'd be in a MUCH better financial position than I am today. I've recently had two people talk to me about their financial problems, not asking for advice, just complaining about things. I asked both of them if they have a written out budget and both said no. One makes $80k/yr and they are struggling to pay a $1600/mo rent. I'm not passing judgement, I filed for BK after I split with my ex-fiance and moved out of state and back in with my parents. I suggested to both to sit down with their spouse and WRITE (or use Excel like I did) out a budget and then use the Goodbudget app to track EVERY penny spent. I'm certain that if people did that, they would be shocked how much they spend on things. A lot of it is keeping up with the Jonses.

 

[hiimmike]

I just sold my 2018 8000 mile JL Sahara and ordered a fully loaded 21 Rubicon from Gupton. It will cost me roughly $5k with taxes etc when its all done. Cars are worth more than ever right now, but it wont last. Once the inflation starts killing the economy car prices will tumble. These prices cannot be sustained long term. To me it was worth upgrading from a Sahara to a 3 year newer Rubicon. Without the Gupton deal though, I probably would not have done it.

I agree, car prices will drop. That is new and used though. We're paying inflated prices not just for used vehicles, but also brand new. If I had zero intention of keeping this '22 Jeep for 10 years, I would not have ordered it. If prices drop in two years, I will not get nearly as good of value. I won't be upside down because at time of purchase I'll be at 60% LTV (or have 40% equity). I'm hoping I love this Jeep as much as I'm hoping and it delivers a ton of adventures for myself, my wife, and the dog, plus nieces and nephews.

 

[The Last Cowboy]

When gas hits an average of $5 a gallon in most parts of the US, there will be a lot of panic trading going on like in 2008/09. Those will mostly be trucks ans SUVs (including Wranglers). That glut will make prices fall hard and fast for awhile

 

[Heimkehr]

I have a 2019 Mojito JLUR with 31,500 miles on it, https://givemethevin.com/ offered me $51,500 for it as a straight out purchase (or I can work with one of their dealerships on a trade)

Right now I have enough equity in the Jeep to trade it for a $12,000 car and I could completely eliminate my payment and save myself the $800+/mo that I pay on it... (I overpay my bi-weekly payments)

I know you're paying more than the minimum monthly figure for your note, but...$800.00/month isn't far removed from my first mortgage payment. Houses traditionally don't depreciate. Absent the inverted and short-term conditions in the automotive market, most vehicles do lose value over time.

You have a brief window of opportunity to sell High. It's not going to last.

I'd counsel eliminating your vehicle-based debt in exactly the manner you plot in your post. If the replacement car is carefully chosen, there's really no downside to this choice.

The money that would have gone toward your Jeep payment can be saved and/or invested in the manner that you choose. This will only strengthen your financial position over time...and that is no small matter as we peer into 2022 and beyond.

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