Jeep Values - Massive Decline

[ArmyRN]

2023 JLU Willys XR 2.0T well equipped - ordered it from the factory.

Soon after I got mine I drove it from SW WA to FL and back with no issues. Thought it drove great. Was trying to get there and back quickly (spent a week with my 90+ y/o mom in FL), so I slept in the Jeep every night on the drive mostly at rest stops. Frugallanding.

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[Zandcwhite]

OK, thanks. If you were driving back roads and camping from Alaska to Florida with no hard trails anticipated, would you opt for a wrangler, or would you take something else?

I'd take the gladiator, it's more comfortable on rough roads at speed. I take Jeeps everywhere I go. Even freeway roadtrips from CA to FL. Haven't made it to Alaska...yet.

 

[Spartan99]

You act like those options are standard equipment or mandatory? Buy a base sport if that's what you want? Why/how do you envision them increasing sales by offering us less options and only the base model we can already buy... for under $40k. They had record profits until the last couple years because most buyers want... and will gladly pay for those options from the factory. The manual is thousands cheaper than the auto... and makes up less than 10% of sales. Nobody wants a 4dr vehicle with manual windows and locks.

I am of the few with a 4dr with manual windows and locks. Love it. I’ve dealt with failing power windows and locks before and that’s why I chose manual on my 2008. Expensive PITA when those fail.

 

[Valpo Jeep]

We are rarely concerned with trade in values since I try to drive the wheels off.

Last 3 vehicles of mine were traded in at 176,00; 190,000; and 234,000 miles.

 

[hemiblas]

I'm seeing more and more people on fb complaining about jeep prices and being underwater. It's happening.

 

[Zandcwhite]

I'm seeing more and more people on fb complaining about jeep prices and being underwater. It's happening.

Only a complete moron would buy a new vehicle and expect to not be under water. The post covid market just wasn't reality. Traditionally a new vehicle will lose 30% of its value in the 1st 2 years and 8-12% per year after that. Your $60k Jeep shouldn't be worth more than $40k after 2 years despite what the weird market of 3-4 years ago might have made people believe.

 

[2019JLUS]

I've owned several Wranglers in my lifetime and this is the first time I've seen such a huge decline in the residual/trade value of a Jeep. I tend to get a new car every 1-2 years and usually the Wrangler is one of the best vehicles to own when it comes to holding their value. My current '24 fully loaded Rubicon X ($78.5K MSRP) currently has lost 40%+ in one year. I know Jeep has had huge decline in sales and they are discounting new models heavily but, question is, could the rumors be true that a huge price reduction is on the way which is impacting current trade values?

What would you even trade the JL for after 2 years? There's nothing better other than a 392.

 

[jmill012]

What would you even trade the JL for after 2 years? There's nothing better other than a 392.

For a 392. Wanted high trade value and the deep discount on a new 392

 

[IdowaJeeper]

I just did a 3200-mile road trip in my new 2024 Sport S 4xe that I put another $6k in mods into. I got it for nearly $20k under MSRP and thought I would be fine if I wanted to unload it later.

Nope. Current trade in value is around $35k. I owe about $10k more.

I love my Jeep and have no problem hanging onto it for a few years, but am surprised at just how bad of a hit it took. Traditionally, Wranglers really hold their value.

 

[siggy]

I just did a 3200-mile road trip in my new 2024 Sport S 4xe that I put another $6k in mods into. I got it for nearly $20k under MSRP and thought I would be fine if I wanted to unload it later.

Nope. Current trade in value is around $35k. I owe about $10k more.

I love my Jeep and have no problem hanging onto it for a few years, but am surprised at just how bad of a hit it took. Traditionally, Wranglers really hold their value.

The math ain’t mathin. So you paid at least $45k for a Sport S 4xe. And you got it for nearly $20k under MSRP. That would make the MSRP about $65k…for a Sport S. Am I reading that correctly?

 

[Flying Dave]

The math ain’t mathin. So you paid at least $45k for a Sport S 4xe. And you got it for nearly $20k under MSRP. That would make the MSRP about $65k…for a Sport S. Am I reading that correctly?

Could very well be. Options, mods, how much down and tax, title, license. May be rounding a little bit.

 

[Stetson]

The upside of lower prices is potentially more people will buy jeeps. Not everyone can afford a $50k+ vehicle

 

[Stetson]

Could very well be. Options, mods, how much down and tax, title, license. May be rounding a little bit.

Plus extended warranty, maintenance plan, GAP insurance. ..etc

 

[Zandcwhite]

I just did a 3200-mile road trip in my new 2024 Sport S 4xe that I put another $6k in mods into. I got it for nearly $20k under MSRP and thought I would be fine if I wanted to unload it later.

Nope. Current trade in value is around $35k. I owe about $10k more.

I love my Jeep and have no problem hanging onto it for a few years, but am surprised at just how bad of a hit it took. Traditionally, Wranglers really hold their value.

Checking every option including heavy duty step sliders I could only get the msrp up to $57k... which means you paid $37k brand new and are surprised that the trade in value is only $35k? Any vehicle you buy is going to deprecate at least $2k when you drive it off the lot. Did you really think you'd buy at $20k off msrp and then trade it in for more than that?

 

[Rad-Beach-88]

As I am approaching the halfway point of my Custom ordered and Leased 2023 Jeep Wrangler XR “Jeep Beach”, I’m starting to ponder what I’m going to do in 24-months. I got a huge employee discount and the Lease kept the payment in check, even with my wrangler being a 1-of-500 it hasn’t done much to save the value. Top that with a Major accident that had to have the frame replaced barely 8 months into ownership. I truly don’t know how to understand what the expected value/versus Post-Lease Purchase price will end up in reality.

It’s been flawless, but from the Lack of comfort & storage features and lack of safety equipment as a 6’4” person the compromises add up extensively.
It does make me want to buy it out and use it as a secondary vehicle. I am a considering Lexus GX550, Porsche Cayenne or LR Defender 110-X, even drove the Ineo Grenadier last weekend…impressive, The Toyota Land Cruiser 4-cylinder is NOT. I’ve owned 3-Grand Cherokees but the new body style just doesn’t have the same solid, go-anywhere feeling of the WK Era.

I’ve loved every second of the compromises that make up my Wrangler ownership experience. But a slightly more comfortable, elevated driving experience that reflects my personal and professional aspirations, my Big Orange Wrangler tends to feel a bit like the Matchbox it is. A Jeep is not part of our future List of Interested Vehicles because…Look at the competitions product & Dealership experience Lexus/porsche/LandRover…CDJR isn’t in the same league. Not looking to ride Jeeps up-Down product and market experiment.

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