Jeep Values - Massive Decline

[Heimkehr]

it is bad across all trims as others have mentioned in this thread.

No, I was focusing on the sentiment expressed in post #10, one that I've seen play out in real life.

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[dstevens]

After reading this forum for two years it now makes perfect sense to me to sell a vehicle before the first oil change.

 

[NWJeepr]

We bought our JK new for $33k, owned it for over 5 years and put 100k miles on it and sold it for $26,500. Not a trade, we sold it for cash to a young man who was convinced it was one of the nicest Wranglers for the price he had seen after looking for months. We felt like we had robbed him, but that's what the market was commanding at the time. The days of legendary Wrangler resale died with the introduction of the JL.

Fast forward to 2024... Trying to unload a 2023 JLRXR with 5k miles will net about $37,500 on a $67k MSRP. I tried and guess what --- I'm keeping the dang Jeep for a while. I paid cash for it and I refuse to realize the loss. It has more value to just drive it and be unsatisfied with it.

 

[Ratbert]

After reading this forum for two years it now makes perfect sense to me to sell a vehicle before the first oil change.

Some people love to keep their vehicles for 10+ years. That's a loooong time before the first oil change!

 

[Opus]

I financed mine for the same length as the extended warranty. No plans to sell until those expire 4 years from now.

My wife, however, would very much like to trade her Compass for a Wrangler (new or used) as soon as humanly possible...

 

[LDSSILLS]

I paid $37K for my 2021 Rubicon in August with 11K mikes. Original window sticker was $67K

 

[ObiMatt87]

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?

In my experience, it really does depend on the market you are buying/selling in. For example, when I was looking to take advantage of the 2024 glut of Wranglers on lots across America and the significant markdowns being offered due largely to factory incentives, I found that here in Texas no dealer was willing to get down to the pricing I ultimately found in Florida. Outside of that, Oklahoma and Georgia, among others, were better deals. Here in San Antonio, the demand must be so high that no one was willing to get anywhere near what I paid (including auto transport from FL), so I went out of state. Amazing to me, but that is what a free market does.

To put into context, the window sticker on my 2024 XR was $71,600. After all of the factory/dealer incentives/rebates, the price I paid was $17,050 below that. More than enough to offset the transportation cost of $1200 for a company that delivered it door-to-door with no issues and great communication.

I wanted to buy here in Texas, and was close with a dealer in Port Arthur, but no joy. I had a GREAT experience with the FL dealer I went with, and the communication with my salesman was just amazing. To the point that next time we're in FL I'm going to stop by to shake his hand. He was just great.

 

[ObiMatt87]

After reading this forum for two years it now makes perfect sense to me to sell a vehicle before the first oil change.

All jokes aside, I seriously have had ZERO issue with my 2018 Sahara and LOVE my 2024 Rubicon XR. That said, I totally recognize that it may be the luck of the draw with regard to which shift built your Wrangler and you may have crap results because of it. My experience, though, has been awesome and I'm going to keep on Jeepin' as long as I can.

 

[Bulletbill]

On the flip side, it’s a great time to purchase a used wrangler. I think there was a post on here the other day about someone who’s friend traded in a nice rubicon with approx $20,000 in mods somewhere out in Montana for next to nothing.

For everyone else who owns a wrangler that wants to sell, there are worse vehicles to be shackled to. I also think the glut will eventually work its way out and things will go back to something close to normal.

 

[AZ Spencer]

This is an apolitical thought. I am not expressing support, condemnation, or anything in between for proposed tariffs by the new administration that may raise what we pay for vehicles produced, at least in part in Canada or Mexico.

I leave my thoughts on this off the forum.

But what I will say is that if these tariffs are implemented and raise the prices of such vehicles then the same people in need of vehicles may be chasing a smaller affordable inventory across all manufacturers, and well, supply and demand being as apolitical as a pretty sunset, I am curious to see if that raises the cost of vehicles across the board.

My best guess it will raise prices. And this was what motivated my wife and I to purchase a Jeep now instead of waiting much longer. My local market in Tucson is flooded with used Wranglers and new ones sitting on the lot. I scored a 2018 JL Sahara with 23k miles, Sting Grey, color matched hard top, I think all of the available upgrades (according to the VIN run online) and brand new wheels and 33" KO2 tires for $22k.

 

[hemiblas]

Seems like I use to buy a Wrangler for 36k...drive for 5 years and unload for 24k. Fast forward to today and yeah these higher up front prices are making them drop in value like crazy.

 

[CJ SCION]

After reading this forum for two years it now makes perfect sense to me to sell a vehicle before the first oil change.

Yeah, ain't that something. I'll do ya one better. Since a year before covid I have been rotating new vehicle purchases. Four Wrangler, two GMC and two Fords. Haven't purchased wiper blade or any other maintenance items. Correction: did oil change on the 3.0 diesel. Been lucky in these twilight years with vehicle rotations. Down a little, very little and well worth the variety I have experienced.

Back in the day it was trade before new tires. When tires would get maybe 25,000 if you were lucky. So much has changed over time. Best wishes to all worried about their recent buys.

 

[RAD1]

My '24 Willys V6 6MT with safety, convenience, and SOT stickered for $56K. With all the incentives, I got $10K off when I picked it up in April '24. And I bought from MD as no dealers near me in New England were offering anything more than $2K off sticker. Now, with 6K miles, dealer trade in and Carvana offer is $34K.

$22,000 (40%) loss of value in 8 months and 6K miles. Those algorithms certainly are pricing in far more supply than demand.

Could be worse, my buddy ordered a 2023 JLUR 4xe and paid MSRP $82K! This was when dealers were telling us you're so lucky you're not getting ADM lol.

 

[siggy]

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?

Another one of these threads…What did you pay? If you didn’t pay at least 20% under MSRP, then you just bought poorly. It’s well known the top trim of anything depreciates the most (should’ve gone 392 at that price).

 

[AlgUSF]

On this very forum a few years ago, folks were selling JLs for more than they paid for them new. Some folks were going on about how this is "the new normal" where new cars appreciate. That was back in a seller's market, now the pendulum is swinging the other way and folks are having to eat a bit of depreciation when they sell a vehicle. It's normal market behavior.

Stellantis has MSRP way too high right now, so saying a JL is worth the sticker price is a bit silly.

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