Jeep Values - Massive Decline

[FWC]

First post and didn't expect it to be on this topic. I bought a '24 Sport S in August and have only added Rubicon rims, shocks and springs, . Anyway my dealer emailed me last week about sales prices on their inventory, up to 15k off a Wrangler and 20k off a Gladiator, so I looked at the list. A nicely loaded 2024 Rubicon caught my eye and I messaged my sales guy. Six months old, 7800 miles at the time and they offered me 32000 on a trade, are you serious? They did come up to 36k but still a 40% loss of value on a six month old vehicle. Mind you, they gave me more for trade in on my 5 year old Tundra with 55k on it. Dirty brown as I like to call it , a fun ride but did I mention the head unit display blinks out on occasion.

Sponsored

 

[Zandcwhite]

First post and didn't expect it to be on this topic. I bought a '24 Sport S in August and have only added Rubicon rims, shocks and springs, . Anyway my dealer emailed me last week about sales prices on their inventory, up to 15k off a Wrangler and 20k off a Gladiator, so I looked at the list. A nicely loaded 2024 Rubicon caught my eye and I messaged my sales guy. Six months old, 7800 miles at the time and they offered me 32000 on a trade, are you serious? They did come up to 36k but still a 40% loss of value on a six month old vehicle. Mind you, they gave me more for trade in on my 5 year old Tundra with 55k on it. Dirty brown as I like to call it , a fun ride but did I mention the head unit display blinks out on occasion.

$36k is a 40% loss? You paid $60k for a sport S? That's not a loss of value you overpaid...by a lot. Taking a sport s and adding every option including $4k sot top and $1k slider steps you only get the msrp up to $47k. Which even if you paid full msrp is only a 24% drop... and that's on trade in value. Private pay would be under 20%

 

[MichLS1]

First post and didn't expect it to be on this topic. I bought a '24 Sport S in August and have only added Rubicon rims, shocks and springs, . Anyway my dealer emailed me last week about sales prices on their inventory, up to 15k off a Wrangler and 20k off a Gladiator, so I looked at the list. A nicely loaded 2024 Rubicon caught my eye and I messaged my sales guy. Six months old, 7800 miles at the time and they offered me 32000 on a trade, are you serious? They did come up to 36k but still a 40% loss of value on a six month old vehicle. Mind you, they gave me more for trade in on my 5 year old Tundra with 55k on it. Dirty brown as I like to call it , a fun ride but did I mention the head unit display blinks out on occasion.

I don’t want to think how little my 24 manual transmission is worth.

I also have a 24 sport with a display that blinks out. I jus posted it and learned others are having the same issue.

 

[The Last Cowboy]

When new car/truck sales prices are low, you will always get beat up on a trade in. They can't possibly give you more for a trade than they are selling comparable new ones for.

 

[BXFXJeep]

I don’t want to think how little my 24 manual transmission is worth.

I also have a 24 sport with a display that blinks out. I jus posted it and learned others are having the same issue.

Isn't there a recall on the display for some Wranglers? Check if yours is part of that recall, or it's a similar issue.

https://moparinsiders.com/stellantis-recalls-32863-jeep-wranglers-gladiators-for-ipc-failure/

 

[MichLS1]

Isn't there a recall on the display for some Wranglers? Check if yours is part of that recall, or it's a similar issue.

https://moparinsiders.com/stellantis-recalls-32863-jeep-wranglers-gladiators-for-ipc-failure/

I think we’re both talking about the 12 inch display going blank very briefly.
There is a recall on the display between the speedometer and tach on the Wrangler S, too.

 

[Dusty Dude]

This is why I keep my vehicles for decades!
I baby them and keep up with all maintenance.
I learned early on that if I wanted the newest toys every other year and my name is
not Elon Musk, I won't be retiring at 62!

You take proper care of things, and most times, it will take care of you.

I also kept my vehicles for a long time, as well as many other items needed in life. It made it possible for me to retire at 57, in spite of having to still put two kids through college.

So many people have to have the latest thing or gadget, and they can’t hardly pay to fill their tank as a result. Sad to see…

 

[The Last Cowboy]

You take proper care of things, and most times, it will take care of you.

I also kept my vehicles for a long time, as well as many other items needed in life. It made it possible for me to retire at 57, in spite of having to still put two kids through college.

So many people have to have the latest thing or gadget, and they can’t hardly pay to fill their tank as a result. Sad to see…

Like you, I retired at 57. Everything but the house is paid for. Sorry about that college hit, but you sound like the kind of guy who planned for it. My daughter graduated college long ago and does well. She and her family also have everything but the house paid for.

We all keep our cars for many years. Between us and our daughter's household we have 3 Jeep vehicles, My 2020 Wrangler,daughters 2019 Grand Cherokee and my wife's 2022 Wagoneer along with 2 F150s. The Jeeps have never been back to the dealer.

2 car payments on $50k vehilces, plus insurance, is the kind of monthly expense that you buy a pretty decent house for, with insurance and taxes. In most parts of the country, anyway.

 

[Dusty Dude]

Like you, I retired at 57. Everything but the house is paid for. Sorry about that college hit, but you sound like the kind of guy who planned for it. My daughter graduated college long ago and does well. She and her family also have everything but the house paid for.

We all keep our cars for many years. Between us and our daughter's household we have 3 Jeep vehicles, My 2020 Wrangler,daughters 2019 Grand Cherokee and my wife's 2022 Wagoneer along with 2 F150s. The Jeeps have never been back to the dealer.

2 car payments on $50k vehilces, plus insurance, is the kind of monthly expense that you buy a pretty decent house for, with insurance and taxes. In most parts of the country, anyway.

My wife and I started saving for our kids college when our oldest was 2, and the compounding interest couldn’t keep up with the tuition increases.

Glad to hear your daughter is following your example. So many kids are the “instant gratification” types today.

My daughter is starting medical school this fall after a gap year, and so far is debt free. She drives a 2013 Subaru Outback, and loves it. My other daughter is also driving an old Outback after our 2008 Mercedes suv literally blew up electronically after 175k.

I am a car guy through and through, but I HATE car payments. House payments are a much better use of cash flow.

 

[The Last Cowboy]

My wife and I started saving for our kids college when our oldest was 2, and the compounding interest couldn’t keep up with the tuition increases.

Glad to hear your daughter is following your example. So many kids are the “instant gratification” types today.

My daughter is starting medical school this fall after a gap year, and so far is debt free. She drives a 2013 Subaru Outback, and loves it. My other daughter is also driving an old Outback after our 2008 Mercedes suv literally blew up electronically after 175k.

I am a car guy through and through, but I HATE car payments. House payments are a much better use of cash flow.

I agree. But I have to admit that in my 20s and 30s, I bought and sold, or traded a lot of new and used Jeeps and trucks. Never traded upside down though. But eventually I got sick of never ending car payments that kept creeping higher and higher.

Decided long ago that the best mod for any Jeep/truck/etc is to pay it off.

It seems that many more are beginning to feel that way. I see a whole lot less brand new Jeep builds on this site than I did a few years ago. And it seems that many regular contributors here have Jeeps 2-3 years old, or older. This site is just a small sample overall, and mostly enthusiasts, but the trend of a new one every year it two is subsiding. If Jeep can’t keep it’s core engaged, then their marketing people need to regroup and reassess what Jeep buyers want. Right now it seems that would be a significant cash incentive. Need to be careful not to use the “rebate”’word, as customers in the past came to expect those.

 

[FWC]

$36k is a 40% loss? You paid $60k for a sport S? That's not a loss of value you overpaid...by a lot. Taking a sport s and adding every option including $4k sot top and $1k slider steps you only get the msrp up to $47k. Which even if you paid full msrp is only a 24% drop... and that's on trade in value. Private pay would be under 20%

I paid 51 or 52 k for it so 20 grand off, my calculator on my phone said it was 20800, for 40% close enough in my book. I figured someone would lose their mind if I said almost 50% loss. Either way it's a sad number.

 

[Zandcwhite]

I paid 51 or 52 k for it so 20 grand off, my calculator on my phone said it was 20800, for 40% close enough in my book. I figured someone would lose their mind if I said almost 50% loss. Either way it's a sad number.

You paid $51k...and traded it in for $36k... that's $15k not $20k? And again, you can't include tax/title/maintenance plans/gap/ or any other crap in the resale value so the highest I could get the msrp adding every option was $47k so you overpaid and at most the vehicle lost 24% off ITS value. We all know you get burned by at least $5k trade in vs private party and using the 1st low ball offer to calculate loss of value vs what they ended up offering is deceitful. In reality you could have sold it for $40k private party which would be 1/3 the loss you're claiming starting from msrp. My 2023 JT mojave shows a private party value between $38-43k with 24k miles on it. A big hit from the $65k msrp... but I only paid $51k. It's really only lost 14% in 2 years as far as I'm concerned even though from msrp it's down 34%.

 

[FWC]

You paid $51k...and traded it in for $36k... that's $15k not $20k? And again, you can't include tax/title/maintenance plans/gap/ or any other crap in the resale value so the highest I could get the msrp adding every option was $47k so you overpaid and at most the vehicle lost 24% off ITS value. We all know you get burned by at least $5k trade in vs private party and using the 1st low ball offer to calculate loss of value vs what they ended up offering is deceitful. In reality you could have sold it for $40k private party which would be 1/3 the loss you're claiming starting from msrp. My 2023 JT mojave shows a private party value between $38-43k with 24k miles on it. A big hit from the $65k msrp... but I only paid $51k. It's really only lost 14% in 2 years as far as I'm concerned even though from msrp it's down 34%.

I didn't trade anything, I kept it. You are missing the point completely, it's about the loss of value not nitpicking over numbers you keep breaking down to fit your argument. I was just showing the numbers that coincide with the OP, and the next time I buy a vehicle I will consult with you first to ensure I get the best deal.

 

[BrntWS6]

I told both my kids they can stay here rent free but your paying for your own college. My daughter applied for so many grants she will have 0 debt when she gets her degree. Funny when its their money how motivated they get.

 

[Zandcwhite]

I didn't trade anything, I kept it. You are missing the point completely, it's about the loss of value not nitpicking over numbers you keep breaking down to fit your argument. I was just showing the numbers that coincide with the OP, and the next time I buy a vehicle I will consult with you first to ensure I get the best deal.

Point is you were offered $36k, and at most your msrp was $47k and that's if you added every option including the $4k sot top. Loss of value doesn't include finance charges or title, that is ridiculous. What was the actual msrp (even then you over paid as everyone on this forum knows you can order at below invoice)? Do the math from the starting msrp vs what you were offered in the end. If I offer you $1 for your Jeep that doesn't mean that's its value any more than if you agree to pay $20k over msrp on some added dealer mark-up. If it was a conversation about what YOU would lose then sure throw in total cost of purchase and whatever low ball offer you choose to accept, but neither of those numbers represent the value of the vehicle or its depreciation.

Sponsored