Question About Jeep Value (before I take delivery today)

Hornet

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So I'm picking up my new Nacho today. Bare in mind I already own a Punkin JLU, which I have now given to my girlfriend. Anyway, I have heard so much about the Jeep Wrangler holding so much of its vale blah blah blah. This morning I'm having few last minute butterflies about this commitment I'm about to make. So lets say 4 months from now I loose my job, or I just don't want the Jeep any more (not going to happen) I could theoretically sell it back to a dealership or privately, and walk away not owing anything to the bank? Am I dreaming here, or are my assumptions about right?
People lay in their death bed wishing they had lived their life differently and regretting a lot of things.

Live with no regrets, no one knows what the future holds, you could loose your job the same way you could not.

No decision should be made based on the what if's.

Go with your gut and Jeep on.





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Heimkehr

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I have heard so much about the Jeep Wrangler holding so much of its vale blah blah blah.

I could theoretically sell it back to a dealership or privately, and walk away not owing anything to the bank?
I'll add to the list of non-theoretical experience in this matter.

I purchased a 1995 YJ new in December 1994. Barely several months into ownership, the selling dealer replaced the short block under warranty due to piston slap. When the problem reoccurred, I lost all faith in the vehicle and sold it late in 1995.

A separate Jeep dealership bought the vehicle, giving me $600.00 more than I owed.

My down payment in Dec 94 was $1,800.00, and the 2nd dealership would of course had the opportunity to examine the vehicle that day. They'd also have full access to the engine replacement work record (if the salesman checked his database; I can't recall if he did so.)

I accepted the check and walked out.


The foregoing is a data point of one, but it put me at ease when I decided to give the brand another chance after a 25 year break.
 

RubyRecon

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I spent 2 months trying to find a low miles JL or JLU. The asking prices were so high that I quit looking and bought a New 2020 Recon for $4000 off sticker and 0% financing.
 

dgoodhue

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People lay in their death bed wishing they had lived their life differently and regretting a lot of things.
People also live there life to fullest during their working years saving little to no money for retirement. I am shocked at how many people my age (40's), I have had conversations with that have no money saved for retirement. These people have nice houses, often have new luxury cars and annual go expensive vacations. It's a balance. I plan and save for tomorrow but make sure I live for today. If I die early my family is going to get a nice inheritance.
 

CT_LFC

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People also live there life to fullest during their working years saving little to no money for retirement. I am shocked at how many people my age (40's), I have had conversations with that have no money saved for retirement. These people have nice houses, often have new luxury cars and annual go expensive vacations. It's a balance. I plan and save for tomorrow but make sure I live for today. If I die early my family is going to get a nice inheritance.
A travel agency in town has a window sign that says "if you don't fly first class your heirs will". It is definitely a balance act between living life today and making sure you are planning for tomorrow.
 
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Spearmin

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In the DC area, the resale is abnormally high. 2 colleagues of mine sold there Rubicons with one in 6 months for $500 more than negotiated price and 1 for 1000 less than negotiated price. They still had the cost of taxes (including property taxes in VA) and dealer fees.
Did they sell to a dealer/Company or private deal?
 

JimmyZ

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I don’t know what your arrangement with GF is (ie is she taking over payments) but if you are truly giving your GF your Jeep and buying a new one. You should have an emergency fund for 3-6 months 1st.
#DaveRamsey :)
 

Pic18

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You’re picking up a new Nacho Jeep? Have I been off the forum too long? Is Nacho back?
 
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Spearmin

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You’re picking up a new Nacho Jeep? Have I been off the forum too long? Is Nacho back?
Yeah dude for 2021. Still haven't picked up yet. The dealer Canceled out delivery yesterday due to some paperwork issues on their end. 🙄
 

Gladius Nova

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You will also have to take into consideration how “used and abused” it is. Will you take it off-road every week and beat it up to all high hell or will it strictly be a street/road vehicle?
 

dgoodhue

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No one has mention this, but your equity depends a lot on how much you paying for your Jeep and how much you put down. If your putting down 10% and buying it for 5-8% below invoice, you have a pretty good chance of having positive equity after purchase. If you are paying MSRP or even Invoice with no money down and financing sales tax, registration and fees, it is very unlikely you will be anywhere close to breaking even.
 

jellis4148

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I work at a CDJR dealer. Depending on how much they discount it, and your total amount financed you could possibly walk away debt free. Most dealers use a website call Car Offer, and I've seen several people with a year old Jeep get close to what they paid for it using that website. Car offer is a website that we can post our used, and sell the to other dealers. It amazes me what dealers will pay for certain used vehicles. Full size trucks, and Jeeps bring the best value. Of course the market does change daily, but if you were to buy it today, and post it tomorrow you could actually make money. Again, that's depending on the total amount paid for the Jeep.
 

Strommen95

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Every used cars value out there is different. No two are comparable. Two identical cars with the exact same options will be in different condition than the other, different mileage, driven in a different area, maintained differently, etc. Every market will be different too. We really can't compare a JLs selling price used in New York to those in Colorado.

I sold my 2014 JKU Sport in fair condition for $21,500 in 2019 to get my JL. Bought it for $33,000 in 2014. After 5 years, 50,000 miles, needed tires, had lots of scratches, etc, the price was fair for both parties. Bare in mind this was pre-Corona when there was tons of used JKs and 2018 JLs sitting in dealer lots. Not the best time for Wrangler values. That same JK probably would've got $24,000 in the spring of 2020 despite being a year older with 10,000 more miles.

Every seller has a different set of circumstances to work with. If Wranglers have a 75% depreciation curve in 3 years(just a hypothetical number though it might be close), understand that there's people who received 60% and there's people who received 90% back.
 

TheRaven

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People also live there life to fullest during their working years saving little to no money for retirement. I am shocked at how many people my age (40's), I have had conversations with that have no money saved for retirement. These people have nice houses, often have new luxury cars and annual go expensive vacations. It's a balance. I plan and save for tomorrow but make sure I live for today. If I die early my family is going to get a nice inheritance.
I don't know your age, so I dunno if you are in the same boat as I am, but there will be no such thing as "retirement" for my generation. By the time I get to that age the national pot will long have dried up, leaving the vast majority of people without the means to retire, and jobs will be largely virtual anyway, so the original driver behind employment - physical condition - will be a non-factor. People will be continuing their careers well into their 80s at that point. I don't really plan to retire, ever. Maybe i'll take a lower stress job at some point, but i'll always be working in some capacity.

Now that doesn't mean i'm not saving for old age, but i'm doing it more with medical bills and overall cost of living in mind than expecting to not work.
 

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