Question About Jeep Value (before I take delivery today)

[rickinAZ]

I am 47 years old, fortunately I listened to my mother when I was 22 and starting putting 10% of salary towards retirement. I upped it to 15% when I was 35. I am on track to retire maybe a little early.

Even at 40 years old you're not too old to start saving for a retirement. It sounds like you have some retirement save which is a start. Not to single you out but you do have new 2020 and 2021 vehicles that aren't that cheap, so you have some means to be able to afford those vehicles.. If you planning on working past 80 in some capacity, you have many years to save and compound investment gains. I have downloaded and used your lease excel spreadsheet, you did a really nice job with those. I use an excel spreadsheet to project my own retirement. Make yourself a retirement project spreadsheet and start putting a plan in place, 80 year old Raven will probably thank 40 year Raven.

The sad irony is that the group that is least unable to save are the ones who have manual labor jobs that are challenging as one grows older. How do they expect to keep working as they age? I used to work with a woman who's significant other was in construction and saved nothing. She used to say that his long-term financial plan was to die early.

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[CT_LFC]

The sad irony is that the group that is least unable to save are the ones who have manual labor jobs that are challenging as one grows older. How do they expect to keep working as they age? I used to work with a woman who's significant other was in construction and saved nothing. She used to say that his long-term financial plan was to die early.

That is my father in law. Highly skilled carpenter who always had a full pipeline of jobs without ever having to spend a dime on marketing. He could have built his business so that as he got older would transition into estimating and checking on the jobs, but smoked, drank and gambled all sorts of money and never once thought the day would come when he couldn't do his job. That is on him and no one else, but now the time has come where he's older and not physically able to do his job and no clear solution.

It is definitely easier to save when you are an employee and the employer takes the money from your paycheck and then on top of that contributes to it. Being self employed requires even more discipline to save and people just don't have it.

 

[Wanted33]

Jeeps do hold their value. But, not enough to help you in 4 months.

 

[JP'sJP]

Is this some sort of investment forum now? F#$king rediculous. And Dave Ramsey is a nut job. My brothers family was torn apart by that guys advice. Kids won't have anything to do with them. Yeah they have saved money, but their life is miserable.

 

[RagTopDeluxe]

I’m just here to see a photo of Punk’n and Nacho together @Spearmin

 

[JEEPIDON]

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.

I've heard this same diatribe for 40 years! The pot was supposed to dry up by 2000, then 2010, then 2020 and now the latest estimate I saw was 2032. Cut the federal government employee base in 1/2 and there would be plenty of money. People keep electing idiots that have no business background or common sense.

 

[TheRaven]

Cut the federal government employee base in 1/2 and there would be plenty of money. People keep electing idiots that have no business background or common sense.

Now here we agree! The problem is that the base of people electing idiots is only growing in size.

 

[MDRubicon]

You’ll most likely owe, but... that also will depend largely on how much you paid and the supply/demand of your specific JLU within your region too.

My 2016 JK Rubicon was purchased new at $31K - I got a killer deal, negotiated it way down, mostly due to timing and other factors. I sold it this year to a DEALERSHIP (not trade) with 36K miles on it for $28,900 - however, please note, manual 2-door Wranglers were in high demand and due to Covid, supply was low (even for used manual Jeeps).

Completely unrelated when you factor in context - I also purchased a used 99 TJ (back in 2008?) that had 60k miles on it for $6,500 (the person was leaving the country and had to deal, took what I had) and after 5 years + 80K miles and $4K invested in upgrades, I sold it for $11,900... now that’s rare, most cars/trucks don’t appreciate, but it was a very nice and loved Jeep that looked and drove, awesome... I miss her

 

[aldo98229]

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?

After having owned eight prior Wranglers, I found I am in a breakeven position after 12 months. From that point onward, I start building equity.

The above is a general rule, of course. It will depend if you put any money down/trade in, if you financed for 72 months or longer, whether you got a big fat discount up front, etc.

But in general, that’s how I found Wrangler values to hold.

After 4 months may be too soon; after 12 months is doable IMO.

 

[eriebug]

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?

I would agree with the one reply. Soon as you pull off the lot you lose value, while Jeeps do hold their value more then some you still lose more than you will want. Can I ask you how long did it take you to get your Nacho Jeep. I ordered a new Nacho Gladiator 10 weeks ago today and still nothing. I am trading a 2015 Yellow Wrangler. I had been waiting for a better color and ordered the Nacho the same day I was notified it was available.

 

[COBill]

And Dave Ramsey is a nut job. My brothers family was torn apart by that guys advice. Kids won't have anything to do with them. Yeah they have saved money, but their life is miserable.

Miserable as compared to being in massive debt? I doubt it.

Ramsey is rather inflexible, but being debt free has its major advantages, and many don't have the financial self-discipline to never, ever carry a balance on a credit card and so end up paying 22% interest.

That having been said, trade-in on a one year old Rubicon with a $55K sticker is about $34K, and if you have a CarMax nearby pop in and get a valuation on your other Wrangler to get a true sense of what the market thinks it's worth.

 

[GGolds]

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?

The Wrangler has perhaps the 3rd highest resale value of anything out there. HOWEVER, nothing after 4 months is going to be a giveback. Unless the dealer loves you to pieces, that's the risk you take driving off the dealer lot. Nothing is going to be "EVEN" after 4 months. SO, buy your Wrangler, drive it, love it, and stop thinking about what if's or it will make you insane. What if you fall off a cliff, what if you get cancer, what if your girlfriend leaves you ( that's a 50/50 no matter how good it is), what if I find out I'm Jewish after having been raised a strict Catholic all my life ( happened to a friend this weekend after a 23andMe test). Stop the what if's and live for today.

 

[ElGuapo]

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?

Very doubtful. In fact, I've never heard of it with any vehicle (maybe a Tesla?). Toyota Tacoma has the highest resale in Canada and it took me 18 months to be in a spot where I could walk away without losing anything.

 

[captnjbk]

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?

NO WAY. Once you take delivery the value will drop a minimum $10K before you even put a mile on it. Probably twice that.
How do I know this you ask? Well I purchased my Grey JLU Rubicon for $49K. Took it home for the weekend and brought it back the next Monday to let the dealer (big mistake) do a lift, wheels, some accessories, etc...for additional $8K. Went to pick it up on Tuesday and the wife falls in love with a Punkin JLU Rubicon. I figured I could trade in my new Grey Rubi with less then 500 miles on it plus all the new never used accessories for somewhere close to the the Punkin Rubi sticker price of $52K. I was even ok with eating $10K more to make the wife happy.
NO. NO. NO. I was told that the absolute best trade in value they could give me for my jeep was $36K ??? Even spoiled wife said F-that. I can paint it for $21K.

 

[Gregicon]

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?

Futureproof your posts, OP! You really meant to say "....which I'm letting my girlfriend use, on a non-permanent basis." Right?
I'm not a lawyer, but I'd hate to see a fellow Punk'n owner lose their baby if they lose their babe...

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