Sale or hold before trade

[Deleted member 59498]

My biggest problem right now is that while I wait on my new build for a Wrangler is the offers on my current one. Since I can't get the financing and get every thing locked in before the dealer has the new Jeep I am little worried about trade in or selling current JLUR. Givemethevin is a little lower than Vroom but not by much.

Anyway it is hard to decide to sell now or if current wrangler will be worth the same next year when my build will be completed (hopefully). Right now I am offered more than I paid which is hard to turn down, of course I would have to find a new car to drive until 4 months waiting on a new Jeep.

I am rambling and just confused a bit with these crazy prices, is there some hook in these prices from these guys are something that is not right? I mean I am a true believer in too good to be true.

What do people think take the best you can now or wait and hope used sales are still high when your build gets here? Of course dealers always low ball anyway. Kind of tough almost worth buying a beater for a couple thousand for a few months and sale now.

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[2nd 392]

P

My biggest problem right now is that while I wait on my new build for a Wrangler is the offers on my current one. Since I can't get the financing and get every thing locked in before the dealer has the new Jeep I am little worried about trade in or selling current JLUR. Givemethevin is a little lower than Vroom but not by much.

Anyway it is hard to decide to sell now or if current wrangler will be worth the same next year when my build will be completed (hopefully). Right now I am offered more than I paid which is hard to turn down, of course I would have to find a new car to drive until 4 months waiting on a new Jeep.

I am rambling and just confused a bit with these crazy prices, is there some hook in these prices from these guys are something that is not right? I mean I am a true believer in too good to be true.

What do people think take the best you can now or wait and hope used sales are still high when your build gets here? Of course dealers always low ball anyway. Kind of tough almost worth buying a beater for a couple thousand for a few months and sale now.

Production issues won’t be over anytime soon and could likely get worse due to aluminum shortages. Could be a long wait.

 

[rriglesias]

Hold until your new build is at least shipped from Factory. You will have approx. two weeks to sell your Wrangler, which should be enough. Even though you can sell now at a higher price, you”ll have to buy another vehicle at the same high price, and the potential mechanical issues.

 

[The_Irish_Weaver]

Right now I am offered more than I paid

A wise man once said: "you dont go broke making a profit"

the used market has never been higher....nows the time to sell...a few weeks shouldnt matter, get your new one (or make sure its shipped)! nothing in the future is certain...but never in history could you sell a used car and make a profit outside it being a classic/vintage

 

[rcadden]

TBH we don't really have enough information to go on here.

1) Are you relying on the cash you get from selling to help purchase your new one?

2) Do you have a cheap/reliable method of getting a vehicle to "hold you over", or would you be renting/buying another used car?

3) What status is your new build in?


Without that information, my recommendation would be to hold. It's going to be a bigger hassle to try to buy something "to hold you over" given how inflated the market is right now, and you'd likely be buying something cheap anyways - which opens you up to unnecessary repairs, etc. Additionally, unless your build has actually shipped, you have no clue how long it'll be or if issues will arise when they actually start building '22 models that delay production, etc.

It's highly doubtful that used car prices will drop that quickly in such a short amount of time. Sure, you might lose out on a few thousand, but you'd blow that on picking up a used "hold-me-over" ride anyways, wouldn't you?

TL;DR - unless you have a spare car already, or an insanely generous friend who'll let you borrow a vehicle for the next ~4-5 months, I'd hold. Once you've received confirmation that your Jeep has shipped from the factory, that's when I'd start getting offers and trying to sell your current Jeep.

 

[Some Random Guy]

If it makes you feel better, when you hold the car and trade it in you save on taxes with the new car. So unless your old vehicle falls by $4k or more, you will still come out even or ahead. Keep in mind too, if your old vehicle loses value the new market probably decreased too, so you might get a better deal.

 

[Carlton]

If it makes you feel better, when you hold the car and trade it in you save on taxes with the new car. So unless your old vehicle falls by $4k or more, you will still come out even or ahead. Keep in mind too, if your old vehicle loses value the new market probably decreased too, so you might get a better deal.

He will want to check his state's trade in tax laws. Some states have done away with the tax incentive, or have capped it. For example: IL has now capped it at 10k. Anything over 10k you pay the rest of the taxes.

For me it worked out better to sell prior in IL and buy out of state. The tax savings was only $825 by doing both in IL. Buying out of state I saved thousands eventhough I paid the extra $825 tax.

 

[Gazelle]

I'd suggest you keep your current Jeep and wait for your new one to show up at the dealer. I had quotes for my Focus ST from Vroom, Carvana, etc, but the best deal was offered by the dealership where I bought my Jeep + I saved $1750 on WA state sales tax.

 

[Deleted member 59498]

Thanks for the tips! Yeah might just keep for now no telling how long it will take anyway to get it in. Would suck to have to order again or something goes wrong. Hopefully prices will hold.

And yeah I will be putting any trade in cash on the new one. It is a 2022 so will be a while before building.

 

[Retrograde]

...Hopefully prices will hold...

At this point, the only one still saying that inflation is transitory and the supply problems temporary is the government.

 

[entropy]

it is inflation.... sure you sell your Jeep for more than you paid. But then new Jeep prices also went up... Selling now and waiting to see if prices come down is not smart imo, because there is too much uncertainty right now and it really looks like inflation is not gonna be temporary. Selling now and buying new will be the same as doing this in the next few years honestly.

Also keep in mind taxes. You paid taxes when you bought the Jeep. Now you will also pay taxes when you order the new Jeep. You are not making a profit, and if you are, it is miniscule.

You might come up even if you got a great deal to start with when you bought your Jeep. When I bought my 2019JL deals were amazing. I paid 31.5k for a 39k MSRP brand new Jeep. So If I sold mine today I will most likely come out even due to massive california taxes (got offered 38k by VROOM).
But I wont sell. Why? because I know my Jeep will still be valuable a few years from now, minus depreciation. I can still sell it for a good chunk and put it towards a new jeep in the future.

It really doesnt matter. Sell and buy when you want. The best time to buy a new vehicle is when there are good deals, because that helps on your depreciation. See I bought for 31.5k I will likely be able to sell it for the same amount in a few years because I bought under market value.

Selling you always lose unless you go on a private sale. So focus on new car deals rather than selling prices is my opinion. And if you really want a new jeep now, do it, doesnt matter. But dont stress about prices being high now. Used jeeps have always been expensive.

I dont think this is a good time to sell anything. I think this is a good time to invest and hold.

 

[Deleted member 59498]

Yeah as I said already ordered for a replacement. But crazy times right now.

But yeah they held their value even before the crazy started.

 

[summer4x]

P

Production issues won’t be over anytime soon and could likely get worse due to aluminum shortages. Could be a long wait.

Nah. Everybody is calling for them to worsen when things are actually improving. GM is all up and running again with no future shutdowns expected. The worst is behind us, and with all those stimmy checks gone, a glut of vehicles is forthcoming. Car buyers and sellers turned into speculators. Many will get burned in the coming 12 months.

PS - People are ignoring the effects that high gas prices have on household budgets and vehicle demand, and that doesn't even get into the massive inflation in food and other things that are eating away at disposable income. Back in 2008 during the last oil spike, I saw trucks and SUVs parked everywhere with "For Sale" signs hanging on the windows. Memories are short, but a reality check cometh for many.

 

[2nd 392]

Nah. Everybody is calling for them to worsen when things are actually improving. GM is all up and running again with no future shutdowns expected. The worst is behind us, and with all those stimmy checks gone, a glut of vehicles is forthcoming. Car buyers and sellers turned into speculators. Many will get burned in the coming 12 months.

Hope you’re right, but we got a lot of speculation about an aluminum shortage recently. Real or fear porn ?

 

[summer4x]

Hope you’re right, but we got a lot of speculation about an aluminum shortage recently. Real or fear porn ?

Everything is fear porn these days. It's pretty sickening, to be honest. Even worse, there are assertions that a lot of theses so-called "shortages" are actually super wealthy speculators hoarding commodities and things. The United States Of Greed is at a very low moment.

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