Sell my Willys for a Rubicon???

[SoCal]

Trying to find the relevance of this sentence. So if someone paid cash for their Jeep your neighbors will care what they think?

ironically people who borrow $50K at less than 1-3% interest are wiser than those who pay $50K cash for a car typically, when you can make much more interest on investing it

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[csjlu]

I think that what you are trying to say, based on your well to do hood experience, is that a person who is not as rich (and in fact most people on this forum) would only buy a rubicon as they are trying to exhibit an image of having more money than what they do / to appease some online forum envy?

i'm willing to bet that the sport or saharas they are tooling around in up to their cabins are a nice 2nd or 3rd vehicle for them also

1. No, but I do see many people stretching to buy some things they can't afford. They do it for many reasons, but concern about looks/what others think is frequently mentioned on this forum. At the same time, I also see people who can afford the higher trims but chose not to buy them, either because the lower trims provide them sufficient value, they are choosing to live beneath their means, or they have better uses for their capital. In my case, I've always lived beneath my means because that's how my parents raised me, I invested my savings as a teenager into stocks and eventually real estate, and I always refrained from spending too much on cars. Millionaire Next Door and Dave Ramsey were big influences when I was younger. I've never had a car note in my life, and my first job out of college paid only $18k/year. Now that I'm at the point where I can afford to pay cash for anything within reason, I choose not to do so because I don't really need anything. I have a happy family, we have great trips together, I don't care for flash, and I value my financial freedom. I have what few people in the country have: enough. I wish more Americans would quit putting themselves in a financial bind over silly stuff, but financial rationality often gets trampled by the "who cares, just borrow and worry about it later" crowd here.

2. In some cases that is true, but not always. And if it were not, I'm not sure if would result in a Rubicon over what they already have. In my case, both my Jeeps are daily drivers, and by choice my household has 50% fewer cars than it does drivers. The extra cash continues to go into real estate and investments, since we have no car loans from overspending.

 

[csjlu]

ironically people who borrow $50K at less than 1-3% interest are wiser than those who pay $50K cash for a car typically, when you can make much more interest on investing it

1. 1-3% can still be an unattractive rate, especially when "real" inflation adjusted interest rates are currently negative and Jeep is offering 0% to anybody who can fog a mirror. Your financial situation may be different than mine. With respect to "much more interest," it's hard to do so without shouldering extra credit or interest rate risk, as saving accounts are yielding below 1% and Treasuries are closer 1.5%. To earn higher rates, you have to be willing to accept default or interest rate risk. There is no free lunch in the markets, but you do get to choose where to eat.

2. A low interest loan is still a loan. It can lower your credit score and decrease your aggregate buying power. It also needs to be paid off, and it's possible (likely, even) that a Jeep depreciates below the remaining loan value. It's also possible that other investments sell off, but need to be liquidated at lower prices to pay off the "cheap" loan. This is called an asset liability mismatch, and is a pretty elementary personal finance concept. It is also of no concern to those who pay cash.

 

[aldo98229]

I should sell my Jeep and buy this instead.

Half doors, leather seats, steel bumpers, MTs come standard

 

[dalema]

So how about that Willys? Let us know where you decide to go

btw - looks very cool in the pics!

 

[The Last Cowboy]

I should sell my Jeep and buy this instead.

Half doors, leather seats, steel bumpers, MTs come standard

Nice, that “jeep” was made by Ford in Brazil. The squared off rear wheel is the giveaway.

 

[dgoodhue]

My Willys:

MSRP - $45,730
Discount - ($2,650)
Doc - $449
Tax/tag - $1,524
Rebate - ($500)
—————————-
$44,569 OTD and 36mo @ 0%


Rubicon from Gupton:

MSRP - $51,460
Discount - ($6,579) 8% under invoice
Doc - $499
Tax/tag - $2,058
Rebate: ($500)
—————————
$46,938 OTD

Excellent analysis including the taxes and fees expenses (I think many people ignore these costs). I usually wouldn't recommend buying a new car 6 months later, but I would do this deal if you want the Rubicon. It makes financial sense and your Rubicon's resale value should be higher than the cost difference between your current Willys.

 

[Pepe My Little Mule]

Keep the Willy's, just change the rear LSD's gear oil. First time anywhere between 5 and 10k miles the sooner the better, after that every 15k. Do-it-yourself, It is easier than changing the engine oil IMO.

Rubicon's -according to this forum... they have their own set of issues involving both axles with their sensors/solenoids. Sounds more expensinve to repair then a worn LSD. There is also a "preventative fix" you can do on your own, but it's more complex then changing gear oil.

 

[amajoh]

Super interesting with those lumber prices - just seems like a lot of unstability / uncertainty out there when you have stuff like that happening. I saw that article in the WSJ of people shifting their spending from goods to services also.

I agree with you that people shouldn't be getting in over their heads with using some government check they received to finance a vehicle. Having said that I'm a firm believer in there is a right place and fact pattern for financing. Even a depreciating asset - and while what we are seeing now is not the norm - the wrangler, in particular the Rubi has historically held it's value well for a depreciating asset.

I sold my JL on Vroom - made complete sense to do it, and have another one on order. Sometimes opportunities present themselves and if you've positioned yourself well you should take advantage of them.

How did the Vroom process work, if you don’t mind me asking? I got an amazing quote from them, but the idea of sending my Jeep away and waiting for a check is making me nervous.

 

[dalema]

How did the Vroom process work, if you don’t mind me asking? I got an amazing quote from them, but the idea of sending my Jeep away and waiting for a check is making me nervous.

hi. Yes I was super nervous too - that they would change the price etc. Worked out though, maybe took a bit longer than I’d hoped. Check was issued very quickly though once they had it.

I posted this somewhere on here

Thought I’d share my Vroom story for the sale of my 2021 JLU Rubi. The short story:
- sold it to Vroom for more than I paid for it 18 months ago at $54,000!
- processing took longer than I’d expect (see timeline below), but worth it for $4K more than Carvana or CarMax
- happy with the outcome, would use them again (if not in a rush)

Background:
1/15 - Carvana appraisal - $40,100
4/19 - Carvana appraisal - $50,100
4/19 - CarMax appraisal - $49,000 - had to go into the store
4/19 - Vroom appraisal - $49,500
4/22 - Day before appraisal expires an increase of $500 to $50,000

The final deal:
4/23 - Vroom appraisal - $54,000
4/30 - accepted appraisal, sent in my details
5/7 - requested for more information, the back of my DL
5/12 - paperwork to sign for the sale - a one page doc that needed a signature
5/18 - carrier assigned for pick up
5/25 - picked up
5/27 - check sent by FEDEX
5/28 - check received

https://www.jlwranglerforums.com/forum/threads/carvana-or-vroom.71119/

 

[amajoh]

hi. Yes I was super nervous too - that they would change the price etc. Worked out though, maybe took a bit longer than I’d hoped. Check was issued very quickly though once they had it.

I posted this somewhere on here

Thought I’d share my Vroom story for the sale of my 2021 JLU Rubi. The short story:
- sold it to Vroom for more than I paid for it 18 months ago at $54,000!
- processing took longer than I’d expect (see timeline below), but worth it for $4K more than Carvana or CarMax
- happy with the outcome, would use them again (if not in a rush)

Background:
1/15 - Carvana appraisal - $40,100
4/19 - Carvana appraisal - $50,100
4/19 - CarMax appraisal - $49,000 - had to go into the store
4/19 - Vroom appraisal - $49,500
4/22 - Day before appraisal expires an increase of $500 to $50,000

The final deal:
4/23 - Vroom appraisal - $54,000
4/30 - accepted appraisal, sent in my details
5/7 - requested for more information, the back of my DL
5/12 - paperwork to sign for the sale - a one page doc that needed a signature
5/18 - carrier assigned for pick up
5/25 - picked up
5/27 - check sent by FEDEX
5/28 - check received

https://www.jlwranglerforums.com/forum/threads/carvana-or-vroom.71119/

So they offered you more than the original appraisal? Did you ask for another appraisal, or did they just offer an additional 4K?

 

[dalema]

So they offered you more than the original appraisal? Did you ask for another appraisal, or did they just offer an additional 4K?

The quotes they give you normally last a week. I let it lapse, then asked for a new quote the next day.

I'd say nothing about the process was very difficult. Everything except the pick up was done online.

 

[aldo98229]

Kent got back to me.

My 2018 SAHARA:
MSRP $50,000
Paid $38,000

Mods:
Added $12,000 in Mopar lift, 35-inch tires, wheels, Katzkin leather, Mopar LEDs, steel bumper and winch

Total spent $50,000 + tax

Vroom’s offer for my Jeep with 6,500 miles - $43,650

2021 SAHARA - factory order
MSRP $56,700
Peterson’s quote $49,500 + tax

Mods:
I can swap my current 35-inch tires, steel bumper and winch. I still have the OE parts in the garage. But I’d need to add a lift and adjustable track-bar for $3,000.

Total to spend: $52,500 + tax

Kent’s quote is excellent, very detailed, and he is very professional. But it doesn’t make financial sense for me to get rid of my JL with low-miles, especially now that it is set up the way I like it.

 

[Mike8194]

So they offered you more than the original appraisal? Did you ask for another appraisal, or did they just offer an additional 4K?

You can keep checking every few days with a private browsing window and 2nd email address (don't login). Then when you get a quote that is higher, login to Carvana, go back to your original quote, edit details, add 1 mile and update. You are locked for 7 more days. Mine has gone up almost 3k in 2.5 weeks. I just keep locking for 7 days and waiting. When it stops going up I’m gonna sell, and order from Gupton.

 

[carpendj]

While this is an admittedly small sample size, in my neighborhood there are seven of us with wranglers. I live in a zip code where people do not finance cars. My neighbors are people who have reached a level in their personal and professional lives where they are no longer burdened with having to give two sh!ts about what other people think of them. What I find interesting is that all of these wranglers, with the exception of one of mine, are Sports and Saharas. Only one (mine) is a Rubicon. All of these wranglers see trail time in some form or another, as almost everyone has a cabin or second home in the mountains and enjoys driving offroad. I can say from experience that not one person is living with regret, nor do they care that somebody who had to borrow money to buy a $50K truck thinks they do. It's amazing how capable Sports and Saharas become once you have a few bricks in the bank and don't need to impress anybody.

Trying to find the relevance of this sentence. So if someone paid cash for their Jeep your neighbors will care what they think?

Makes zero sense and those neighbors sound like they have more money than brains. Vehicle loan rates at my Credit Union are at 1.95%. Instead of putting all the cash into what is typically a depreciating asset, they should put some of that money into other investments and enjoy the double digit returns.

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