Trade In Value Plummet of Death

[COBill]

They will once the new 2023s start sitting on their lots unsold.

Sponsored

 

[roaniecowpony]

Some people always leave the casino at the perfect time and sell their GameStop at the peak.

Be confidently content with the use of a nice vehicle for 4 years @ $1K/yr. That's a deal.

Just like the "big casino", you have to have some idle money/vehicles to play the game. And this vehicle game doesn't come along often. In fact, I can't recall the last time this happened. Certainly not to the levels we just saw. Possibly something back in the late 70s, but I don't remember this much upswing in values. And I did buy a used Z28 right in the middle of that.

This was the perfect storm of giveaway money pumped to all the Joes/Jills bag-o-donuts that normally couldn't justify/qualify for a new vehicle, combined with labor shortages caused by giveaway money and covid, which led to all kinds of products and vehicle shortages.

Give a dollar to most people and they look for something to spend it on. Give a dollar to an entrepreneur and they look for a way to turn it into 2 dollars.

 

[RELBUS]

Would it make you feel better if you thought of it more like you lost $2000 for every mile you drove?

 

[RELBUS]

I feel lucky of the timing on my trade/purchase. I paid MSRP for my 21 392. I traded it in for substantially more than I paid. My 22 392 I paid $10k ish less than MSRP.
they gave me more money for the 21 row w/ 2900 miles than what I paid for the new 22 392XR. Bizarre times.

 

[Viking Jeeper]

Yes I understand it is a model year newer and I also understand mine is “used” (actually in better condition than some new JLs I’ve seen on the lot). I also understand that a 2023 driven off the lot will not plummet $20K on paper. I just thought it was odd that Jeep didn’t change anything on the 2023 model and a Jeep with 1000 miles is worth $20K less than a new Jeep. That’s $20 lost per mile driven. I’ve never owned a vehicle that devalued so fast.

You are comparing retail and wholesale pricing.

 

[mnjeeper]

Yes I understand it is a model year newer and I also understand mine is “used” (actually in better condition than some new JLs I’ve seen on the lot). I also understand that a 2023 driven off the lot will not plummet $20K on paper. I just thought it was odd that Jeep didn’t change anything on the 2023 model and a Jeep with 1000 miles is worth $20K less than a new Jeep. That’s $20 lost per mile driven. I’ve never owned a vehicle that devalued so fast.

Did it really plummet that much on paper? I didn't read the whole thread, but I didn't see you mention what you paid for the one you have that "lost $20K".

 

[azjl#3]

I feel lucky of the timing on my trade/purchase. I paid MSRP for my 21 392. I traded it in for substantially more than I paid. My 22 392 I paid $10k ish less than MSRP.
they gave me more money for the 21 row w/ 2900 miles than what I paid for the new 22 392XR. Bizarre times.

mind if i ask why you would trade a 21 in for a 22? I mean I get it, my dad never owned a car more than two years, but thats when they blew head gaskets at 75,000 miles.

 

[Kyanche]

I ran my Jeep's info through Carvana out of curiosity. I have a fairly fully loaded 2020 Rubicon, 6500 miles. Carvana says 43,949 today. They told me 43,345 back in June.

Vroom did offer me 55k last November lol. If I were in the mood to keep flipping I would have jumped for that. However, getting a new jeep then would have cost me enough extra that I didn't think it was worth the trouble lol.

So either the crash already happened , or it hasn't affected the offers carvana gave me yet.

Edit: Perhaps that. Vroom now says $31,200 lol. Yeah I'd NEVER sell it for that. Maybe I accidentally wrote 65000 there lol. IDK.

Edit again: Carmax says $46,000.

 

[RELBUS]

mind if i ask why you would trade a 21 in for a 22? I mean I get it, my dad never owned a car more than two years, but thats when they blew head gaskets at 75,000 miles.

XR wasn’t available when I ordered my 21. Figured I didn’t have much to lose trading in vs. regearing my 21. If trade values plummeted while I waited for the 22, I was prepared to walk away. The opposite happened. I was able to get well below MSRP on the 22, since the 392’s had now been out awhile and volume dealers were dealing, AND insane trade values made my 21 worth more than I paid. I would have been a fool to not do this deal.

 

[Badfish]

Market is starting to come down and it’s getting closer to winter. Think a lot of the dealers are now saturated with used cars.

well buying new was fun for a while... time to go back to used. lol

 

[azjl#3]

XR wasn’t available when I ordered my 21. Figured I didn’t have much to lose trading in vs. regearing my 21. If trade values plummeted while I waited for the 22, I was prepared to walk away. The opposite happened. I was able to get well below MSRP on the 22, since the 392’s had now been out awhile and volume dealers were dealing, AND insane trade values made my 21 worth more than I paid. I would have been a fool to not do this deal.

Thanks, i traded in my 2020 loaded ram with 20,000 miles in 2021 for a 2018 JLUR loaded. Trade in value exact same as purchase price. Saved $8k on 2018 with 8000 miles, rarely driven never seen a dirt road, which i fixed about 10 minutes after leaving lot..

 

[Punkn89]

I ran my Jeep's info through Carvana out of curiosity. I have a fairly fully loaded 2020 Rubicon, 6500 miles. Carvana says 43,949 today. They told me 43,345 back in June.

Vroom did offer me 55k last November lol. If I were in the mood to keep flipping I would have jumped for that. However, getting a new jeep then would have cost me enough extra that I didn't think it was worth the trouble lol.

So either the crash already happened , or it hasn't affected the offers carvana gave me yet.

Edit: Perhaps that. Vroom now says $31,200 lol. Yeah I'd NEVER sell it for that. Maybe I accidentally wrote 65000 there lol. IDK.

Edit again: Carmax says $46,000.

Yeah, Vroom is making worse offers than Carvana now lol, mine was around the same.

 

[40Caliber]

If you stop getting quotes, the price doesn't go down

I drive them for 7 years typically so I don't really GAF

 

[Kyanche]

If you stop getting quotes, the price doesn't go down

I drive them for 7 years typically so I don't really GAF

I hear ya! When I paid off my JK I was thinking of trading it in for a little sporty car. As exciting as it sounded, I felt sorry at the idea of selling my Jeep and not having one anymore. So I ended up buying a JL instead lol. :D

I will pay this one off and just keep it. I love sporty cars but I'm not sure I'll ever actually exercise that interest. We'll see.

 

[Platinum7990]

I ended up getting a 21’ 392 last week with 400 miles on the odometer with a 78k sticker and April 21 manufacture build. I guess the dealer tried buying to flip but never worked out. Ended up snagging it off of them for 76k. I think I made a good deal by buying this instead of my 23’ 392 I ordered which Stickered at 93k. Last minute I came to the realization that paying these inflation prices with just a Xtreme Recon package and half doors is not worth it with the market being so uncertain.

I hope I made the right decision lol

Sponsored