Trade in Values tanking

[Ratbert]

Note that the Wrangler is still apparently coming in at #4 in resale value: https://www.jlwranglerforums.com/forum/threads/wrangler-comes-in-at-number-4-for-resale-value.122554

Sponsored

 

[TrentYoung]

Well if you see the massive difference between the 2022, 2023, and the style and added features of the 2024 you might realize that most wouldn't want to go backwards in style and function. I was in the showroom in the middle of a purchase of a 2023 Rubicon 4Xe and the salesperson walked away for a moment. I looked down at my phone and saw the article expressing the future of the Wrangler and its features for 2024. Such a difference that I was out of the dealers showroom and on my home computer. Had to wait 6 weeks to place the build that was just a dream.... took it down to my local dealer because I already knew the cost. The time in the dealership, to place the order, was less than 20 minutes because it took me 10 of those minutes to talk the price down $3,000 and have them throw in a MOPAR $0 Deductible, bumper to bumper, 8 year or 120,000 mile warranty. ***Remember.... all dealers make their money in the Service Department and not on the Sale Floor.
Anyway, 76 days after the order I received my 2024 Jeep Rubicon X 4Xe with all the options I wanted. So happy I did not settle for the 2023 and that tiny screen and no power seats. And of course the Power Box is a great addition along with the wireless CarPlay.

 

[Whaler27]

No conspiracy at all. This fake overinflated bubble was going to burst at some point and it has. Used car values (aside from collectibles) have never gone up, only down through all of my years of driving. Crazy to think it was not going to go back to that.

It is standard MO for a dealer to steal your car and sell you theirs...

Yup.

For as long as I can remember, the general rule of thumb has been 20% depreciation as soon as the new vehicle rolls off the lot. That varies, obviously, with some vehicles, (eg; Cadillac Escalade) consistently taking a harder beating, and others doing slightly better. Also, the 20% number assumes market conditions remain constant and the vehicle is bought “right” Initially. People who pay an inflated price take an ever harder beating when trade time comes.

Wrangler sales have dropped sharply, so the new ones are being discounted and Jeep is adding finance incentives and other goodies. That hurts the used market too, especially for the folks who finance, as the finance incentives lower the cost of going new, so deeper discounts are needed to attract them to the used alternative.

As many have noted, and many of us predicted over the last two years, we have returned to historical normal.

 

[Ratbert]

It could be worse (at least from a resale perspective). Tesla is reducing the cost of some of its vehicles, trashing their resale values.

 

[Whaler27]

It could be worse (at least from a resale perspective). Tesla is reducing the cost of some of its vehicles, trashing their resale values.

One of the guys I work with, a former bull rider who has never owned anything but pickup trucks, just bought his wife a Tesla.

The world has officially been turned upside down.

Sponsored