Trade in Values tanking

[Strommen95]

The more options you have, the worse your resale will be.

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[Punkn89]

I guess y’all can’t keep trading your less than one year old Jeep for a brand new model every time a new season rolls around! Mwahahahaha!

This does not apply to you rich folks ?.

on a real note…

I’d expect more people will continue to be surprised as used cars and trade in values continue to go back to normal. Im sure this won’t be the last thread. If you got a sweet deal on a trade during the pandemic spike, awesome, now hold onto what you traded for and just enjoy it!

 

[Sparty]

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...

Just wait until Carvana has to unload their mountains of inventory

 

[The Last Cowboy]

Have you seen Carvana's prices? They will never get rid of it unless they morph into something like Drive Time, a buy here pay here, repo lot.

 

[Geronimo]

My jeeps will be going to the grandkids. That is if the Krumlin and schwab will still allow them on the public paid for roads.

 

[GtX]

Every owner thinks their asset is special and becomes frustrated when introduced to reality.

 

[bradcrc]

as long as new car prices don't plummet.

Nah, that would be fine, and good for lots of people, I would just personally be sad since I just bought one at the current prices and would feel bad about that if new ones were selling much cheaper than I paid.

 

[GearWhore]

At least you didn't get a Tesla in the last 7 months (or especially a week ago)!!

 

[swavescatter]

Just this weekend I traded in my 21 Prius Prime and 12 JKR towards my new 23 JLUR. I had shopped my trades at a few dealers and was shocked when they gave me what I paid for the Prius ($2k above new MSRP) and a few grand more than the other dealers for my JK.

Flip side is I had to eat about $3k in bogus dealer fees above MSRP on the new JLUR, but it had all the options I needed and saved me from struggling to sell to flaky Craigslist buyers...

 

[Opus]

I just did a check of my trade-in and was surprised the value actually gone up a bit. I made the deal in July trading in a 2016 Renegade for $17K. They honored that in November when the new Jeep arrived. At that time I checked Blue Book and it was a little less than $17K. Now, Blue Book has it at $18,500 as an average. Odd.

 

[Punkn89]

I just did a check of my trade-in and was surprised the value actually gone up a bit. I made the deal in July trading in a 2016 Renegade for $17K. They honored that in November when the new Jeep arrived. At that time I checked Blue Book and it was a little less than $17K. Now, Blue Book has it at $18,500 as an average. Odd.

Meh, I’d take blue book values with a grain of salt.

 

[AlgUSF]

Meh, I’d take blue book values with a grain of salt.

Yeah, they're no where near as accurate as Zillow "Zestimates". I know folks who are looking at their Zestimates weekly talking about the money they "made". LOL! I have a house, but don't count the money as made until I sell it.

 

[Bmeister]

This will hurt the lease folks who flip vehicles every 3yrs and expect "amazing" monthly payments, IMHO: they'll not be getting loaded Wranglers at Camry payments next year. Since I buy and keep my vehicles 7-10yrs, the long term Wrangler values should still historically hold and work out well finance-wise for this depreciating asset. Those whose several-year-old Wranglers remain relatively "unmolested" will do well vs one that looks like it had a JCWhitney magnet.

 

[2manyhobbies]

I sold my 4xe to Carvana in early September (from a July quote). Just checked their website, and they have a sale pending on it - for LESS than what they gave me. Four months of carrying costs too.

So far, my XR was been perfect (except for the 17mpg that I average, but hey 3.6 torque is nice!) in 10,000 plus miles.

 

[Valpo Jeep]

Get a price from Carmax and see what they will offer. My FIL went to trade in his Dodge Ram Cummins and the Jeep / Dodge dealer tried to low ball him. He showed them what the offer from Carmax was and they beat it. His old truck did not last a week on their used lot.

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