Trade Values Crashing?

[gsbrockman]

Just this Friday I received a cash purchase offer on my 2021 Wrangler Unlimited Willys (see signature) with 16.2k miles on it.

Offer was for $42,000 and the MSRP was $46,430

In my area....seems like values and resale are still somewhat strong...IMO.

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[MountainRigged]

Used prices are down about 9% in the last 3 months

Not for Gas Wranglers.

Most of the rest of the entire Car Market thought yes, I posted about this recently, but the 4xe is an exception.

4xE down -3.35% in 90 days, -1.74% 30 days. About the average of the market.

Gas Wranglers are up +28.29% in 90 days, and +31.26% 30 days.

YoY(Year over Year) markets are up generally. But, 4xE is down
-1.92%. Wranglers are up +31.58%.

This is the difference you are seeing.

https://www.cargurus.com/Cars/price-trends/Jeep-m32

Also to keep in mind, Gas starts far lower numbers @ MSRP, with a 2018 at $37,263. And a large range to offset downs if it had any. But Wrangler is taking Jeep to the top of the Market for Price Trends, and making up for all the other models low performance numbers over the last few months.

Wranglers are one of, if not the highest value right now.

Haven't thoroughly checked, but from what I did check, nothing else was close. Feel free to check that link out for some interesting stuff.

 

[Bayrat]

Not for Gas Wranglers.

Most of the rest of the entire Car Market thought yes, I posted about this recently, but the 4xe is an exception.

4xE down -3.35% in 90 days, -1.74% 30 days. About the average of the market.

Gas Wranglers are up +28.29% in 90 days, and +31.26% 30 days.

YoY(Year over Year) markets are up generally. But, 4xE is down
-1.92%. Wranglers are up +31.58%.

This is the difference you are seeing.

https://www.cargurus.com/Cars/price-trends/Jeep-m32

Also to keep in mind, Gas starts far lower numbers @ MSRP, with a 2018 at $37,263. And a large range to offset downs if it had any. But Wrangler is taking Jeep to the top of the Market for Price Trends, and making up for all the other models low performance numbers over the last few months.

Wranglers are one of, if not the highest value right now.

Haven't thoroughly checked, but from what I did check, nothing else was close. Feel free to check that link out for some interesting stuff.

Thank you for this post! I was ready to let the dealer have mine early to ensure the price they quoted me in June when I ordered my 392.

 

[m3reno]

The interest rate hikes by the Fed Res Bank are to blame. But they're doing what is intended. I hope this all settles down quickly. But if history is any indicator, it will take more than a few years.

The Feds actually don't know what they are doing and as a result are being overly aggressive with their rate hikes in hopes of trying to control inflation. It would take 6 months to a year to actually know if it helped or not. Europe is in a freefall but the US may make it out unscathed as the British pound was down to a 1.07 and the euro is 1 to 1. Last time the British pound had the 1 to 1 value with the US dollars was back in 1971. That trillion dollar inflation reduction act had nothing to do with reducing inflation and more of promoting green energy.

 

[Xspurt]

One thing to keep in mind when you show up to a dealer expecting to see the statistical or newsworthly 9% or whatever decrease in values ... The dealer (or seller, really, could be a private party) will be in denial over the decrease and insist it doesn't apply in their particular case and asking prices will remain high, at least for a while, as sellers go through the equivalent of "The 5 stages of grief."

 

[JSFoster75]

About twice a month for the past six or eight months, I have checked the value of my Jeep on Carvana, CarMax, and a few other reputable sites. The amount of money they are offering for my Jeep has declined drastically over the past 4 to 6 months. By as much as 20% from the highest point to the lowest point.

The offers I have received from AutoNation and other local Jeep dealers by far exceeds anything I’ve been offered by the online only dealers.

The biggest thing that irks me about 4Xe keeps is that all of the dealers are asking almost MSRP for a used 4XE Jeep knowing that the original buyer bought it just to get the $7500 tax credit. I think there’s going to be a rude awakening when people go to file their taxes and expect a $7500 rebate check and all they get is an “up to $7500 credit“. If they think the IRS is going to write them a $7500 check because they purchased a 4xe, they are going to be sadly mistaken.

 

[Spartan99]

Yep. The bubble is starting to burst already. I think it will be totally popped by next Summer!

Some of us have been waiting on the sidelines patiently. The time to scoop up stocks and second homes or a Jeep or whatever, on the cheap, is right around the corner. Woohoo!

 

[JeepViking13]

Some of us have been waiting on the sidelines patiently. The time to scoop up stocks and second homes or a Jeep or whatever, on the cheap, is right around the corner. Woohoo!

Yep. You got it. I agree 100%.

 

[Vinman]

Used vehicle prices never increased, the buying power of the dollar just tanked

 

[macphisto13]

Nothing is going to make much sense in this market for another year probably. Best thing you can do is hold on to what you have for right now and don’t ever look at your 401k

Where's the deflated, crying, laying on the floor in a fetal position emoji when you need it?

 

[COBill]

Oh im not looking for the crazy inflated values that were happening last year but North of 11k depreciation on a 6 month old low mileage wrangler is not a normal thing in my experience. Maybe other cars but not Wranglers.

This was always the case for Wranglers in the past, as Wranglers basically suffered the same depreciation as any other vehicle.

I know that was certainly true when I had a TJ.

I've heard people all over saying this but for me it was the polar opposite. I've sold 2 vehicles to Carvana over the last few years and got way more than I should have.

Which is why they are in severe financial trouble right now.

https://www.thestreet.com/investing/carvana-the-amazon-of-car-dealers-is-in-deep-trouble

 

[UtahDirt]

it’s all perspective…I hear you that it will get worse and then eventually better and good times will be back.

i just think it is worse now…or as you say knee-deep…we just don’t realize it. I actually would suggest it is about ‘hip - deep’ right now…

the next few months may be interesting …

Hip Deep, and higher, describes those in Ian's wake. You have all the comforts of home, don't overplay the situation.

 

[LuvHydro]

 

[roobies]

The biggest thing that irks me about 4Xe keeps is that all of the dealers are asking almost MSRP for a used 4XE Jeep knowing that the original buyer bought it just to get the $7500 tax credit. I think there’s going to be a rude awakening when people go to file their taxes and expect a $7500 rebate check and all they get is an “up to $7500 credit“. If they think the IRS is going to write them a $7500 check because they purchased a 4xe, they are going to be sadly mistaken.

was talking to a tax person I know and more or less what they explained to me. If you owe $7500+ in taxes you may get that $7500 credit. If you owe less than $7500 in taxes you will get some amount of credit but it will be a sliding number based on what you owe.

 

[Skyward]

Just this Friday I received a cash purchase offer on my 2021 Wrangler Unlimited Willys (see signature) with 16.2k miles on it.

Offer was for $42,000 and the MSRP was $46,430

In my area....seems like values and resale are still somewhat strong...IMO.

Similar situation here.

I sold my 2012 Grand Cherokee for about 50% more than it was worth a few years ago. Crazy offers from Carvanna and Carmax. I ended up selling to a local dealer however at an even better price....said they can't get enough inventory.

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