Trade Values Crashing?

[ViperJon]

The trouble with any hybrid or all electric is who the hell is going to want it three years from now. There will be better models, better batteries and better implementation of the technology. You will have Iphone 8's. Someone might want it...at a huge discount. Gas is gas and always will be.

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[Geoarch]

I'm getting $35,500 for my 2019 Tacoma TRD Off-Road 4x4 with 40k miles and I only paid $31,000 for it back in September of 2021. So from my perspective, the trade values are still just fine.

I got $43,000 for my 2018 TRDPro, which was the 2018 MSRP, but that was in late July.

 

[Koolkarguy]

Anybody else noticing obscenely lowball trade in offers recently from the normal quick sale types of places like carvana, carmax, etc? To give you an example my 22 4xe sahara that stickered at 61k is getting offers around 45-50. Maybe with interest rates up and everything else that is going on dealerships arent real excited about taking on additional used inventory unless they can get a steel of a price? Curiuos what others are experiencing right now and if you are getting good offers, please point me in the right direction.

Prices haven't changed at the block as a dealer i can tell you on the auction block prices are still stupid high. The used car market is slow at the moment but its not affecting prices. Try looking at different dealerships or maybe a new car store. Dealerships are not hurting for paying to much there just passing it on to the consumers who obviously for the most part are just paying the price. Good luck Wranglers hokd there value better then just about anything out there

 

[kjl2020]

I sold my 2020 base model (literal base, manual everything) for $31,500 in May, bought it for $30,000 new. It had about 22K miles if I remember, and had been in a major accident requiring the frame to be replaced. I think the days of high trade ins are going out the door.

 

[Chupacabra]

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.

I got the full 27% tax credit on my solar panels last year. IRS wrote me a check for $4,500. My total fed tax due was over that credit amount, but since I had paid in roughly what I owed in fed taxes, I got the rest back.

 

[TheRaven]

The inflated used market is definitely starting to "deflate". But I highly doubt it's going to be a "burst" or "crash"...it's just going to be a slow decline back down to wherever it's going to settle (which is probably still pretty high in comparison to where we started). This is a fairly new thing, it just started happening in the last 2-3 weeks. It seems that the last interest rate hike, along with the fed making it very clear that they intend to continue making life harder for us while not actually fixing the actual problem has made a real impact. I unloaded my Challenger last week because I had one of the last "stupid high" trade offers from Vroom...no dealer online or otherwise was coming anywhere CLOSE (like $10g's low in fact), so I figured i'd better "get while the gettin' was good".

In short, if you got a disappointing trade offer, try other sources, or just wait a week or two and try again.

 

[TXPearl]

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

You don't actually believe this, do you? Must be some sort of data anomaly. If you drill down into the detail, there are some extreme values for very old model years.

 

[JLUandCJ-7]

Anybody else noticing obscenely lowball trade in offers recently from the normal quick sale types of places like carvana, carmax, etc? To give you an example my 22 4xe sahara that stickered at 61k is getting offers around 45-50. Maybe with interest rates up and everything else that is going on dealerships arent real excited about taking on additional used inventory unless they can get a steel of a price? Curiuos what others are experiencing right now and if you are getting good offers, please point me in the right direction.

I feel like the $7,500 tax credit plays into this. Was sticker what you paid? Minus the tax credit from the sticker price, you land around $53,500. So, $45-$50K seems reasonable, especially if you bought under sticker. The 2nd buyer doesn't get that credit.

 

[MountainRigged]

You don't actually believe this, do you? Must be some sort of data anomaly. If you drill down into the detail, there are some extreme values for very old model years.

I do, I went into all of the data. There are many reasons for older year models to raise in value, but as you can see from the data, much of it was also the 2018 and beyond model.

 

[No IFS]

Trying to trade 4XE on a 392 And they don’t want the 4XE. That tells you everything you need to know. I love it. Reality the exact opposite of the narrative.

 

[3TV]

I've done a bit more vehicle trading in the last few years than I usually do. When the Gladiator Mojave came out I thought it might just satisfy a need I have had for the last 40 years, of owning both a Jeep and a truck, so I bought a 2020 model. It didn't. I ordered a 2022 TRX in May of 2021, and in July of 2021 traded in my Gladiator. I paid $53K for the Gladiator, and they gave me $56K on trade. But I needed an off road vehicle for the 10 months it took for the TRX to show up, so I also bought a 2021 JKUR that was fairly stripped down. It only had two options, an automatic transmission and a hardtop, and I paid $43 K for it. The TRX showed up in March 2022 and I was back to owning a truck and a Jeep again. All was good until June 2022 when my dealer called me and said they had a 392 XR that had just come in, and the person that ordered it had backed out of the deal, so it was available. I made the mistake of looking it over and doing a test drive. Then the dealership went and offered me $48 K for the JLUR I had paid $43 K for just 8 months ago, which made it hard not to trade it in. So Now I've got both a TRX and a 392, which I plan to keep, so it doesn't matter what trade in prices do now. But by doing the trading when trade in prices were crazy high, I got $8K back, complments of inflation. And with trade ins, sales tax was resonable as well.

Crazy world we live in. I got an 11% return on buying and trading new vehicles last year. That is a whole lot better than the return I got on my 401K and other accounts.

And yes, we are in a recession right now. The TV news won't admit it until after the election though.

 

[Santana74]

Just checked my truck value with Carmax, Vroom, and Carvana. My truck dropped 8k in the last 3 months on Carmax. Carvana was the highest and 4.5k more than Carmax and 1k higher than VRoom.

 

[macphisto13]

I just checked and both Carvana and Vroom are thousands under what I paid for my Jeep a few months ago. Looks like the days of selling for more than we bought it for are gone.

 

[NebulaPHEVJeep]

Let us not forget that Used Car price insanity was impart due to parts and CPU shortage. That drove up the need for used cars, and hence, raised tradin value. Now that the supply chain is returning to normal, and we don't have 6mo waiting times on new vehicles, used isn't in the same demand.

 

[ChuckQue]

Oddly enough, this morning I’m trying to do my daily check of inventory using the Jeep page and it’s only displaying 4xe’s. I thought maybe I had checked the wrong engine filter, but when I went back to look that’s the only option available in the filter menu.

Coincidence? I know the site is buggy as hell, but it just seems weird that right after reading this thread and about the 4xe’s that this would happen…..

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