Went to Car Max to see what they value my JLUR at...

[rubydoo]

Went to local carmax to see what they value my JLUR at out of curiousity.

I have 5k miles. It's a white unlimited rubicon. I have the automatic with nearly every option except painted fenders, towing package, and the aux power package. (but I have everything else from the keyless entry/start to the upgraded touchscreen and sound system)

$38k.

I laughed and left. The cheapest JLUR on auto trader was like $46k and it had no options. My window sticker was $52k when I bought it a few months ago.

I guess I'll go private party if I sell! Thought you guys might find that intersting. Carmax is generally known for giving decent prices but not for my JL!

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[Wanderingwheelz]

Carnax might be seeing the same thing with cars that Redfin said about homes last week when their stock tanked 22%.

Carmax is only going to pay top dollar for a car that they need. Take a look at GM, Ford and FCA stocks have all gone down recently.

Credit is tightening.

 

[rubydoo]

They said they sell a lot of wranglers and that they fly off the lot, but I guess a recession is coming!

 

[RubiconRider]

I sold my 09 Z4 for 7k more than what Carmax said they would give me. Listed it on cars.com and it was sold in 8 days.

 

[Wanderingwheelz]

They said they sell a lot of wranglers and that they fly off the lot, but I guess a recession is coming!

Regardless, there’s a TON of auto debt out there. Unlike any other time in history. Carmax knows this, and it’s understandable if they’re worried by what they see.

The price they offered you is simply a reflection of current market conditions.

I don’t think even a Rubicon could scale that mountain of debt.

 

[millerjl]

Always got low ball offers from carmax. Sold one of my JK's to vroom (online company from texas) and got 7k more than carmax.

 

[Wanderingwheelz]

I sold my 09 Z4 for 7k more than what Carmax said they would give me. Listed it on cars.com and it was sold in 8 days.

I read that on one of your other posts. When it’s time to sell my Wrangler I’m going to hopefully be able to find you so that I can learn how not to get my car stolen by Carmax.

 

[Goin2drt]

People always say Carmax pays top dollar. I have tried 2 different ones with about 5 different vehicles and EVERY time they low ball the hell out of me and I walk away.

Carmax sucks in my book.

 

[Wanderingwheelz]

People always say Carmax pays top dollar. I have tried 2 different ones with about 5 different vehicles and EVERY time they low ball the hell out of me and I walk away.

Carmax sucks in my book.

The only person I know personally who sold a car to Carmax sold an old 4Runner that was flatbedded two blocks away and limped onto the lot to dump since it had a transmission that was barelllyyyyyy working.

 

[RubiconRider]

I read that on one of your other posts. When it’s time to sell my Wrangler I’m going to hopefully be able to find you so that I can learn how not to get my car stolen by Carmax.

Sure no problem pal! You'll need all the help you can get!

 

[guarnibl]

Carmax is only good for cars worth sub $20k IMO. Also, list prices are a joke. Never use that as a data point when a vehicle is first released.

With that said, what is auction value? I could see $38k being auction value given that dealers are selling MSRP'd $52k Unl. Rubicons for $46-$47k before taxes/fees. Absolutely sell private of course, but given the discounts and needing room for profit, that doesn't seem completely insane. Low though, for sure. But knowing that I could buy a brand new ordered Wrangler for close to what I said off sticker.. I'd probably want at least $3-4k off that price for a used one, from a dealer. Less for private party. That puts it about $43k used from a dealer, assuming they're making $3-4k on the car, you're at $39k-$40k trade.

Seems that JL's have more discounts than the JK's used to have, from what I see. This may translate into more depreciation from sticker the first year, which is not what people who have been buying JK's are used to. As vehicles get more expensive, the depreciation % starts to sting a bit more since the $ value is higher.

 

[Wanderingwheelz]

Carmax is only good for cars worth sub $20k IMO. Also, list prices are a joke. Never use that as a data point when a vehicle is first released.

With that said, what is auction value? I could see $38k being auction value given that dealers are selling MSRP'd $52k Unl. Rubicons for $46-$47k before taxes/fees. Absolutely sell private of course, but given the discounts and needing room for profit, that doesn't seem completely insane. Low though, for sure. But knowing that I could buy a brand new ordered Wrangler for close to what I said off sticker.. I'd probably want at least $3-4k off that price for a used one, from a dealer. Less for private party. That puts it about $43k used from a dealer, assuming they're making $3-4k on the car, you're at $39k-$40k trade.

Seems that JL's have more discounts than the JK's used to have, from what I see. This may translate into more depreciation from sticker the first year, which is not what people who have been buying JK's are used to. As vehicles get more expensive, the depreciation % starts to sting a bit more since the $ value is higher.

That’s all true. The best thing FCA can do for current owners is keep raising the price on the Wrangler and its options. So far it seems like consumers will absorb pretty egregious mid model year price hikes.

I drove almost 2 hours outside my market to find my Jeep at pre-July pricing on the window sticker. My local dealer would have gotten my business if some Jeeps hadn’t gotten more expensive (like the one they had) than identically equipped others.

 

[viper88]

Shop your JL to other dealers if you really want out quickly. There will be a dealer willing to pay more then $38K. Too soon for any Manheim results but I would not be surprised at $40K-$42K wholesale number.

 

[Gabbman]

Yes. I don’t think that’s insanely low. Almost new used cars can be a giant pain to sell. The reality is unless it’s a substantial discount at the more than 40k sticker most people will just buy new. Selling a barely used car is always hard. Because if I’m gonna pay you 40k~43k that you probably want I’d add a few $$$ and order a new one.

 

[RubiconRider]

Yes. I don’t think that’s insanely low. Almost new used cars can be a giant pain to sell. The reality is unless it’s a substantial discount at the more than 40k sticker most people will just buy new. Selling a barely used car is always hard. Because if I’m gonna pay you 40k~43k that you probably want I’d add a few $$$ and order a new one.

Great point! Back in 2009 when I got my 370z I bought it as a certified preowned. It had 400 miles on it and the original owner decided he didnt want the "hassle" of a manual transmission and traded it in 1 month after owning it for an automatic. I ended up getting it for 26.5k out the door with a 5 year bumper to bumper and 7 year 100k mile powertrain warranty. New it was about 30k before taxes, tags, fees etc with the standard 3 year warranty.

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