Would you sell now or later

[Mike8194]

I was happy with my 21 JLUW, but had been watching prices on Carvana and Vroom. It finally hit high enough that I sold and ordered a MY22. I think this bubble will burst, but it is really about timing the algorithm with these online services.

Original sticker for my Jeep was $45,730. In Dec 2020, I paid $44,500 OTD (doc, tax, tag, etc). Vroom paid me $48,500 last month. I have checked a few times since, and it has only been around $42k-$43k. I am rebuying the same Jeep, just MY22, for $45k OTD from Gupton. New warranty, 0 miles, and made $3500 after its all said and done.

It is hard to know what the market will do, but I have a work car, so not having a Jeep wasn’t a huge hit. If you get the right number and can handle the wait, I say go for it!

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[Blanco802]

Agree on the prioritization from Jeep. Hopefully they secured enough chips to meet current demand and then have their rail and trailer logistics running efficiently to minimize delays. If I was a betting man, my guess is that prices peak around April-May. I think a lot of people are going to put those tax returns to good use buying slightly used vehicles.

 

[RedundanT]

I think there is HARD crash coming for used car prices. When is anyone's guess, the chip "shortage" is not going to last.

 

[cosine]

tbh. the resale value of the wranglers are and will be high regardless of whats going on in todays time. so i would hold on to the jlu and wait till the 22 comes in. then sell. the prices will hold regardless of the age and mileage.

 

[m3reno]

I would take the offer. Reason being I had a 2018 JLU with 50,000 miles and paid 36,000 for it new. Vroom offered me 34,000 for it in October, I waited to see if I could squeeze more. Then one day some idiot lightly tapped me on the back, barely leaving a mark but insisted on a police report. In doing so when I went to trade the jeep in , they offered me 27,500 because it showed up on carfax. I ended up selling it on Ebay for 32,000. So in the end it costed me 2000!! But could of been worse if I was forced to take the 27,500! My friend that works on wall street said to me one time that people eat, dogs eat but pigs get slaughtered!

 

[JABCAT]

I reached out to the dealership from whom we purchased my wife’s ‘20 Grand Cherokee and they offered us less than kbb trade-in value for our ‘16 JKU. I tried Carvana, Vroom, and Carmax who were all even lower than the dealer.
I then reached out to other dealerships in the area and only 1 got back to me and offered above kbb value, so that is with whom I placed my order for the ‘22.

If I wanted to sell privately, I’d have to do so for another $3k over what the dealer is offering in order to compensate for the sales tax break we’re getting by trading in. So we’ll just wait until our ‘22 arrives and trade in the ‘16.

 

[willcasp]

I reached out to the dealership from whom we purchased my wife’s ‘20 Grand Cherokee and they offered us less than kbb trade-in value for our ‘16 JKU. I tried Carvana, Vroom, and Carmax who were all even lower than the dealer.

This is expected. A dealer is going to offer you auction price for a vehicle. Sometimes called Wholesale. Black Book is a good resource for this, if you can get access to that number.

The dealer purchased the trade in at the current auction prices, and then offers it to consumers at Blue Book. Consumers think they are getting a great deal.

A dealer buying your trade in at Blue Book won't be in business very long.

 

[engineXI]

I cannot think of a reason to sell at only $2k above kbb. I just checked mine and they were about $20k below anything I would consider.

 

[JABCAT]

This is expected. A dealer is going to offer you auction price for a vehicle. Sometimes called Wholesale. Black Book is a good resource for this, if you can get access to that number.

The dealer purchased the trade in at the current auction prices, and then offers it to consumers at Blue Book. Consumers think they are getting a great deal.

A dealer buying your trade in at Blue Book won't be in business very long.

There are very few Wranglers on the lots around me currently, and similarly equipped & mileage vehicles are priced much higher than “blue book”. The point I was making was just that offers are all over the place right now. The dealer from whom I ordered offered me $5k more than the dealer from whom I purchased our ‘20 GC. Both dealers have been around a very long time. These are not normal times and many people are selling their used vehicles back to dealers for more than what they paid for them a year or two ago. The current offer on my ‘16 with 61k mi is only $6k less than I paid for it new nearly 6 years ago. That’s typically unheard of.

I was disappointed that the original dealer apparently didn’t want our repeat business on another vehicle because I was very happy with our purchase experience on the ‘20 (about $10k off sticker, no haggling, etc.). Honestly considering trading that one in as the current value with 30k mi on the vehicle more than we paid for it brand new a year ago.

The ‘22 will be my 35th vehicle in 29 years, so I’m well-versed in the buying/selling/trading in process. I give my business to those who are transparent and don’t jerk around with prices & other gimmicks.

Once the ‘22 enters the building phase, I’ll probably list my ‘16 for sale just to see if I get any offers enough above the dealer’s to cover the tax savings.

 

[BullMoose1776]

Three pages of opinions in front of mine. I didn't read em all, and here's my opinion:

Consider what you would have spent over the next several months waiting, on The Jeep, including payments, insurance, maintenance, etc, etc. And how soon that becomes $1,700+.

All that dough can be used for down payment, or jeep goodies, etc.

Additionally, consider that something may break, that (God forbid) you are in an accident and the value of the vehicle drops.
I am 100% for maximizing your profit, and I am also 100% for minimizing your loss.

Consider doing the math on a financial transaction such as this.

 

[Some Random Guy]

I think there is HARD crash coming for used car prices. When is anyone's guess, the chip "shortage" is not going to last.

I’m fearful of what’s going to happen when suddenly all sorts of people who bought used during the last 1-2 years go underwater on their loans upon market drop. It won’t be 2008 because we’re talking cars not houses, but I’m nervous none-the-less for the unintended consequences to the rest of us. The ripple effect of increased amounts of workers losing their transportation could be ugly in some regions.

 

[falcon241073]

https://givemethevin.com/

offered me the most for my 2021 JLU2 months ago when I checked for fun. They sent an automatedoffer based on the specs and pics I sent them. I declined and they asked why. I told them why I thought it was worth more and countered with a $4000 higher price.A day later, after a human reviewed my counter, they sent another offer for $400 less than my counter offer. I paid $49,000 for my JLUR in June. They offered me $56.600 in late October. Sticker was $52,200.

 

[four low]

Tea Leaves and Entrails might work for predicting the Future, because logic certainly will not.
The SubPrime Auto Lending Bubble is swollen to bursting, and when it does, look out below. Covid Omicron is barely out of the blocks, we hope it traded Virulence for transmisibility ,but "hope" is a thin thread.. This is the time to reduce debt, not count on " business as usual "
Selling for more, buying for less, always good as long as you actually get the " buying for less " part.

 

[Blanco802]

I generally agree with some caution that a lot of you have noted. While this thread was focused on used car prices, the truth is that almost everything is valued significantly higher these days. From stocks to bonds to real estate, commodities, etc. In focusing on just the used car market, we are not close to equilibrium for supply and demand. As supply constraints ease, we will see some of these extreme valuations revert, assuming the supply side will continue to operate normally. This will also mean the logistics of delivery will need to improve as well. This will take some time in my opinion. The variable is demand. If all of a sudden everyone stops buying cars, this can have a big impact on values, but it doesn't seem like we as a country are shutting down again, we are learning to live in a pandemic and so it's likely demand will stay firm or potentially increase in the near term?

 

[IdahoJOAT]

We had an offer from Vroom that was $52k, but the dealer offered us $50k, which is what we paid. We went with that versus messing with Vroom. But that was upon delivery.

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