Did the value of Gladiators just fall through the floor ???!

[Wheelin98TJ]

The best tool for market value is Manheim MMR, but unfortunately it's for dealers only.

MMR for a 2022 Gladiator Rubicon with 11k miles is $40,900. That's the average wholesale price dealers are paying for them.

A white one with 10k miles just sold in Houston on 5/16 for $41,400.

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[Crazy Wes]

Market for used vehicles is resetting itself. The market for new vehicles is resetting itself.

Inflation tends to affect nonessential items in the opposite direction.

But Jeeps/ Gladiators are essential!

 

[emprex25231]

I just checked the value of my Gladiator by VIN on KBB.com and it said $22,000-$30,000 for private party?????????????????!!!!

Is KBB smoking some powerful mind altering drugs or is this true????

Sounds completely insane..

Just last month I had it appraised for $35k at one dealership and $40k at another for trade in.

I bought mine in February this year. I got a 2022 Jeep gladiator sport with manual transmission and 13000 miles for $35,500 out the door. Its still around that price. I been watching the prices for a while now and definitely seen a drop in value especially with a manual transmission compared to last year.

 

[Stan H]

I swear you can't listen to dealers even if they're family..

My cousin works at a Jeep dealership and when I asked him he said "Yeah they depreciated, it's not like a house.." I'm like not by that much!!!

Go elsewhere its like a Doctor ..get a 2nd or 3rd opinion.

 

[Stan H]

I was once in that revolving door of own this for 3 or 4 yrs. Then new vehicle etc...etc...
I decided with this one I was going to drive it for the rest of my life. Need engine.. rebuild.. new transmission..rebuild or Used .. you literally can buy any part for these Jeeps and can upgrade and nearly find everything else in the aftermarket world . So I don't care if they tell me it's worth 2 bucks . I aint selling and never will the revolving door of never ending vehicle payments got old after 25yrs. This is my last one. If my Grandfather could keep an old Jeep Eagle alive for over 20yrs. I know I can do alot longer on this one. Too many parts out there.

 

[foxwalkhq]

Sounds like you did the wrong research for those 6 years...

I bought mine in March 2020, after researching for 6 months. I knew exactly which model, what options, and even down to what color... and why I wanted all that. So after 2 months into the china virus lockdowns, we saw dealers wanted to deal, banks wanted to lend, so we bought. $12k off sticker price, and 3.5% interest...

I'm not really one to use this phrase, like ever, but it's very applicable here: Must be nice to have excellent credit to be able to get such a low interest rate.

Also with Jeep it was absolutely impossible to get exactly what I wanted because they don't offer it. That's why I build probably like 300 Jeeps in the past 4 years. Trying to find the exact one I wanted.. Trying the next year to see if they maybe added more, but they never did. They just increased the price.

The best tool for market value is Manheim MMR, but unfortunately it's for dealers only.

MMR for a 2022 Gladiator Rubicon with 11k miles is $40,900. That's the average wholesale price dealers are paying for them.

A white one with 10k miles just sold in Houston on 5/16 for $41,400.

That's why I'm going to sell private. I'm not trading it in. I have another vehicle I'm going to sell this, and use the money I save from the monthly payment to pay debt down to < 30% utilization.

Go elsewhere its like a Doctor ..get a 2nd or 3rd opinion.

I know right. Dealers only know what they're told. I've been doing research on Toyota trucks for maybe a week, and I already know way more than the guy I talked to at the Toyota dealership.

I was once in that revolving door of own this for 3 or 4 yrs. Then new vehicle etc...etc...
I decided with this one I was going to drive it for the rest of my life. Need engine.. rebuild.. new transmission..rebuild or Used .. you literally can buy any part for these Jeeps and can upgrade and nearly find everything else in the aftermarket world . So I don't care if they tell me it's worth 2 bucks . I aint selling and never will the revolving door of never ending vehicle payments got old after 25yrs. This is my last one. If my Grandfather could keep an old Jeep Eagle alive for over 20yrs. I know I can do alot longer on this one. Too many parts out there.

I think the reason that revolving door exists is because people don't get the vehicle they truly want. I was lucky to get a sales rep that let me freely look at anything I wanted, let me test drive anything I wanted to test drive.

I've had sales reps that get mad and accuse me of being a joyrider. Super pushy and try to push something on you same day.

But I honestly don't think that I can deal with the gas mileage thing, and I thought maybe about a Diesel but they got rid of them without replacing them with something else, like the inline 6 they talked about but never came out with.. 4xe took forever to come out on the Gladiator.

I struggled like hell to get what I want out of Jeep but they make it next to impossible, and I just can't live with a Jeep right now. The way I see it every year everything is going up by $5000-$10000 and what you get is exactly the same.

And the Diesel is well.. I don't want to roll the dice on the stupid DEF system breaking and then have to wait months for replacement parts.

But honestly that's exactly what I want, and that's what I'm going to do now. I'm going to handle my credit so I can get a much much better deal.

And I'm going to make sure that what I get is exactly what I want, with no issues. Something I'll keep forever.

Coz this financing stuff is bullshit. It's basically a scam "Oh buy a car so you can never get rid of it" unless you can afford a payment like $2500 on a short term loan.

And the other thing is too that if I get a 72 month loan. I'm not waiting 72 months to pay it off. I plan to escape the situation I'm in right now and have a lot more going on and then I will pay it off faster.

The 72 months just gets the lowest monthly payment. So I pay the lower payment for the first two years until I get my business going and money coming in regularly.. Then I start paying more to pay it off sooner.

And people talk about the math of the interest of the long term loans.. That's irrelevant. The only math that matters is money being added to my bank account.

Yeah buying a Jeep is not the best financial decision. The most economical thing to do is buy a Camry for $24k and done deal. High MPG, does the job. Done deal..

But I want to be able to go over landing and stuff. I want to be able to live my life.

 

[ShadowsPapa]

I struggled like hell to get what I want out of Jeep but they make it next to impossible, and I just can't live with a Jeep right now. The way I see it every year everything is going up by $5000-$10000 and what you get is exactly the same.

Yes, there's been inflation, but if I take the MSRP of my 2022 Overland and then add to it the extra stuff something like, say for kicks, a Mojave X has, and I end up with a price MORE than the Mojave X.
So while I keep chasing what I want and the price keeps flying upward, that higher price would get me a lot more than if I took my Overland and added all of the Mojave stuff to it.
It looks horrible - until you start adding up the costs of the differences.

Yeah buying a Jeep is not the best financial decision. The most economical thing to do is buy a Camry for $24k and done deal. High MPG, does the job. Done deal..

But I want to be able to go over landing and stuff. I want to be able to live my life.

I don't know if it's a generational difference, region of the country difference, or just how I was raised, or what - living within one's means often means - scrimping and doing without "wants" in order to take care of true needs.
I WANT a lot of stuff - I'd love to be able to "live my life" as I imagine or fantasize about it - but there's reality and that's just how it is.
A guy I consider a friend here has a home and property that is beyond even my dreams - oh, man, to have that place. I think to myself - I want that sooo badly, but it's never to be and I have to realize that it ain't gonna happen.
And then there's others who look at the stuff I have and gee, they wish they had that or could do that..........
Car show yesterday, I saw several "dream cars" - things I really really really wish I could make happen, oh, I want that SO badly....... no way.
Then I go back to the cars I took to the show and guess what - people stop by and say "I really wish I had one of those" or "I wish I could afford to do that". And I am humbled once again - and thankful beyond words.
We could go back hundreds of years and say - this has always been around. Some end up with a better hunt while some come back with nothing to show for the efforts.

It took decades to get to where i am - and I'll never be where many others here are.
For a while I was literally on government assistance to pay heating, and the WIC free cheese program. My first wife and I made the bills, but that was it. The house was 100 years old, no AC, old furnace, much of it not even insulated.

So I guess when you look at where a person is now - you aren't seeing much of the picture at all.

- maybe you can't afford exactly what you want. You aren't alone.
My parents lived in a crappy 850 or so square foot house until their death. They raised 3 of us in that house.
Their very very first new vehicle ever was a 2010 Ford Ranger (not loaded, either)
5 years later, Mom died of cancer, and 3 years after that, a sleeping young driver killed Dad.
Mom enjoyed that new truck less than 4 years (her last years were cancer - no enjoying anything but breathing),
Dad drove that truck less than 8 years.
Damn! do i feel Lucky!
One new vehicle in their whole lives. First car I can remember was an old Plymouth from the 40s - front and rear windows sealed with window caulking to keep the rain out.
I went in to clean things out after Dad was killed - black mold in closets, leaky windows, rotting garage walls.............
Damn, do i feel lucky, blessed, even!

 

[Scott0700]

What I love is when you go to trade in and the dealer tells you “KBB trade in values are highly inflated”. Yet every used vehicle on the lot is priced way over KBB retail.

 

[ScottBeach]

Don't trade. Don't sell. Be the best dad/uncle/granddad ever. Gift it to someone young and buy another for yourself

 

[TheDerb]

Well, that is one of the unintended consequences of offering 15% off MSRP for months on end.

I got 26% off MSRP late last year: MSRP was $67,555; I paid $49,995.

Stellantis's stupidity is decimating customers' resales values.

... Complaining about saving thousands of dollars because when you are all done with it it won't get you as much back?

You either have more in the bank after you buy or more in the bank after you sell. Either way your net "money in the bank" stays the same.

 

[Hootbro]

Don't trade. Don't sell. Be the best dad/uncle/granddad ever. Gift it to someone young and buy another for yourself

Are we even on the same thread?

OP is underwater and laid off unemployed. How would that benefit him gifting it to somebody?

 

[TheDerb]

I bought mine in February this year. I got a 2022 Jeep gladiator sport with manual transmission and 13000 miles for $35,500 out the door. Its still around that price. I been watching the prices for a while now and definitely seen a drop in value especially with a manual transmission compared to last year.

I got $39k for my base manual sport with 7k miles when I traded it in to Gupton for a '23 Rubicon in April of last year. Sale price on the Rubicon was $49,999.

This is the truck I traded in. Still there. They can't sell it for $35k.

https://www.garyforcehonda.com/inve...ator-sport-4wd-4d-crew-cab-1c6hjtag8nl125483/
And, they upgraded the wheels and tires on it to Fuels on 35s. The original tires and wheels were the stock steel wheels.

 

[PW45]

never mind

 

[TheDerb]

I could easily afford both payments and still have thousands left over after paying all my bills. So please don't come at me with more "You did it wrong" "You made a horrible financial decision"

I don't think you made a bad financial decision. You certainly made an unlucky one, but that's bound to happen from time to time. I'm very sorry to read that you had a significant change in income. That is some really scary shit- and it absolutely sucks that trade in values are lower than you could have possibly thought.

The only thing I want to politely mention is that vehicles are commodities. They are bought and sold similar to stocks by wholesalers and dealerships. While I understand that you did a bunch of research, you are also researching pre-, during-, and post- pandemic prices, so, ultimately the only research that matters is the past 13 months as prices are correcting themselves.

But man, don't get mad at a vehicle for not holding its value. you mentioned its like finding out your house blew up, but it isn't. It's a vehicle. Vehicles are a depreciating asset, and we all take a bath on them sometimes.

The fact is that we all got used to trading in our vehicles for thousands and thousands of dollars higher than they were worth.

In April of '23, I traded in the linked truck for $4,000 more ($39,000) than I paid for it April of '22. And then I bought a JTR for $12,000 under MSRP at the same dealer. I KNEW that the next person to buy my old truck was going to be taken for a ride, but I was pretty happy at the time because my pocketbook benefitted.

https://www.garyforcehonda.com/inve...ator-sport-4wd-4d-crew-cab-1c6hjtag8nl125483/

It's probably not cool to forget that we were all super happy about it when the dealership wrote us the trade in check, but the truth is, that high trade in value is being paid for by our neighbors. We had a little financial blood on our hands if we ever traded in between 2021 and 2023.

But that isn't real. That was a pandemic. That changed every pricing model, and we just had 14 months of Gladiator Rubicons selling for under $50k out the door with $63,000 MSRPS. How do you possibly expect a market that has been flooded with $15,000 discounts to offer you 80% of what you paid for It when it was new for a used model?

 

[ShadowsPapa]

I don't think you made a bad financial decision. You certainly made an unlucky one, but that's bound to happen from time to time. I'm very sorry to read that you had a significant change in income. That is some really scary shit- and it absolutely sucks that trade in values are lower than you could have possibly thought.

That reminds me again of an example given us in some financial classes in school (yeah, back then it was a thing). The example is shoes, but it could be a car, truck, chair, carpet, light bulbs, whatever -
You go shopping for shoes. You shop several stores over the course of a Friday and Saturday (stores were closed on Sunday when I grew up).
You tried on several pairs, compared prices, found a pair you liked, fit well and you could afford - and bought them.
Monday those shoes go on sale in another store.
Did you make a bad decision?
No - you made the best possible decision based on the information available to you at that time after much searching. It was not a bad decision.

These days after seeing so much of what I see, I say no, you didn't -
unless your credit card was maxed out, your electric bill unpaid, and you really didn't NEED the shoes but bought them because they were cool looking and other other guys all have shoes like them and you just wanted them because you were tired of not having them.

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