How much have you lost on your Jeep JT?

[PyrPatriot]

I have lost over $12k in value on my JT in the 7 months of driving it.

Sport Max Tow with lots of options: $46.5k MSRP, $43k sold (didn't want to negotiate harder, felt it was ok)

At 12k miles the pre-collission CarFax and KBB (which is what dealers here base their appraisals on for 90% of their decision) I was at around $38-40k

5k miles later at 17k and change miles, and one minor rear end that resulted in a new bumper and trailer hitch, I'm at $34k. That's right, $12k gone in pure enjoyment (ok, maybe $6 if I can get the at fault insurance company to pay diminished value from the collision but that's really hard to do when dealerships won't put it in writing what your vehicle was worth without the incident on the report).

Curious for those who traded in, what was the mileage, condition, add-ons (if any) and trade-in value. @WXman I recall you got a great trade-in on yours. Care to share?

I'm gonna drive this Jeep as much as I can, it's just too much fun to worry about trade-in value or God forbid HAVING to get rid of it. Lord willing, I'll have it for decades.

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[LoJac963]

I don't really understand why people (not you specifically) look at these types of things and compare sales prices to other members and beat themselves up over it. Of course you are going to lose money on buying a new vehicle, part of the game. Either keep it until paid off or until you can make headway on the loan to get some positive equity.

KBB says my trade in is $45.5 so close to $15k loss BEFORE my down payment and positive equity on my trade only puts me negative $3k if that matters. I could absolutely care less. I love driving my JTR every second I am in it. It is by far the best vehicle I have ever bought new hands down.

 

[PyrPatriot]

I don't really understand why people (not you specifically) look at these types of things and compare sales prices to other members and beat themselves up over it. Of course you are going to lose money on buying a new vehicle, part of the game. Either keep it until paid off or until you can make headway on the loan to get some positive equity.

KBB says my trade in is $45.5 so close to $15k loss BEFORE my down payment and positive equity on my trade only puts me negative $3k if that matters. I could absolutely care less. I love driving my JTR every second I am in it. It is by far the best vehicle I have ever bought new hands down.

I like knowing numbers for future considerations is all. No regrets on mine (I chose not to negotiate harder)

agreed on this being the best vehicle I have ever driven. Hence 17k miles in about 6 months

 

[Troybilt]

I am up to about 17K miles on mine. Thats 17K smiles in my book that puts me way ahead. I have invested in my happiness and it is paying off bigly.

 

[PyrPatriot]

And for what it is worth, used values for these are pretty high. Seeing used Sports with 20-40k miles go for about $40k without a bunch of add-ons. Can get one new for that!

 

[LoJac963]

I got ya, again I was not directing that at you. I would never look up the information for myself being so early in my loan because I know it is negative. I did negotiate like crazy for mine and feel I still slightly overpaid but it was the vehicle I wanted so why not right!

 

[PyrPatriot]

I got ya, again I was not directing that at you. I would never look up the information for myself being so early in my loan because I know it is negative. I did negotiate like crazy for mine and feel I still slightly overpaid but it was the vehicle I wanted so why not right!

I needed an appraisal to back up my diminished value claim from the at fault party

 

[Sal]

I have lost over $12k in value on my JT in the 7 months of driving it.

Sport Max Tow with lots of options: $46.5k MSRP, $43k sold (didn't want to negotiate harder, felt it was ok)

At 12k miles the pre-collission CarFax and KBB (which is what dealers here base their appraisals on for 90% of their decision) I was at around $38-40k

5k miles later at 17k and change miles, and one minor rear end that resulted in a new bumper and trailer hitch, I'm at $34k. That's right, $12k gone in pure enjoyment (ok, maybe $6 if I can get the at fault insurance company to pay diminished value from the collision but that's really hard to do when dealerships won't put it in writing what your vehicle was worth without the incident on the report).

Curious for those who traded in, what was the mileage, condition, add-ons (if any) and trade-in value. @WXman I recall you got a great trade-in on yours. Care to share?

I'm gonna drive this Jeep as much as I can, it's just too much fun to worry about trade-in value or God forbid HAVING to get rid of it. Lord willing, I'll have it for decades.

There’s no dealer that uses KBB for pricing. They may use it as a tool to get you to think you’re getting a good deal on the trade in. Every dealer uses a famous black book which is based on auction sales.

and when you bought your vehicle you paid retail for it. No matter how “good” of a deal it’s still retail.

By buy any car off a dealer you are already losing Atleast 4K from wholesale pricing

 

[HWKIGRL]

I don't know about my JT since it's only two weeks old tomorrow and I can't even imagine selling it right now, BUT when you have a car it's like a trip to the casino, the DEALER always wins, except with cars it's the dealer and the insurance company, holding the winning hands. I purchased a 2017 Jeep Grand Cherokee Trailhawk in September 2017 with every option except the larger engine and pano sun roof, mine had the moonroof. I paid $15000 less than MSRP, it was NOT the color of my dreams but it was a really beautiful color, I fell in love with the GC after driving it only a few weeks. It was incredibly comfortable and super capable, we drive up into the mountains in winter to take my son snowboarding, windy roads going from warm to freezing in the same drive, never an issue and it took it like a beast. We go shooting or fishing on back road trails in the hills and the desert, never an issue. I'm a great negotiator, do my research, wait until the time is right and go in with some flexibility on what I must have and what I'm willing to dicker about. All of that meant I was OK when we were hit TWICE by the same person, totaling my vehicle. Amazingly my car was worth what I bought it for the day it was totaled, that said you never really come out ahead, had it not been totaled I would have paid it off had an amazing car and bought a new truck like I planned, now I have a car payment and still need a second new vehicle. Very few cars are investments, but Jeeps certainly hold their value and how well my GC took the accident, I'm a fan for life!

 

[Renegade]

I haven’t lost a penny yet on mine. I’ve found every one I’ve dropped...

 

[eaglerugby04]

Don't worry about the value. Cars always take the worst hit in the first year or two, but then Jeeps hold in my opinion too high of a value after that. Its just what happens drive it off the lot and it drops. Makes perfect sense though because they need somebody to buy it, and most people won't buy a used car for 2k less it has to be a lot more. Then factor in the interest rates and getting people to buy a slightly used car is even harder.

I ran into a situation where I really didn't need one of my cars anymore 6 months after I bought it. Did some speculative pricing and realized if I sold it that day, or one year and 12k miles higher it had the exact same value, being 0% interest I kept it to see how it would go for a year. Ended up finding it useful since the childcare was always using my van. point is depreciate is a bitch those first two years.

Find somebody to get you the paperwork for the deminished value claim. The dealership that did the work should do it if you really put some pressure on them.

 

[PyrPatriot]

Don't worry about the value. Cars always take the worst hit in the first year or two, but then Jeeps hold in my opinion too high of a value after that. Its just what happens drive it off the lot and it drops. Makes perfect sense though because they need somebody to buy it, and most people won't buy a used car for 2k less it has to be a lot more. Then factor in the interest rates and getting people to buy a slightly used car is even harder.

I ran into a situation where I really didn't need one of my cars anymore 6 months after I bought it. Did some speculative pricing and realized if I sold it that day, or one year and 12k miles higher it had the exact same value, being 0% interest I kept it to see how it would go for a year. Ended up finding it useful since the childcare was always using my van. point is depreciate is a bitch those first two years.

Find somebody to get you the paperwork for the deminished value claim. The dealership that did the work should do it if you really put some pressure on them.

Since it was a rear end collission only the bumper and hitch were replaced, that is considered body work and dealership wouldnt do it. So far I just took the pre-collision car fax and kbb value reports at 10-12k miles for trade-in ($40k) and compared to the written offer for trade-in value at 17k miles ($34k) and will claim the difference. Insurance will fight me on the discrepancy in miles diminishing value, to which I will counter with various similarly equipped used models across the country STILL selling for around $40k, etc. if anything there is a local attorney specializing in diminished value claims that I can talk to (we have a mutual friend in common)

 

[ZTMAN]

When I was trading my JKU I got a quote from Carvana. Entered my info and got a quote right away. And it was a fair quote.

Entered my JT info in Carvana two days ago. Website says vehicle is still being "appraised."
Interesting that they cannot provide a price right away for a JT.

 

[Factoid]

It’s too early for this conversation, although the OP needs the data for a good reason. You need at least three years to start to get a sense of resale value and those of you who took a loan, you also have to then include your total payments added to the value. That number will make your head spin, so ignorance is often bliss.

 

[z0lt3c]

Here are recent wholesale auctions results for 2020 Gladiator Sport S. These are MMR price, which is the most common valuation used for insurance and trade-in. TLDR; a 2020 Sport S in perfect condition is worth about $35K right now. A 2020 Sport S in 3.0 condition (typical of an accident) is worth $33,500 so you are looking around $1820 in diminished value.

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