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

[AyeCantSeeYou]

Try autotrader. They have private and dealer sales.
https://www.autotrader.com/cars-for-sale/by-owner/jeep/essex-md?newSearch=true&zip=21221

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[foxwalkhq]

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!!!

 

[Mr._Bill]

Unless you are in the market to sell or trade real soon, watching the used vehicle value is a waste of time. All vehicles depreciate immensely once they are driven off the lot, one of the reasons there is a no-return policy. The last few years have been abnormal, and the market is correcting itself. Some vehicles will hold value better or longer than others, but they are all money pits. Unless you are into the world of classics, rarities, and restoration, they are not investments that you can recover value from. If you want guaranteed value, then lease the vehicle. You know from day one what the value will be at the end, where you can then compare to the current market and decide whether to keep it or turn it back.

 

[Jefe1018]

I knew coming into this that paying $52,000 for a Jeep, even if the MSRP was $58,040, was one of the worst financial decisions of my life.

That was August of 2021 and it is now May of 2024.

I owe around $34,000 and the truck is maybe worth that much whole sale. I knew that would happen coming in.

I don’t understand why there are like 6 open threads on why buying a new vehicle wasn’t a good financial investment.

Know what I’ve gained though? 28,000 miles of knowing I’m in the most capable midsize truck money can buy. I’ve towed boats, climbed rocks, hauled hay, sand, rocks, furniture. I’ve been as far east as Texas and as a far north as Boise. Not once did I wonder what I would get for a trade in.

 

[foxwalkhq]

I knew coming into this that paying $52,000 for a Jeep, even if the MSRP was $58,040, was one of the worst financial decisions of my life.

That was August of 2021 and it is now May of 2024.

I owe around $34,000 and the truck is maybe worth that much whole sale. I knew that would happen coming in.

I don’t understand why there are like 6 open threads on why buying a new vehicle wasn’t a good financial investment.

Because there's a difference between like it being 80% of the retail price a year later with very low mileage... and it being like 1/4th what you paid for it, a year later with very low mileage.

This is not a thread about "omg it's a bad financial decision"

This is a thread asking if that's real. The prices I mentioned.

And that it's absolutely insane because I actually did research for like 4 years before I bought my Gladiator.. I wanted one when they first came out.. and I absorbed nearly all content on YouTube for 4 years until I bought mine in 2023.

And through those 4 years entirely the resale value was predictable and stable. I knew what I SHOULD HAVE BEEN GETTING INTO.

In those 4 years I built hundreds of Jeep Gladiators and Wranglers on the Jeep build website. I looked at dozens upon dozens upon dozens of used Jeeps to see the prices of used Jeeps and I checked the used price on the ones I looked at to make sure they were a fair price.

This isn't someone going into the dealership with blindfold on not knowing what's going on. And I haven't seen the other threads but probably guessing those aren't either.

And I honestly think it's BS. Coz Carfax still shows higher prices and FB Marketplace shows higher prices (the actual market speaking not some company appaising). I haven't checked sold prices coz you can't do that and I don't think Ebay allows car sales anymore? Not sure.

 

[Mr._Bill]

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!!!

Vehicles do depreciate, a lot, and always have. They are overvalued at the time of sale. They are not like houses. They are money pits, not investments. The last few years have not been normal, and the market is correcting.

Some of the worst people to get involved with, in anything regarding money, are family and church members.

 

[foxwalkhq]

Vehicles do depreciate, a lot, and always have. They are overvalued at the time of sale. They are not like houses. They are money pits, not investments. The last few years have not been normal, and the market is correcting.

Some of the worst people to get involved with, in anything regarding money, are family and church members.

Read my last reply dude.

I'm not an idiot.

This is not depreciation, this is the equivelant of a stock market crash. I mean we're talking about A WEBSITE ..... just to be clear. A WEBSITE. saying that the top of the line Jeep vehicle is worth less than the base model now.

and like I said in my last post the market and Carfax doesn't seem to support what KBB is saying.

 

[Mr._Bill]

Read my last reply dude.

I'm not an idiot.

This is not depreciation, this is the equivelant of a stock market crash. I mean we're talking about A WEBSITE ..... just to be clear. A WEBSITE. saying that the top of the line Jeep vehicle is worth less than the base model now.

and like I said in my last post the market and Carfax doesn't seem to support what KBB is saying.

No one is calling you an idiot. The problem is your research covers the last four years, which have not been normal. The car market and car values go up and down, but always end up in the same place where the consumer is screwed. You find whatever advantages there are at the time of purchase, and take what you can get. You go into every new vehicle purchase knowing it is a bad decision and you are going to get the short end of the stick, one way or another.

 

[Jefe1018]

Because there's a difference between like it being 80% of the retail price a year later with very low mileage... and it being like 1/4th what you paid for it, a year later with very low mileage.

This is not a thread about "omg it's a bad financial decision"

This is a thread asking if that's real. The prices I mentioned.

And that it's absolutely insane because I actually did research for like 4 years before I bought my Gladiator.. I wanted one when they first came out.. and I absorbed nearly all content on YouTube for 4 years until I bought mine in 2023.

And through those 4 years entirely the resale value was predictable and stable. I knew what I SHOULD HAVE BEEN GETTING INTO.

In those 4 years I built hundreds of Jeep Gladiators and Wranglers on the Jeep build website. I looked at dozens upon dozens upon dozens of used Jeeps to see the prices of used Jeeps and I checked the used price on the ones I looked at to make sure they were a fair price.

This isn't someone going into the dealership with blindfold on not knowing what's going on. And I haven't seen the other threads but probably guessing those aren't either.

And I honestly think it's BS. Coz Carfax still shows higher prices and FB Marketplace shows higher prices (the actual market speaking not some company appaising). I haven't checked sold prices coz you can't do that and I don't think Ebay allows car sales anymore? Not sure.

Look at a site like CarGurus, filter your search to be more or less your truck by year, model and miles. Take the average asking price of vehicles listed for onelisted within 60 days and subtract 10%. That’s probably your trade in within a couple hundred bucks.

So what's the BS part, exactly? COVID? An automotive market that went full fledge buyer’s market to seller’s market overnight? Historically high interest rates? Jeep over producing 2023’s and then cutting MSRP by 20% to the point a client buying your used model would not make sense meaning dealers are selling used for even less than new?

My suspicion is that prices should stabilize once the new 23’s are all gone and it’s been a year or two since then.

Are you wanting to trade or sell? I know for me every time I get the trade in or trade up bug a good wheeling trip fixes that right up.

Enjoy the truck man, life is short.

 

[foxwalkhq]

No one is calling you an idiot. The problem is your research covers the last four years, which have not been normal. The car market and car values go up and down, but always end up in the same place where the consumer is screwed. You find whatever advantages there are at the time of purchase, and take what you can get. You go into every new vehicle purchase knowing it is a bad decision and you are going to get the short end of the stick, one way or another.

It's actually the last 6 years.. and I looked at all manner of years. 2012, 2014, 2016, 2018 .. Wranglers...

I was just trying to see the resale value. And then I didn't just look at Jeep. I looked at Toyota trucks, Ford trucks, Dodge Rams.

I say idiot... others maybe would say ignorant, naive .. whatever.. That other guy literally assumed that me and the other threads' authors just walked into the dealership having no clue of how things work when you buy a new vehicle and are now complaining that it's our fault ..

when I wasn't even complaining. I was asking a simple question, and between what several other people said and what I saw on Carfax i've deduced that either KBB is completely wrong OR the others just haven't caught up yet, and that in the not too distant future it's going to be really shitty.

But for the six years that I looked at many different year models.. coz I was like "maybe I can buy a used Jeep." but the market was such.. the used market. was such that for a few thousand more you can get a brand new one.

Like I think it was a 2018 JK Wrangler Rubicon that was like $36,000 when the Rubicon Gladiators started at $43k and could be had for $48k well equipped .. Remember those days? Boy how things have changed, but anyway, basically I could pay $36k for a 2-3 year old vehicle or pay $10k more for a brand new one.

It was like that with every single used Jeep no matter what year. The older you got the more it was "Why pay that much for eg. an 8 year old vehicle ....." to the point of "Yeah I'm not paying that much for an old car."

And of course the resale value of Jeep was only beat by Toyota.. If you wanted a Ford or Chevy.. you can buy used for a LOT cheaper.

 

[foxwalkhq]

Look at a site like CarGurus, filter your search to be more or less your truck by year, model and miles. Take the average asking price of vehicles listed for onelisted within 60 days and subtract 10%. That’s probably your trade in within a couple hundred bucks.

So what's the BS part, exactly? COVID? An automotive market that went full fledge buyer’s market to seller’s market overnight? Historically high interest rates? Jeep over producing 2023’s and then cutting MSRP by 20% to the point a client buying your used model would not make sense meaning dealers are selling used for even less than new?

My suspicion is that prices should stabilize once the new 23’s are all gone and it’s been a year or two since then.

Are you wanting to trade or sell? I know for me every time I get the trade in or trade up bug a good wheeling trip fixes that right up.

Enjoy the truck man, life is short.

In order.. I will check that out and see how it turns out..

The BS part is that KBB says my 2022 Gladiator with 11,000 miles is worth $22k-$30k.. When I say BS I mean it's wrong. Because what I've seen for sale on Carfax.com and in FB Marketplace doesn't add up.. There's a lot of JTR for $47k, $45k.. I saw a Wrangler for $35k it was an outlier.

That's was my original reason for posting was to find out is this real or just some BS.

I honestly have no reason to anything right now bc I'm underwater on the loan, but according to what I've seen on Carfax and FB MP not by much..

Honestly though what I saw on KBB has me wanting to sell it ASAP. I don't like the idea of the value dropping $25-$30k and then I'm underwater for $30k and forced to just take it up the a$$.

I don't want to get into it but I can't really enjoy the truck right now. Everything off-road related where I'm at is hours and hours away and I can't afford to pay anything but my bills atm because I got laid off of a job that was paying me a lot more money than I'm making now.

Between the car payment and Bidonomics I can't afford to drive it because of the gas. I just replaced both batteries in mine because they went bad.. I couldn't even afford to buy them in cash.. I had to use Affirm so I could pay it later and be able to take eBay packages to the post office, because eBay is helping me pay stuff.

 

[Camaroboi13]

One thing to note, a dealership (especially the same brand you are trying to trade in), will almost always go out of their way to give you more money on a trade in. They can afford to go higher because their chances of making more money on the back end through finance and warranties is much higher. KBB doesn’t look at cars or their potential buyers. They just look at numbers. KBB doesn’t make money on warranties or paint protection or dealer add ons. If one schmuck out there decides their 40k car is worth taking 22-30k for, then KBB did its job.

 

[Jefe1018]

In order.. I will check that out and see how it turns out..

The BS part is that KBB says my 2022 Gladiator with 11,000 miles is worth $22k-$30k.. When I say BS I mean it's wrong. Because what I've seen for sale on Carfax.com and in FB Marketplace doesn't add up.. There's a lot of JTR for $47k, $45k.. I saw a Wrangler for $35k it was an outlier.

That's was my original reason for posting was to find out is this real or just some BS.

I honestly have no reason to anything right now bc I'm underwater on the loan, but according to what I've seen on Carfax and FB MP not by much..

Honestly though what I saw on KBB has me wanting to sell it ASAP. I don't like the idea of the value dropping $25-$30k and then I'm underwater for $30k and forced to just take it up the a$$.

I don't want to get into it but I can't really enjoy the truck right now. Everything off-road related where I'm at is hours and hours away and I can't afford to pay anything but my bills atm because I got laid off of a job that was paying me a lot more money than I'm making now.

Between the car payment and Bidonomics I can't afford to drive it because of the gas. I just replaced both batteries in mine because they went bad.. I couldn't even afford to buy them in cash.. I had to use Affirm so I could pay it later and be able to take eBay packages to the post office, because eBay is helping me pay stuff.

I’m curious if you’re putting in your zip code too? If you’re that far removed from wheeling territory then maybe that is the reason why. Sounds like west Texas? I’m actually considering relocating back to those parts within a few years at which point I’d probably end up with a need for a real big boy truck and a horse trailer or two as there are virtually 0 trails and all land is pretty much private farm.

 

[foxwalkhq]

I’m curious if you’re putting in your zip code too? If you’re that far removed from wheeling territory then maybe that is the reason why. Sounds like west Texas? I’m actually considering relocating back to those parts within a few years at which point I’d probably end up with a need for a real big boy truck and a horse trailer or two as there are virtually 0 trails and all land is pretty much private farm.

Yeah I did put my zip code in.

Yeah it's like 2+ hours to do anything.. I really want to go camping in the beach in South Texas but it's like an 8 hour drive..

Besides gas costs I can't really take really long trips now because of work. My work while it's WFH they're super anal about me working from anywhere but home.

 

[Jefe1018]

Yeah I did put my zip code in.

Yeah it's like 2+ hours to do anything.. I really want to go camping in the beach in South Texas but it's like an 8 hour drive..

Besides gas costs I can't really take really long trips now because of work. My work while it's WFH they're super anal about me working from anywhere but home.

Sounds like making your home on Padre Island is the thing to do? If I still have the JT at that point maybe I can just make it a weekend thing to drive around pulling out the stuck people in the sand.

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