Gladiator valuation.... Looked at trading

[21RG]

I am/was thinking of trading in the 21 Gladiator Rubicon with 45,xxx miles. Some unfortunate realizations...
- Received an initial offer of $33,000, they increased to $36,000. Fully maintained, no issues or heavy use, just higher milage.
- Learned all Wranglers shipped to dealers will be 4XE. The only way to get a 100% gas 2024 Wrangler is to order one.
- No new gladiators as of yet.
- Seems all manufactures are going with heavy discounts. Gladiators are heavily discounted.
- Dealers that bought used trucks say this summer are feeling the pain of the heavy discounts. They didn't budge on a used 2021 truck that I was interested in, a new 2023 after discounts was only $3,500 more...
- Cheaper and easier to buy new. 2023 truck that I was interested in was discounted $18k after all said and done.
- Buying power is significantly reduced due to high interest rates. Dealers are starting to feel the crunch.

Did I trade, no. Why? I do not want to go into a high interest loan when the prices of a used vehicle has dropped significantly. New vehicles prices do not match the crushing financial system we are currently under.

Overall thoughts.... The UAW strike and the deals they received will increase vehicle prices, with high interest rates how will people be able to purchase a new vehicle? Manufactures raised prices, recent events increased prices and people still buy the vehicles. I am not following how this is all going to work out.

Sponsored

 

[Mojave Nunzio]

I'm going to drive my Mojave until the wheels fall off lol, This doesn't look like this will get back to normal or what we thought was normal anytime soon unfortunately.

 

[NewGladdyOWNR]

High interest rates will be the new norm, just like gas prices. Why? Because they can get away with it.

 

[Rzrhawg]

I too have considered trading in my Gladiator for something a little more luxurious. I was looking into a 2021 Ram 1500 Longhorn but I talked myself out of it when I saw the interest rates. It’s just silly.

 

[Deleted member 57233]

High interest rates will be the new norm, just like gas prices. Why? Because they can get away with it.

These are still low interest rates, people just got spoiled with the pandemic rates and thought they would stay historically low forever.

 

[Deleted member 57233]

Overall thoughts.... The UAW strike and the deals they received will increase vehicle prices, with high interest rates how will people be able to purchase a new vehicle? Manufactures raised prices, recent events increased prices and people still buy the vehicles. I am not following how this is all going to work out.

Cash is king. A lot of us took advantage of the absurdly low rates during covid and have a lot of cash on hand at an interest rate that is a couple percent lower than most savings accounts these days.

 

[glovesf15]

High interest rates will be the new norm, just like gas prices. Why? Because they can get away with it.

There’s A LOT more to it than that. Of course, if I were to esplain it to you, I would get banned for politics.

 

[glovesf15]

I too have considered trading in my Gladiator for something a little more luxurious. I was looking into a 2021 Ram 1500 Longhorn but I talked myself out of it when I saw the interest rates. It’s just silly.

What’s worse is what a Gladiator is actually worth. I purchased my Rubicon in July, the MSRP was approx. $70K; trade-in is $42K. One of the worse decisions of my life. True, I didn’t pay MSRP……..not even close, but that depreciation is ridiculous. Can’t wait to get rid of this “Tonka-toy.”

 

[Dickster]

Jeeps have never retained value well. They will sit at $30-$40k for a while then $20k then $10k. Anyone buying a jeep to keep value invested into the wrong vehicle. 10 years ago it was normal to see 10-15% of any vehicle depreciate once it left the lot. The pandemic change all that and gave a false sense of value in vehicles. I would say we will go back to values dropping once it leave the lot, once the used market corrects itself. These incentives and discounts is the start.

 

[Stetson]

One of the biggest problems for Jeep resale value is the rebates/incentives on new ones. Dealers are knocking $8-12k off the price of new gladiators which means the used ones must come down as well.

depreciation used the be a thing, then it went away during the pandemic and now it is back….

Stetson

 

[Hootbro]

- Dealers that bought used trucks say this summer are feeling the pain of the heavy discounts. They didn't budge on a used 2021 truck that I was interested in, a new 2023 after discounts was only $3,500 more...

Seen this video earlier today that goes into pretty good detail why dealerships are in denial on not lowering used car pricing. It is a no win situation for sale managers as they are caught between dealership owner profit margin expectations and bank floor plan financing costs squeezing them from both sides. All is trending to used car pricing bubble bursting and the bottom falling out in the next 90 days or so as they cannot continue to be in denial of market realities.

 

[21RG]

What I found out is that high end or high dollar vehicles are not in demand. I talked with three dealers, 1 dodge, 1 chevy, and 1 ford. All three of them are moving mid-level vehicles, $40K price point.

The ford dealer has a 2023 F250 with Rocky Ridge modifications, I was not interested in the truck. The truck price was $91K after mods with a $67K factory sticker. Salesperson said I could get it easily for $71K and was eager to grab keys for me. They had two on the lot.

Prices were and are outrageous. Even with low interest rates I am not sure how this would be sustainable. I would like to get back into a full-size as I have a small business and have property that I maintain. I do not want a luxury vehicle, I need a work truck.

The other issue is the EV/hybrid effort. I have nothing against them. But, they don't sell near as many. 2024 Wranglers on the lot are hybrid with price tags above $60K and ICE-only Wranglers at $50k or below. Is this a marketing scheme where they think people will buy the high priced "luxury" item over the lower price point, less valued item?

I think the fellow in the video is correct. Hold on to your lower valued vehicle. People are realizing they cannot afford the higher price luxury vehicles anymore. There are many factors for this...

 

[Stetson]

These are strange times for sure. There seem to be two different outlooks for 2024. There is a doom and gloom outlook and a rosy sunshine outlook.

I just have been telling myself to be happy with what I have for the short term and see what happens.

Stetson

 

[High Alextude]

Wise words, Dwight.

 

[Richord]

I too looked to "trade up" from my 2021 Rubicon to a 2023 Mojave. The dealer "found" a 2023 Mojave that was well equipped. $65,875 MSRP for $48,215 with $37,500 trade on my 2021 Rubicon with 27,000 miles.

I said OK and they were supposed to draw up the paperwork. The following Monday the Mojave was "gone". Didn't bother getting into to the "WTF" discussion with them. I suspect they were getting this truck from another dealer, and they decided the margins weren't enough or someone was willing to pay more or was financing.

One thing I did discover through this process is that my Rubicon 4WD system is more suited to my particular driving conditions than the Mojave.

My Rubicon has the 4WD H Auto that I can engage in wet or snow conditions without thinking about disengaging it on dry pavement. It also has front and rear lockers which came in handy last year when getting stuck in 20 inches of snow on a dirt road up in the mountains.

The only feature missing on my Rubicon was heated seats! So, I added heated seat covers for $73. They work great and blend in nicely with the seats.

So far, I have had no problems with the Gladiator. In fact, this is the first vehicle I bought new that didn't have any problems in the first 2 years of ownership. Maybe it was built on a Wednesday

I am considering buying the extended warranty just to be safe. I had a 2007 Wrangler and it developed numerous annoying issues as it aged, mostly with poor grounding on the electrics. I was able to fix myself, but the Gladiator has a lot of electric and electronics.

Sponsored