Gladiator valuation.... Looked at trading

[Redfour5]

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.

This (Nov 2023) is NOT a good time to trade one in or sell... Stellantis is desperate to get rid of new ones with like over 30,000 2023's on the lots or in transit. They have 15% off MSRP across most of the country and many dealers are matching it for up to 30% off MSRP cold out of the box. I have two LOW mileage one a 21 Rubicon with under 5K miles loaded another a 22 Overland with under 3K miles. I've gotten both of those (NON STELLANTIS) dealers to sharply lower their prices. The 21 Rubicon has a 76K MSRP on it. It lacks nothing. My main concern is that it has TOO many things on it as in all the safety stuff that can go bad... The dealer is down to 47K on it... The other 22 Overland (2700 miles) is the Gobi color beautiful with all the basics I need, cold weather package, trailer tow (not max) and Alpine radio package they have dropped from like 46K down to 42K. It's basically new. They will also give me quite a bit more on my trade... BUT, I will need to do quite a bit on it like aftermarket tires, bedliner (spray), maybe a few inch lift, LED lights etc, so I see at least a few K in after market accessories.

So, good luck on getting a good trade or private sale on one now to anyone paying attention to what is going on with new pricing. OH, I was told that Stellantis may even get MORE aggressive on incentives for the 23"s with low interest 72 month loans at like 3.9%. You can't even build a 24 yet online and 23's are still in the transit pipeline across the country...

The back story on both are owners who now say it seemed like a good idea at the time...but not quite luxurious enough...

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[FloridaMan655321]

It should be noted that prices have not gone up, but your currency has lost it's value.

Also, for those that say things like 'depreciation blablabla', did you put miles on your truck? Because if you would have purchased it, and parked it in your garage, you could sell it for very close to the same price as your purchased it for - possibly a little more (see above comment about currency). Just look at Bring a Trailer and Cars and Bids.

 

[salvino]

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.
[/QUOTE

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.

I’m curious as to why you wish to trade in your JT. You don’t say in your post. As you have discovered, not good timing.

 

[Wheelin98TJ]

Auction price is about $35k. I thought their $36k offer sounded low, but I guess it wasn’t terrible.

 

[Sandevino]

I've owned close to 25ish vehicles over my 50 years and have never lost more than a few grand when I traded or sold them. I usually sell / trade every 12 - 18 months but made an exception on Gladiators and have bought and sold three of them in a 12 month span. It started with a 2022 Sport, then a 2022 Overland Diesel then a 2023 gas Rubicon which lasted two months. I sold the Rubicon in September and got around $55k for it having paid $57k and picked up a 2023 Ram 1500 Big Horn fully loaded for $22k off sticker. If I had kept the Rubicon and tried to make the same deal today I'd take a $20k bath on it to mop up the discount the dealer is offering to move metal.

Timing was on my side along with the GM and sales manager I've bought a dozen or so from over the years.

 

[D57]

I guess I am in the minority in that I don’t worry about resale as I research what I want and then make a purchase on a low mileage used Jeep. I kept my first Jeep TJ for 7 years, my JKUR for 6 years, and now have a 2021 JTR that I plan on keeping for a very long time. Bought it in Feb with 1800 miles and loaded with everything I can think of except seat heaters. Once I start the mods, it is very hard to even think about trading it on another one. Last thing I want to do is go to a car dealership OR install another lift kit in my driveway. I love my Gladiator more today than the day I bought it. Jeeps are like a commodity to me…no reason to get a 2023 or 2024 and have to start over on one just to have one 2 years newer.

 

[21RG]

I've owned close to 25ish vehicles over my 50 years and have never lost more than a few grand when I traded or sold them. I usually sell / trade every 12 - 18 months but made an exception on Gladiators and have bought and sold three of them in a 12 month span. It started with a 2022 Sport, then a 2022 Overland Diesel then a 2023 gas Rubicon which lasted two months. I sold the Rubicon in September and got around $55k for it having paid $57k and picked up a 2023 Ram 1500 Big Horn fully loaded for $22k off sticker. If I had kept the Rubicon and tried to make the same deal today I'd take a $20k bath on it to mop up the discount the dealer is offering to move metal.

Timing was on my side along with the GM and sales manager I've bought a dozen or so from over the years.

What you are not accounting for are tax, title, processing fees and registration. The last couple of years, timing has worked for the customer. But that is flipping as the market has and continues to change. Manufacturers are dealing with multiple issues and having to adjust.

I guess I am in the minority in that I don’t worry about resale as I research what I want and then make a purchase on a low mileage used Jeep. I kept my first Jeep TJ for 7 years, my JKUR for 6 years, and now have a 2021 JTR that I plan on keeping for a very long time. Bought it in Feb with 1800 miles and loaded with everything I can think of except seat heaters. Once I start the mods, it is very hard to even think about trading it on another one. Last thing I want to do is go to a car dealership OR install another lift kit in my driveway. I love my Gladiator more today than the day I bought it. Jeeps are like a commodity to me…no reason to get a 2023 or 2024 and have to start over on one just to have one 2 years newer.

I don't think you are in the minority. The above poster has a different approach and it has worked for him. There are many reasons to change a vehicle. Some are strictly the cell phone approach, the latest and greatest and many are the requirement for the change- growing family, work requirements. Your approach is a financial approach combined with a strong appreciation for the vehicle you purchased.

This is not about the gladiator being good or bad, it doesn't fit my current needs. My needs changed over summer and I realize I am better off with a full size. I am taking a financial approach and with current pricing I am probably sticking with the gladiator and finding work-around to the gladiator.

Financially speaking, the car/truck market has always benefited the manufacturer or dealer. Even if you think you made out, the manufacturer has made much more than you and dealers make quite a bit more than you. Banks are at the top of money making venture.

 

[D57]

Totally agree…everyone has different circumstances, changing needs, etc. I’ll agree the dealer did pretty good on my transaction, but I feel I did as well. Buying a barely used one with all the options I wanted (leather, 8.4, aux, spray bed liner, matching hardtop, full tint, etc etc) saved me on mods later based on past experience with my JKUR and how long I keep vehicles. The MT Falken we’re cool for a minute, but I knew I was going for 37’s so sold those off and pocketed that cash.

My challenge was that my wife and girls hate Gladiators. I think they are an acquired taste I guess.

 

[it_trailblzr]

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.

^^^^^^Because this!!^^^^^^

 

[texanjeeper]

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

That's an oversimplification of what is really going on, but I can't go further without delving into politics. You are right though, until something is done, this is the new norm.

 

[GRAN1TE JT]

I’ve always been able to get around 2% interest on used car loans due to good credit but damn it’s crazy right now…
Just bought out my lease (2020 sport S) for around $33000. I couldn’t get lower than 7% interest. We also bought my wife a 2020 Grand Cherokee Limited X for around the same price a few weeks ago and the same thing. Payments are a bit high but hoping soon the interest rates come down a little and we can refinance because this is crazy! I can’t imagine people buying $50-60,000 vehicles. Their monthly payments must be through the roof! All we can do is pray now

 

[Redfour5]

Well, December and Jeep (Stellantis) is now getting selective on them for incentives. All depending upon the zip code where you live, but we have a 6% off MSRP for Rubicons, then 10% off on Overland's and High Altitudes, Mojaves and 15% off on Sport "based" editions... You still cannot order a 2024. I'm thinking that here in March or so, Stellantis will continue the 15% off on what's left of 2023's at that point and do a finance incentive IN ADDITION to the cash incentives.

I have a dealer within 500 miles who is matching the Stellantis 15% off so essentially 30% off MSRP. I have a 2018 Renegade I'd trade with about 8 K value so, with a couple K down, I can get into the very low 30K range on an almost 60K Willys pretty loaded and a payment around 450 a month with top tier credit...

From a value standpoint, 30% off MSRP takes care of a lot of the depreciation issue... I bought my Renegade in May 2019 it was a 2018 and FCA at the time really wanted to move them so I got over 30% off MSRP on that one AND low rates. The low rate ship has now sailed never to return would be my bet. The Renegade has been a great daily driver but it won't go to places I want to go here in MT and the 2500 (Hemi) trailer hauler might, but it is a beast and sucks for a daily driver.

So, I'm very close with a Willy's that checks almost all of my boxes... We will see. It is definitely an I "want" not an I "need." But with the way things are and even gladiators themselves being possibly eliminated here in a year or two, it may not get much better than this... ALL...THINGS...CONSIDERED...

 

[ArchEtech]

A little bit of a zombie thread……but applicable to my thoughts currently.

Wranglers and gladiators keep their resale value pretty well as compared to other similar vehicles. They are well over 50% of those original value after 5 years and from some sources between 60 and 70% of it. It’s obviously going to vary by your location, and your timing during a sale and trade in - things just flutists a lot.

Interest rates being high for new and used help used a bit since there aren’t many manf. That over 0% these days. For some people, used might be the only option even if they aren’t a good buy vs new because they sinole
Can’t afford another $10,000 at current rates.

The bubble is burst for people that overplayed in 21-22 for a used car, me being one of them. Lucky I didn’t way over pay…. Tesla is a whole other story, their used value has absurdly dropped 30% or more across the board in just the last 12 months. Even in the last 3 weeks, they took another huge dive. EV’s in general are just tanking. This week Tesla reduced all ne models by $2000 after reducing costs 2-3 times last year, then just announced the new performance model 3 for less of a starting prices and a full tax credit over the 2023 model on top of being a significant upgrade for 2024. 21-23 model 3 performance have just taken a nose dive. A 2023 M3P that was over $50k is now $35,000. 30-35% loss in less than a year for those that bought a 2023 late in 2023.

I had a 2020 M3P with onky 30knmiles on it and I saw it go from about $40k to 24k trade in, in 18 months. I was able to get into a New Jeep Gladiator Rubicn at $44k and manage $30k trade in. I still owned a little more than that, but that’s way better than $24k that I was seeing with other possible vehicles. That was 3 weeks ago, and the value has since plunged more and the dealer has my Tesla at less than what they offered me in trade for it on the lot, because of that hit these last couple weeks. I expect Tesla will plummet more by next week significantly. It’s like day trading the way the EV market goes up and down.

I wanted out of it, and something that was fun (manual) and would be more appropriate for fishing (pickup). I also like Jeep Gladiators so it worked out. The dealer incentives on the few remaining 2022-2023 made them aggresive to make a deal. The dealer still made their money I’m sure, and I’m fine with that. I lost $4000 being upside down but at least not $10,000 or worse and the dealer incentives helped with that and then some at $44k on a $60k MSRP gladiator Rubicon. So at least I’m not as sore as I would be this week reading the news and being $15,000 upside down on my 2020 Tesla.

i was able to get 5.9% interest since my credit is great, and I still think that’s high so will probably refinance as soon as I can. I was paying I think 3.9% on the Tesla. I can even imagine what people are going through right now that paid the same or more than new on a used Tesla because of supply and demand, and have had 8-12% interest over the last 2-3 years. The amount you’d be upside down is sickening. $70k+ or so for a model Y in 2022 and now it’s worth $40k if you’re lucky and you still owe $60k or more because of paying so little on the profile at high rates and paying the interest first. Compound that will new vehicles being discounted, EV rental fleet influx into the used market, and people getting vehicles repos since they can afford their payments buying so high, and you have a downward spiral.

I’m pretty safe in a Jeep that I didn’t overpay for. Likely in 2-3 years my Ribicon will still be worth $30k at least with low miles (I’m a 5000-6000 a year guy). Having paid $48,000 for the new Ribicin out the door with trade, tile etc etc $2000 down I shouldn’t be in the hole and am having a blast so far rowing gears with the top off.

Had I paid $65k out the door for a new Rubicon on the deal, I would feel nearly a good about it. Maybe I’m just rationalizing my purchase! I don’t know but I do know I would be way worse off had I waited another 3 weeks - Yikes.

 

[D57]

I am not in the market, but I am watching a group of 20 or so Rubicon JT, JL, and JLU vehicles I saved in my cars.com app. For a second, I was really looking at the Anvil JT and also for fun the JL and JLU ones in Anvil and Earl. Price on those have not really budged in about a month. I’m kind of shocked. There’s a couple that are $5-7K below MSRP, but mostly they are staying firm. The one vehicle that isn’t Anvil I’m watching is a JTR 24 in Sarge with a 72K MSRP. It’s listed at 58,500.

It’s crazy expensive but also cool to see some of the options on the JL and JLU’s. 4.56 and 4.88 gears, factory lifts with 315’s, warn winch packages, etc. $65K for a JLR is just crazy. $68-72 for a JLUR. I showed the $65K Anvil JL to my son who I bought a 2015 Anvil JK sport 18 mo ago and instead of the “oh that’s awesome”, he said “looks exactly like my Jeep”. Which is true, and his is worth $15-$16K probably at 140K miles. But 3” lift and 35’s on my old JTR wheels looks pretty good, and visually not much difference than the 2024 at $50K more.

 

[jfisher99]

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.

Jeeps, specifically Wranglers and Glads, historically have had one of the best resale values out there. They're on par with Tundras and Taco's especially the lower trims.

Having said that I just bought my 22 JT Willys with 9800 miles for 35,500 plus TTL and it's CPO. Doesn't have adaptive cruise control, but does have cold weather, LED lighting and 8.4" premium audio.

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