How much have you lost on your Jeep JT?

[eaglerugby04]

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)

That makes sense. Most won't do body work. In the past I have gotten lucky and one dealership under the same owner had a body shop so it helped to make sure I got the extra service and OEM parts.

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[Jeeperjamie]

Just over 6200 miles on mine and they offered me $36,000 for mine trade in Wednesday of last week, that's with $3000 worth of add ons that include, lift, tires, front bumper, winch and bed cover. On a side note my neighbor keeps offering $40,000 for it cash money, and he's serious. I'm all in at just over $39,000 on it. I'm not selling or trading it in though.

 

[P.Lo]

I bought my Overland at the end of October. I know i over paid compared to today's prices........ but I didn't want to wait 8 more months to get one. I wanted it then, and at that time, I got a good deal i feel like. I have enjoyed the $hit out of my Gladiator for the last 8 months, and I'm still tickled I bought it when I did.
Also, I have NEVER considered a car an investment.......unless its close to 7 figures, painted fire Red and has a prancing horse on the hood emblem........a car or truck is going to lose value....... and lose it fast!!!
Has my JT lost value?.......maybe according to some book it has lost money value, but for ME,
it gets more valuable on every wave, received and given!
Love my Jeep!!!

 

[Raven]

Depreciation is the whole reason I lease all my vehicles. When the JT first came out, the residuals were sky high which was great. Everyone thought they would hold their value like a wrangler but no one saw the corona virus coming to tank used car values.

My sport S max tow stickered at 45k, I leased it at a price of 39.9k and my buy out is 34k. I’ve been offered trade in value of 34k now and I still have 2.5 years on my lease. If I would have purchased the JT, I would have to suffer the next 2.5 years of depreciation, but thankfully I don’t.

 

[sirphenergan]

This is why I made sure to shop around for quite some time before choosing a dealership to order from. I paid just over 52k for my JTR and current KBB trade in is just over 46k. Based on the few thousand I put down, I suspect it would be about a wash if I traded in soon. MSRP was 60k. I’ve never taken a big hit on a Jeep before, I would go for diminished value after the accident.

 

[JeepFam]

They used to say figure about a 30% loss the moment you drive it off the lot. I don't know how accurate that was / is, but I think in principle it's true - the decline in value is steep in the first months / years. Think of it this way - if you went to buy a used one with say 17k miles on it and they were asking $40K, would to buy it? Mostly like, for the price difference, you would buy a new model. As a buyer, the only way you're going to buy used is if the price is significantly less than new, even if it is in showroom condition.

If you can't stomach the rapid depreciation of a new vehicle, it is best to buy 1-2 year old low-mileage used vehicles. That was my plan when the Gladiator was introduced, but I couldn't control myself.

By the way, leasing is no better. If you lease, all you ever pay for is the rapid depreciation. Sure the payment may be somewhat lower, but what you're really paying for is the depreciation during the 2-4 years you use the vehicle. There is no equity, and no long-term use to average down the cost. To me, the only compelling reason to lease is to avoid the inevitable costs of all these danged electronic gadgets eventually going bad.

 

[PyrPatriot]

They used to say figure about a 30% loss the moment you drive it off the lot. I don't know how accurate that was / is, but I think in principle it's true - the decline in value is steep in the first months / years. Think of it this way - if you went to buy a used one with say 17k miles on it and they were asking $40K, would to buy it? Mostly like, for the price difference, you would buy a new model. As a buyer, the only way you're going to buy used is if the price is significantly less than new, even if it is in showroom condition.

If you can't stomach the rapid depreciation of a new vehicle, it is best to buy 1-2 year old low-mileage used vehicles. That was my plan when the Gladiator was introduced, but I couldn't control myself.

Same. I had just started a new job out of school, baby due in 2 weeks, I needed the outlet. And boy do I have ZERO regrets (so far)

 

[Bob502000]

I like my Jeep.

 

[Chance_P]

Paid 46 a year ago. Kbb trade says 42. 44 private party.

 

[JkJT84]

I’ve only been in mine a month, I’m about 39k all in on a sport S max tow with leather addition rolled in to that price. When I looked used it was around there or more. I’ve bought and sold a lot of cars and yes you’ll lose on trade in cause a dealer has to make money but look at replacement value not trade in value. Just my 2 cents and like others this is my favorite car I’ve ever owned and I’ve had some really high end cars in my day. I’ll have this Jeep till it dies.

 

[DirkG]

Apologies for geeking out a moment, but as an Economics grad (ahem, years ago...ha), I can say "Cost" is a relative term.

The Utility Maximization Model states that consumers try to maximize their utility (measure of happiness) for every dollar consumed. In other words, when you're talking about "lost" dollars, you need to account for the aggregate happiness derived from that depreciation.

And the assumption is that if you're on this board, for the most part, you're happy with your vehicle choice. So in laymen terms, buying a Jeep Gladiator for $50,000 and having it depreciate $10,000 is more valuable (to you) than if you purchased a $40,000 Nissan Altima (example) and only "lost" $6000.

I echo many of the sentiments on this thread in saying that my Gladiator is second to none in ownership enjoyment. I can confidently say I derive more utility from this vehicle than any other vehicle before...especially considering my boys (10 and 4) chant "Gladiator, Gladiator!" when we walk into the garage to choose a vehicle to take out.

 

[TheITGuy]

Apologies for geeking out a moment, but as an Economics grad (ahem, years ago...ha), I can say "Cost" is a relative term.

The Utility Maximization Model states that consumers try to maximize their utility (measure of happiness) for every dollar consumed. In other words, when you're talking about "lost" dollars, you need to account for the aggregate happiness derived from that depreciation.

And the assumption is that if you're on this board, for the most part, you're happy with your vehicle choice. So in laymen terms, buying a Jeep Gladiator for $50,000 and having it depreciate $10,000 is more valuable (to you) than if you purchased a $40,000 Nissan Altima (example) and only "lost" $6000.

I echo many of the sentiments on this thread in saying that my Gladiator is second to none in ownership enjoyment. I can confidently say I derive more utility from this vehicle than any other vehicle before...especially considering my boys (10 and 4) chant "Gladiator, Gladiator!" when we walk into the garage to choose a vehicle to take out.

Put that way, my Ridgeline is costing me a lot of money...

 

[PyrPatriot]

And the assumption is that if you're on this board, for the most part, you're happy with your vehicle choice. So in laymen terms, buying a Jeep Gladiator for $50,000 and having it depreciate $10,000 is more valuable (to you) than if you purchased a $40,000 Nissan Altima (example) and only "lost" $6000.

I always look at things from having to sell due to financial hardship. Taking a $12k loss on a vehicle means seller is several thousands underwater on their trade/sale. I traded a Honda Civic for $6500 value in addition to some light negotiation, and so really I'm more than $12k behind on this vehicle. I enjoy every second of driving it, and just pray the economy gets better soon

 

[DirkG]

I always look at things from having to sell due to financial hardship. Taking a $12k loss on a vehicle means seller is several thousands underwater on their trade/sale.

Yep, I get it...and I would argue that you are deriving some negative utility for sweating Gladiator ownership (cost-wise) as opposed to lesser stress in owning a Civic.

In late 2008 my wife was laid off and we had to trade in our relatively new 2008 Acura TSX (lease)...I was lucky in that I got back $500 over what I owed simply because I got a great deal initially and sold to a different dealer. But none of it was a pleasant experience...

Hopefully nothing happens and you get to trek along in your Gladiator stress free

 

[Renegade]

I paid $45,500 for my Rubicon, with hard top, automatic transmission, and 8.4 radio. Here are my KBB estimated values, which I don’t consider bad at all for the first year of depreciation.

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