Prices collapsing on new (and used)

[BlackRuby23]

I found my new 2023 Rubicon on Autotrader a year ago this month. It was listed nearly 30% off. All said and done it was 26.5% off msrp if I recall. I had to pay a few hundred here and there in dealer annoyances but I considered it "fuck you, just give me the keys" money instead of walking out and perhaps going to another dealer and continuing my search. I badly NEEDED another vehicle at the time or I probably would have. All in all, the dealer experience was not too bad. I'd even consider using that dealer again.

It should be said that I went through a brief period of serious buyer's remorse because of the price and the uncertainty if it was really the vehicle I wanted. I knew that once I bought it I had to be committed, because I was going to take a bit of a bath on depreciation even with the good purchase price. I am happy to report that I LOVE this Jeep! The buyer's remorse is gone and I have put 15k miles on her in the first year.

Sitting here this morning I thought I'd pull up Autotrader and see what new Rubicons are priced at, and how the deals compare to a year ago. My criteria are exactly the same as last year. Brand new Rubicon, nationwide search. It's kind of shocking. Here's why: I see 2024 models brand new listed for as much as 38% off msrp, and many thousands less than I paid for my 2023. $63k and change msrp, asking price $39k and change. All I can say is WOW. There are better deals on 2024 models than there were on 2023 models a year ago. Happy shopping for those who are in the market. I bet you can get a swinging deal.

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[Labswine]

Yeah, I've read that Stellantis is really dropping prices because they weren't really selling at the 'premium' price Stellantis thought people would pay just for the privilege of having such a unique vehicle.

I ordered my Overland back in May of '19 (soon after the ordering lines opened) and with all said and done, it was $53K out the door (PA 6% sales tax). I now have just over 37K on the clock but, I also know if I ever traded it in, I'd be lucky to get about half or less for it because new ones are now less expensive than they were when they first came out. But, like you, I LOVE mine and will try to drive it until the wheels fall off.

I wonder if the same thing is happening on the Wrangler side as again, people aren't as willing to pay the premium price for a unique-ish style of vehicle and the nostalgia hearkening back to the original Willys.

 

[Freems]

You do know MSRP is a constant adjustment by the OEM to leverage stock on hand, and to drag it from year to year is a stretch at best.

 

[GeneralMaximus]

I was browsing my local dealer website and came across this discount. Has anyone else seen this before? I never have

Its Stellantis using Ford’s playbook, enticing Ford owners over to their side.

https://fordauthority.com/2024/10/stellantis-targets-ford-owners-with-new-conquest-incentive/

 

[Scott0700]

Thought I did great getting 20% off of a 24 Silverado. 38% is crazy.
Got 16% of on my 23 JT Rubicon last year. Probably could have waited and done better, but this one was optioned exactly how I wanted it. No regrets. love the JT.

 

[Janster]

I was browsing my local dealer website and came across this discount. Has anyone else seen this before? I never have

When I bought my 2024 back in March…. The dealership had a $2000 discount.
I don’t know what they called it. Every dealership had the same $2000 discount. They made you believe it was a ‘dealership‘ discount and not a Jeep discount.

I honestly believe they adjust the MSRP higher, then add all these ‘discounts’ to make it look like you‘re getting a better deal. Then, you throw in trade-in values (that are negotiable) and financial negotiations (cash, and/or bank loans/interest rates)…..

Supply & Demand….. Just like anything else you buy. You want Christmas decorations before Christmas? You’re gonna pay TOP dollar for them. But, you can get them 50% off after Christmas.

 

[Labswine]

I honestly believe they adjust the MSRP higher, then add all these ‘discounts’ to make it look like you‘re getting a better deal. Then, you throw in trade-in values (that are negotiable) and financial negotiations (cash, and/or bank loans/interest rates)…..

Yeah, the old ploy, mark up to mark down so you think you're getting a deal when in reality, you're not.

 

[trekkar]

I looked all over the states the last week of the year and was stuck around 23% off a mojave. After all there fees they add back in. I'll need to start looking again. I'll probably buy if I can get a 60k mojave for 40k with all the fees except tax. I'd really like to get a sport with the max tow package for 30k but it's so hard to find one with max tow. But now I just may wait until the 25s get the deals I'm liking that new 41 color.

 

[Hootbro]

Conquest rebates have been around for decades. Bought a then new 1988 Dodge Dakota and got $750 rebate for trading in a Chevy S10.

 

[Minty JL]

Shit there is a dealer local to me that already has a '25 Mojave X listed with $7k off sticker.

I should be paying off my '23 JTM this month, so whatever price wise for me. I keep my new vehicles at least 10 years. Shit I still have my 04 Colorado I bought new in 2004.

Interest rates and car payments are over rated....... especially with the way insurance rates keep going up.......with zero claims or moving violations. USAA has gone up 25% over the last two renewal cycles.

 

[avere3]

Yeah, I've read that Stellantis is really dropping prices because they weren't really selling at the 'premium' price Stellantis thought people would pay just for the privilege of having such a unique vehicle.

I ordered my Overland back in May of '19 (soon after the ordering lines opened) and with all said and done, it was $53K out the door (PA 6% sales tax). I now have just over 37K on the clock but, I also know if I ever traded it in, I'd be lucky to get about half or less for it because new ones are now less expensive than they were when they first came out. But, like you, I LOVE mine and will try to drive it until the wheels fall off.

I wonder if the same thing is happening on the Wrangler side as again, people aren't as willing to pay the premium price for a unique-ish style of vehicle and the nostalgia hearkening back to the original Willys.

In middle Tennessee, Gladiators are having big discounts, but Wranglers are not. I got my Gladiator Willys for just under $40k out the door after discounts and $5k for trade-in. You might find a Wrangler Sport for $36k before tax and fees, but a Willys is far more than the Gladiator.

 

[legacy_etu]

Yeah, I've read that Stellantis is really dropping prices because they weren't really selling at the 'premium' price Stellantis thought people would pay just for the privilege of having such a unique vehicle.

I ordered my Overland back in May of '19 (soon after the ordering lines opened) and with all said and done, it was $53K out the door (PA 6% sales tax). I now have just over 37K on the clock but, I also know if I ever traded it in, I'd be lucky to get about half or less for it because new ones are now less expensive than they were when they first came out. But, like you, I LOVE mine and will try to drive it until the wheels fall off.

I wonder if the same thing is happening on the Wrangler side as again, people aren't as willing to pay the premium price for a unique-ish style of vehicle and the nostalgia hearkening back to the original Willys.

I can tell you it's happening on the Grand Cherokee side also. I see $53K Grand Cherokee L Limiteds advertised for $39K. Not as great a markdown as on the Mojave's and Rubicons but still a great deal in the market it's competing in.

 

[WncMatt]

Not near the deal when you consider the lowest financing is nearly 6%

 

[Riverdog]

I dreamed of Jeep making another truck for decades. I even started a few projects to restore scramblers, a comanche, and almost tried to stuff a duramax in my M715 for street use. The Nukizer concept was PERFECT to me. But when the Gladiator finally came out , I was outraged at the prices. They were charging MORE for a jeep truck with a 6 banger than loaded full sized trucks. So in 2021 I bought a new GMC AT4 with a 6.2L for $56k loaded. With it's 420 hp and 9k towing capacity it just seemed like a lot more truck for my money. It wasn't until last year when the prices started tanking that I finally got a gladiator. I paid about $20k for a used 2020 sport with 55k miles. For the money, I love my truck. In fact I'm still watching the internet every day hoping to find a punkn' metallic or gator Mojave with a manual transmission for a decent price. But I don't think I'll be buying new ever again.

 

[Jrgunn5150]

As I've said before, many times, the dealers are screaming at the executive board for rebates, and getting them. I sit on this call every Monday at 9:30 lol.

They'll be ramping up all month and into February to where 30% will be the minimum.

Of course, this means you take what they have, not custom order your perfect combo.

Longer term, it will crater used prices. People who bought at peak Covid, going off grid, van life, MSRP plus dealer adjusted markup to be the first one to make Tik Toks with a 392 or whatever, are totally going to eat it.

Asking 45k on a 2 year old, 70k vehicle seems fair enough until you can buy a new one for that.

And there's a whole segment of population who started buying cars in 19-20, you think driving them for a year and selling for more than you owe is normal lol.

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