We’re screwed! [ADMIN WARNING: NO POLITICS. MEMBERS BANNED]

[Sandevino]

I bought my ‘23 Rubicon in June and sold it in September (long story) and lost $6k when the dust settled. The truck is STILL ON THE DEALER’S LOT discounted nearly $7k from they paid me for it.

At 6.9% APR through Chrysler / Stellantis they can’t move squat. The incentivized APR should tell you they know a savvy buyer can negotiate the hell out of one and they hope to make the money back through financing.

Let them rot on the lot until late Q1 2024…

Sponsored

 

[JamesWyatt]

I bought my ‘23 Rubicon in June and sold it in September (long story) and lost $6k when the dust settled. The truck is STILL ON THE DEALER’S LOT discounted nearly $7k from they paid me for it.

At 6.9% APR through Chrysler / Stellantis they can’t move squat. The incentivized APR should tell you they know a savvy buyer can negotiate the hell out of one and they hope to make the money back through financing.

Let them rot on the lot until late Q1 2024…

They're going to have to release their tight little fists and offer 0% for 72 mos. PLUS 25% off MSRP unless they want to have these still on the lot this time next year. Just watch all the little half-measures they try over the next few months before finally giving in and pricing these things realistically.

 

[Zybane]

I bought my ‘23 Rubicon in June and sold it in September (long story) and lost $6k when the dust settled. The truck is STILL ON THE DEALER’S LOT discounted nearly $7k from they paid me for it.

At 6.9% APR through Chrysler / Stellantis they can’t move squat. The incentivized APR should tell you they know a savvy buyer can negotiate the hell out of one and they hope to make the money back through financing.

Let them rot on the lot until late Q1 2024…

My local JEEP dealer is HILARIOUS. They have a '22 392 JL with 10K miles that had an MSRP of $80K and are like "we just lowered this thing to move at $73K". I did everything I could to not bust out laughing.

Only $7K off MSRP on a 2 year old 392 with 10K miles with used car financing rates like the highest in 30 years. That thing is going to sit a loooooooong time. Dealers are stuck in 2022.

 

[ShadowsPapa]

I don't get the obsession with "value". And forget anything you spent on it, that's your problem, a choice. Usually doesn't make a vehicle worth more.
Value should only matter if you plan on trading or selling.
I don't give a rip what mine is worth now - doesn't matter to me. I have no plans until or unless there's a 4xe version that blows my mind and can do everything my current 2022 does as far as towing and payload and mpg. Otherwise, I'll keep this one.

Trade values online are a joke anyway - why does anyone bother with online numbers?
TALK to a dealer - face to face.
I paid under MSRP on my 2022 so I am ahead by at least a little bit should things change and I actually trade this one. But for now - I don't care if the "internet" says it's only worth 20K. Doesn't matter.

For some reason people seem to look at these as "investments" and figure hey, the value will never drop by much. Even owners of classics and antiques get screwed, you think those prices you see at the BJ auctions are great for the seller? Only for the auctioneer and those responsible for all of the work on the restoration. Eve those guys don't always come out ahead. And those aren't being made any more - these are.

Sorry but your 7K isn't going to matter, no one cares but you. You can't spend 60K, add 7K of stuff and then sit and say "now it's worth 67K". No, it's still worth 60K - actually less because now it has a title to an individual.
And you are going by internet - not talking to anyone. Do some real legwork, get out and talk to people. Those internet prices are seldom reality anyway.

I didn't do the math because I'm not ready to trade, but I got an email from my dealer making me a great offer on a 2023 with my 2022 as the trade-in vehicle. On paper, payments, looked great. But I didn't look any farther, as like I told my wife - what's a 2023 going to get me my 2022 doesn't have besides lower miles and spending weeks transferring parts over to a new one.

 

[MPMB]

We're not screwed. Dealers are screwed. COVID pricing (and shortages) f*d dealers. They had to buy high used car prices for inventory turn to make up for a lack in new vehicle allotments. Then certain vehicles had "premiums" and outrageous ADMs. Stupid buyers bought them.

Now that rates are ridiculously high, no one's buying. Dealers are going to have to cut prices to make it look attractive. Mfgs are making it look good with inflated MSRPs (Kohl's pricing - shirt for $65 elsewhere, $40 at Kohls; $20 on AMZN).

Dealers are f'd. They have to get money somewhere. Financing kickbacks is really the only option now. Scrape by the retail margins.

The buying public need to wait it out. Few buyers actually *need* a new or slightly used vehicle.

But ego and consumerism have eroded common sense.

I was able to dump my Expedition near the top of the used car bubble. And the trade in value was only about $500 less than what I paid for the trade-in for the Gladiator.

Paired with the low APR loan, there's little incentive anywhere to trade in and/or up.

 

[Zybane]

We're not screwed. Dealers are screwed. COVID pricing (and shortages) f*d dealers. They had to buy high used car prices for inventory turn to make up for a lack in new vehicle allotments. Then certain vehicles had "premiums" and outrageous ADMs. Stupid buyers bought them.

Now that rates are ridiculously high, no one's buying. Dealers are going to have to cut prices to make it look attractive. Mfgs are making it look good with inflated MSRPs (Kohl's pricing - shirt for $65 elsewhere, $40 at Kohls; $20 on AMZN).

Dealers are f'd. They have to get money somewhere. Financing kickbacks is really the only option now. Scrape by the retail margins.

The buying public need to wait it out. Few buyers actually *need* a new or slightly used vehicle.

But ego and consumerism have eroded common sense.

I was able to dump my Expedition near the top of the used car bubble. And the trade in value was only about $500 less than what I paid for the trade-in for the Gladiator.

Paired with the low APR loan, there's little incentive anywhere to trade in and/or up.

You're right, they are moving the profits from the sticker to the financing. My local Jeep dealer is offering 15% off on a new 2024 Grand Cherokee Summit Reserve L. When my girlfriend with a 660 credit score went in to buy it, they offered her 12% interest rate. Yes, 12%. Let's just say we walked. They keep calling us begging to buy it.

 

[Silverator]

They buy low and sell high. I was looking at a 4dr Wrangler a few years ago. They were asking only 4k less than the dealer wanted for a brand new one. That one had 40k miles on it and was maybe 3 years old.

Same. When we were shopping for a Gladiator in Feb 2023, the used Gladiators with 8-30k miles on them were only $4-5,000 less than a new 2022. Ended up buying new. $49k + all the crap added on.

 

[UM_Ftown]

This is really only a Jeep thing. The rest of the midsize truck market is priced appropriately for what you get, hence the no Gladiator sales.

 

[UM_Ftown]

Like there’s no way a Sport with basically a hard top and auto trans should be close to what a ZR2 costs.

 

[Sweetums]

Now I know why my 2022 JT with 8,000 miles that I bought in 2021 is worth practically nothing!! I paid $54K and dumped over $7K into it like a sucker! Now the most I can get towards a trade in is $33K. Something needs to change! Trucks full size or JT’s should NOT cost this much!

Yeah, that's how market forces, depreciation and trade ins work. You will never get market value in trade, I have no idea why you'd expect to.

 

[Dougstdig]

1. Why are you selling a ‘22 model?
2. The fed is looking at four corrections during 2024 as I said back into late 2021 when I bought mine I knew it had to be then or not at all because I wasn’t gonna put myself in a position to be gouged by inflationary rates.

 

[Dickster]

We got used to the low interest rate pretty quickly. They were never that low in history and most year average 4-9% if you look back. It was always known to lose 5-10% once you drove off the lot..... it's funny how most people can't remember past covid, seems the vaccine made people delusional.

 

[chorky]

Also, in the money you spend on mods never increases resale value......never have or will.

I will always disagree with this. IMO that is said from. Perspective of people who want things for free. I sold my 7.3 to account for ALL
the work and tens of thousands of dollars I put into it. Buyers were very happy to have a ready to go fully built truck in excellent condition.

 

[916WI]

I bought a 2023 diesel a month ago. Sticker was $74.3k(early '23 build--to build now would be just under $77k) and was able to get it for $63.4k+TTL. Could I have waited for another month or 3 to buy with deeper discounts? Absolutely. This problem with that line of thought is that the one I bought had every option I was looking for(firecracker red/adaptive cruise/cold weather w/katzkin leather/front camera). Buy once/cry once..........The trucks that are going to be left over in 2024, are going to be those that are picked and passed over by everyone else. It might be worth it to save another $5-10K for some, but I plan on keeping this thing for a long time, so it really wasn't worth it to make those compromises for me..........

 

[Stuntman Mike]

I find these price discussions somehow funny.

If I consider something is too expensive, I ain't buy it.

As far as I can remember, nobody forced me to buy my Gladiator ...

Sponsored