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

[UM_Ftown]

There's always been a "Jeep" premium over the past decade that I've noticed. My buddy bought a used '18 JLU before C19 in the upper $30s. Had another buddy get a year-end closeout new JLU for under $30k.

Tacomas have gone up in price; the new '24 Tacoma 4-cyl TRD Off-Road is $46k. We looked at Tacomas before the Gladiator and they were about $10k less on average. We were quoted $42k + $2500 ADM for a TRD Off-Road with all the major options (not the dealer-installed ones like mudflaps or chrome lugnuts). They wouldn't budge on the ADM, so we walked. We spent about $10k more for the Gladiator and got a bunch more options and features.

So yeah, there will be those extreme listings where dealers think some sucker will buy it at "this" price. If nothing else, they'll discount it $10k and still make money on it.

I think that’s the problem though. Wrangler people will complain about pricing but then buy them anyways because there’s no competition and it’s similar to a cult.

Jeep saw that and figured the Gladiator customer would do the same but I feel like a customer in the midsize truck market is different than the Wrangler market, and there’s plenty of nice competition in the midsize market. Once most of the people who needed to have a Jeep truck got theirs, you’re left with people who would cross shop and didn’t see removable doors and solid front axle as a $10k+ selling point.

Even with Tacoma prices increasing, ADM won’t last forever. Local dealer wouldn’t budge much on a Gladiator so I ordered a ZR2 and with my discount it’s only around $47k. Equivalent Mojave msrp would be in the mid $60k’s.

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[upnover]

maybe you are screwed but I am not.

 

[chorky]

Don't look now boys and girls, but the housing market is doing the same thing. It too, will make one of the largest corrections in our lifetimes in the coming 12-24 months. Those folks who took the equity out of their homes when home prices were seriously inflated (and put in pools, took vacations etc) are screwed to the wall now. The car market is just more visible to most of us here.

This is true for many but not all. A lot of people made decisions thinking they would come out on top, and a lot of people did - being of the greedy mindset. But there are also a lot who live within their means who will be just fine. That's what I did when buying my house. Purposefully choosing more of a fixer because it was a lower cost and I wanted a surplus each month for fun things weather that be rebuilding the house, Jeep, or going on trips.

months ago. And 12-24 months before that. ?

I'm still waiting for this crippling recession you guys have been talking about since 2020. I took all the equity out of my houses at 2.75% and I'm ready to buy up

I thought about doing something like that too. My house was twice the cost of what it was listed at 5 years ago with the lot next to it. 1 year after I purchased it and fixed some things up it appraised for double what I bought it for. But even with low interest rates, the monthly cost was way more than I wanted. Gotta live within your means.

One reason prices keep going up is people keep buying. I mean think about it. A company will always want to make more for their shareholders and themselves. But as soon as people collectively stop buying, prices will tank. We just haven't hit that point yet with most things.

 

[Willpower1]

The newTacoma can be optioned to over 65K

 

[redriderjf87]

Nobody is forcing you to make poor financial decisions except yourself.

You're falling for all the gimmicks.

 

[SoK66]

Dealers are desperate to get the '23s off their lots, there's no way they'll take them in trade for anything like book value. The heavy discounting has gutted used Gladiator values. It's good for us that want them, but lomng term we'll not be happy with residual values.

 

[Badunit]

I bought mine in June and thought the discounts were pretty good then. It is disconcerting to see the discounts getting larger and the prices going lower and lower. It does make you feel like you overpaid, just like all those people did on houses right before the housing bubble burst in 2008. Regardless, I did not buy it as an investment and I have no intention of selling it anytime soon. It is still brand new. Ten years from now I'll likely be saying "why would I want to sell my Gladiator, I've only had it ten years".

 

[jac04]

...and there’s plenty of nice competition in the midsize market.

Indeed. I really enjoy my Mojave, but I'd enjoy it a whole lot more with another 100 HP. Once they actually start building the 2024 Ranger Raptor, I may just have to get one.

 

[Richord]

Here's what I discovered from 3 different manufacturers about what contributes to higher vehicle prices. The cost of research and development of electric vehicles.

OK, I think electric vehicles are novel and entertaining, but I don't think they are ready for "prime time". Tesla hyped their cars and now the other manufacturers are playing catch up.

I enjoy my Gladiator but would not spend anywhere near $70K for one now. My 2021 Rubicon cost me $55,000 in July of 2021. $70 to $75K I can't even rationalize even adding in some crazy!

 

[JeepCode4]

Bought mine in September 2022. Had significant deals then and was able to negotiate down.

I just traded it for a 392 wrangler, and luckily i didn’t lose much that a write off can’t resolve. But with 11k miles fully loaded with some extras, it’s resale is in the low 40s. Sticker when I bought it was 65, I paid in the 50s.

Folks just need to know what they are buying. I knew the resale was shit compared to the wrangler when I bought it, but was able to mitigate that a bit.

Great product but the discounts are killing everyone with it, and that’s jumping up the amount of used ones on the market

 

[Teqsand]

Someone has to subsidize the EV market that the blue man group has mandated private business make....

 

[KevinC]

I find it ironic when a post like this shows up all the people responding saying they are keeping their JT for a long time. So in essence, they don't care what is happening in the current market. Then a few months later these same people are either posting saying "good bye", or trading in because they are having mechanical problems.

We are buying a disposable product, designed to be replaced every 3-4 years. Once a vehicle odometer hits the 85K mark, banks will hardly let you borrow money to buy. Dealers don't want them.

We are headed for a reset. We can't keep flooding the world economy with printed money much longer.

KevinC

 

[JamesWyatt]

Toyota gets it. Look at the pivot they did with the new Land Cruiser. Why would I want a loaded Grand Cherokee with its outdated styling once Land Cruiser production gets moving?

The rest of the market that keeps raising MSRP is about to get caught with their pants down.

 

[Jim C]

My sense is that the price we paid is irrelevant at the moment unless we are selling or trading. Who knows what the value will be this time next year or five or ten years down the road? We may be sitting on a classic model or Jeep’s version of the Ford Edsel.

 

[kennyglm]

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!

Any car or truck is the worst investment you can make. Enjoy what you have because most people cant afford one.

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