Unreal depreciation

[Adamrx11]

FFS don’t buy a grand Cherokee new, you’re gonna lose another 40 grand … maybe 50.

I want to see how bad my depreciation comes back now

I'd get a used one, decent ones going for sub-$30k, especially if a V6.

Check out CarMax and KBB rates. The best offer I've gotten is from CarMax. Even with 3 damaged panels they will give me more than Carvana's quote for no damage.

The dealerships are a total scam. Even before mine got hit they wanted to give me freaking $35-38k, when it was still looking brand new. This was the worst financial f*ck-up I've ever done. These cars are worth $20k less than MSRP. Maybe others will have a better number on their trade-in but I got f*cked

Sponsored

 

[Q6543]

I just did a quick KBB and my 300a base 10spd GT (that was 43K) comes back at 36.5-38k

Maybe 5-6K loss after a year and a half and 5,000 miles…

maybe I pull the whipple and dump it… jkjk..

 

[Adamrx11]

I just did a quick KBB and my 300a base 10spd GT (that was 43K) comes back at 36.5-38k

Maybe 5-6K loss after a year and a half and 5,000 miles…

maybe I pull the whipple and dump it… jkjk..

I guess the more options you get the more you get screwed. That's been my experience anyway with this

 

[Alan Applegate]

There is one job I sure wouldn't want these days.... Car salesmen at a Chrysler dealership!

 

[Dxm]

A year and a half ago, there were no cars available, people had to wait for 6 months for a new one being built. There was also a UAW strike. But now the production has ramped up.

I remember it being so absurd that every dealership would only sell you cars at the sticker price. Now there are parking lots full of cars that nobody wants to buy. Ooops. Supply / demand. Shortage of cars? Prices get blown out of proportion.

 

[Germansheperd]

The depreciation is with a clean CarFax. The damage hasn't been reported yet. If I report it I might as well keep it. The $42k offer from CarMax is with a clean CarFax and just some panel damage. The difference between damage and no damage is only a grand or two difference what they'll give me. So if I wait until spring will the offer go up or is it better to cut my losses now and sell it to them as is? I wanted at least $50k so I could get a fastback with PP. Losing almost $30k to depreciation in 6 months is criminal, don't understand it. I paid just under $68k, thought I'd lose maybe $10k, not almost half the freaking value. Will never buy a new Ford again.

No way I’d keep some wrecked heap. I would dump it on something else the minute it comes out of the body shop and I mean that day.

 

[Germansheperd]

The plan was to keep this car forever but now with the damage done to it and the subsequent rattling like hell everywhere and now the Magnaride suspension issues I don't want to chase my tail trying to get it back the way it was because it will most likely never run the same so all I'm doing is killing my insurance rates for no reason if I'm gonna trade it in anyway, only a couple thousand dollar difference in trade in value whether I get it fixed first or not.

I know it's a liability but that much depreciation so soon is completely ridiculous. Besides the recent issues it looked and ran better than new. I took very good care of it, even had a full ppf on it.

The plan was to trade it in for a fastback (I want the slightly better handling and option to track it now that I'm into the whole V8 thing) but I'm not getting enough back for even a base model fastback, much less one with another NPP, 401A, AVE, PP, Magnaride.

i see used mustangs online that are all selling $8-10k off sticker, with more miles and less options than mine, so I really don't understand why my particular VIN is worth so much less. I bought in mid May for just under $68k MSRP (I got around $1500 off sticker).

This experience has completely ruined the brand for me, probably will go back to a V8 hemi jeep grand cherokee and put this mess behind me.

Dude my old lady 3 mos ago bought a brand new 24 Rubicon for 53k with 65k MSRP- 12k off. So what is trade 40-45K?
If you think Jeep is the answer to your financial blunders you are solely mistaken.

 

[Stonehauler]

I bought a convertible GT premium in mid May for MSRP at $68k. It's in race red, has NPP, PP, Magnaride, 401a, and just over 7k miles on it. I'm looking to sell it or trade it in for either a fastback or something with 4 wheel drive. I thought I'd be moving to a warmer place for winter but the job fell through. The best I'm getting offered is 42k with Carmax, everywhere else has tried offering me mid 30s! Even the KBB is about the same. I see similar cars to mine, mostly without the PP or Magnaride, and with more miles, selling for way more. Can anyone tell me why mine in particular has depreciated $25-30k in only 6 months? Biggest gut punch ever, and I can't figure out why mine has been cut in half so soon.

1) demand isn't there
2) you are selling a convertible in winter.
3) Remember that cars depreciate. 10 percent of more as soon as you take it off the lot. 20 percent within the first year

Add the three things together and you are coming up with low bid.

Sell it privately and you might get 48-50, but you might want to hold off until mid-late spring.

Note, flipping cars generally only works with low volume high demand vehicles. Selling a mass market vehicle like a mustang GT (no matter what options) means you are likely to take a bath as people will wonder why you are selling it. Wreck it, track it, try and tune it (and make a hash of it), can't afford it, etc.

Honestly though, with the prices being shown, 42 k for a car selling for 48 on the market (convertible at the end of fall/beginning of winter) means that's probably a good offer.

Wait till spring,

 

[Mustang1987]

If they're offering you $42k for it, they're going to sell it for $50k. So it's a year old in terms of the model year and has 7k miles on it and the MSRP is 68k and they're going to sell it for 50k. Not that off to be honest.

Try selling it privately.

 

[Alan Applegate]

Explain this to me!

My 2024 Eco-Boost Premium is ≈150 days old. It has under 1,100 miles on the OD. The only "upgrade" I've done is mud flaps. I looked the vehicle up on three web sites (KBB et. al.), and searched for the same vehicle used (CarMax et. al.). I found 4 but no white ones. All were over what I paid for the car (Just over $40K).

 

[Farmer Fran]

If they're offering you $42k for it, they're going to sell it for $50k. So it's a year old in terms of the model year and has 7k miles on it and the MSRP is 68k and they're going to sell it for 50k. Not that off to be honest.

Try selling it privately.

Usually is the best way to come out ahead. But almost always a PITA!!!

 

[robvas]

Explain this to me!

My 2024 Eco-Boost Premium is ≈150 days old. It has under 1,100 miles on the OD. The only "upgrade" I've done is mud flaps. I looked the vehicle up on three web sites (KBB et. al.), and searched for the same vehicle used (CarMax et. al.). I found 4 but no white ones. All were over what I paid for the car (Just over $40K).

1. Trade it in

2. Profit!

 

[Eurasianman]

1) Selling a convertible during the winter season is going to hurt.
2) Depreciation has always been a thing. This is nothing new.
3) If you want the most money back, private selling is your best bet.
4) Either keep the car and continue on your pursuit to have it fixed correctly (this shouldn't affect your insurance rates after the initial fix. It's not your fault that the auto shop was incapable of properly repairing your vehicle. If anything, report this to your insurer so that they remove them from their list).

I just did a quick KBB and if I were to trade my vehicle in, I would lose close to $20k. No surprise there. I have had my vehicle for almost a year and it has 10,000 miles.

 

[steyr]

I agree OP it seems like the more options you add, you get screwed. The dealerships don't seem to really care about the options on them when you trade it in. Also like others have said car production is back to about normal so things are sitting on lots again. I also got offered like 42k on my trade-in and my GT wasn't near as loaded as yours.

Like I said my Hellcat I traded my GT for was listed as used with only a few hundred miles on it, and I got it for almost 20k off sticker. A freaking Hellcat. It was less than a Dark Horse. They don't make Hellcats anymore and haven't for a while, and there are still even new Redeyes on lots for 15k off sticker. I remember when I got my GT in early '24 Dodge was still trying to sell Scat Pack Widebodies for 65k and I laughed because I could get a Dark Horse for as much. Now it turns out I got my Hellcat for about as much.

 

[Ciulster]

The problem is it's a convertible. Only sad old men and teenage girls like convertibles. Lol. Joking aside, convertibles ARE usually less desirable in general to the average buyer, especially in the winter months. If you look at the market right now how many convertible cars are out there for sale brand new right now? That should tell you right there where consumer sentiment is at. A Battery electric SUV or crossover has a better chance of holding value for the first few years than a convertible. Though we'll see where these EV's are in 10 years haha!

That being said I was expecting a steep dropoff in price the first few years with it holding around 50% of its value for upwards of 10 years or so. I still see a lot of GT Premium and performance trim S550's from the 2015-2017 range going for $20k-$40k depending on mileage, season etc. After initial dropoff the value doesn't really tank until about the 20-30 year mark, after which if the vehicle is still in immaculate shape it will start to regain value as it becomes more rare to see vehicles of its vintage even driving around still.

Sponsored