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  #1  
Old 09-08-2012, 01:27 AM
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G.C. WK resale/trade-in value SVCKS!!

The following information is based upon my personal and TRUE experience. No exaggeration or lies, just the real FACTS.

I'm putting this out there for anyone looking to BUY or looking to SELL. It's information to know the REAL deal and the REAL numbers.

My Jeep is a 2010 Grand Cherokee Limited with the "rare" S package and Hemi Motor. It has 17,000 miles and it's condition inside and out is a 9.5 out of 10. No accidents, no paintwork and no Carfax drama.

(The S package was a $2,800 option for those not in the "know". It consisted of SRT8 styled leather seats with side bolstering and suede inserts, special aluminum trim on the dash and console, unique 18" aluminum wheels, full trailer towing package, skid plates and about 10 other items)

The sticker price was $45,300

For the condition, mileage and options (all except the S package) KBB puts trade-in value this week at $27,300 for a regular Limited model. NONE of the sites (KBB, Edmunds, Blackbook or the dealer auction site Galves) has an "add-value" for the S package.

After 3 weeks and going to countless new car dealers in THREE STATES the following is what I was offered for a trade in price:

-The LOWEST and most insulting offer I received was $20,000!!!
This was from an Audi dealer, who obviously didn't want a Jeep as a trade in. I was told that "most likely I could do better at a Jeep dealer who could properly move the vehicle. We would just wholesale it out"

-The "average" trade in prices I got was between $24,000 and $26,000 from Jeep dealers.
That is between 40% and 45% drop in value/price in 2 years from date of purchase!
(We really need a thumbs down icon here)

It took work, and I mean real headache haggling to get an offer of $27,000. And that was only on the last day of the month, when the dealers were scrambling to get those end of month sales numbers up.

-One, and only one dealer gave me an "extra" $500 on the trade for the $2,800 S package.

The flip side to all this is the Retail end for a dealer. Two days ago I met someone who just bought a used 2010 Limted Type S, optioned just like mine. 7,000 more miles on it and not in anywhere as nice condition as mine. He paid $32,xxx for it at a dealer after negotiating down from an asking price of $35,000!!!

Dealers stand to make the most money fron a USED car sale, than a new one. Why? Because no consumer shopping for a USED car knows what the dealer ACTUALLY paid for it. In new car shopping, everyone knows what dealer invoice is. And yet...dealers do not want to pay up for an excellent condition/clean used vehicle they have the potential to make thousands on!!

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Old 09-08-2012, 07:39 AM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

It's certainly a rough experience when you get less than you want for your trade...

That being said, your experience is pretty typical. Dealers will seldom give blue book on trades, and will never pay for rare upgrade packages as they are almost always stylisitic. The features (tow package. Leather, etc.,) will be value added on your trade...the silver dash trim is not. The depreciation sounds about right. Average depreciation for cars is 15% per year, factor in there is a much more popular model recently released, and your value sounds about right.

You likely would have done better selling privately.

Yes, dealers are in business to make money...
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Old 09-08-2012, 10:32 AM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

Dealers are in the business to make money, new car sales dont make money, usually about $800 a car on average. Take out the salesmans on average 20% cut of the commision, that puts them at about $650 profit.

So they offered you $25k for your car, they now have to have a full inspection done on the vehicle, as well as prepar for any hidden costs they may endure. Just because it has low miles, and appears in good shape, as a dealer, we have no idea, also, if you are getting rid of a 2 year old car with 17K that may mean to us that something is up with it.

The second you drive a new car off the lot, you'll never get anywhere near as much for it. over 2 years, about 40% of the MSRP is gone assuming good mileage. Dealers dont care about the rarity, its still a jeep, the packages mean nothing, its technically to them, a jeep with leather and some bells and whistles.

Most likely they are going to send it to an auction if they are not a jeep dealership. Auctions cost money, they pay to have the vehicle listed and pay a percetage of the auction price to the auto auction.
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Old 09-08-2012, 11:05 AM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

Quote:
Originally Posted by JMLoughrey View Post
Dealers dont care about the rarity, its still a jeep, the packages mean nothing, its technically to them, a jeep with leather and some bells and whistles.

Most likely they are going to send it to an auction if they are not a jeep dealership.
The dealerships offering the higher trade-in numbers were ALL Jeep dealers. None would auction out the Jeep. They knew they had a gem and would Retail sell it.

The biggest issue is they don't care to PAY wholesale for the rarity or packages.
But when it comes to flip it to another customer, 100% they will EXPLOIT every extra option it has for the maximum profit.
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Old 09-08-2012, 11:25 AM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

Quote:
Originally Posted by fivespeed6 View Post
The dealerships offering the higher trade-in numbers were ALL Jeep dealers. None would auction out the Jeep. They knew they had a gem and would Retail sell it.

The biggest issue is they don't care to PAY wholesale for the rarity or packages.
But when it comes to flip it to another customer, 100% they will EXPLOIT every extra option it has for the maximum profit.
Welcome to the world of used car sales! As you found out trying to sell your jeep to a whole bunch of dealers, this is the way it is everywhere, good or bad.

Like I said above, if you were that concerned you could have went through the hassle to sell it privately and exploit every extra option you think you had paid for and kept the maximum profit for yourself.

It sucks when it happens, but I would imagine most of us have traded in a vehicle to a dealership and had the same experience. C'est la vie.
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Old 09-08-2012, 01:02 PM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

I just traded my 2010 Mazda CX-9 AWD with 13000 miles on it for the 2012 GC.
Its all a numbers game but they said they gave me $22,500.00 for it and I rolled $1650.00 into the jeep. Sticker on the jeep was $36400.00 after it was all said and done tax ,transfer fees and paperwork fees I financed $35200.00. The dealer never loses.
Now get this the mazda I rolled 6k into and financed around $33k,so that made the mazda roughly around $27k...I go and look on line to see if they had my car on it and they had it listed at 28k.....more then what I paid new for it!!!! what a numbers game..Mazda held its value pretty good I guess.
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Old 09-08-2012, 01:25 PM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

Quote:
Originally Posted by dr.lee.baugh View Post
It sucks when it happens, but I would imagine most of us have traded in a vehicle to a dealership and had the same experience. C'est la vie.
Four of the five last vehicles I have owned, I traded in. (One I had the time to sell privately) ALL with much better results than the Jeep unfortunately.
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Old 09-08-2012, 08:00 PM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

that's why I never buy new vehicles..... i bought my 06 w 14kmiles in 2008 for $17k...it's all paid for now with 80k miles and it's still worth something LOL but I don't plan on parting with it until it is completely dead!

good luck though. you should just sell it yourself and eliminate the dealer profit margine.

fyi...dealers have a completely different version of "book values" than we do. they go strictly by recent auctin sale value....and unfortunately, that is DEALER auction price, NOT public auction price.

good luck!
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Old 09-09-2012, 07:06 AM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

I just recently bought a 2009 WK Overland w/HEMI and ALL options (which there are really only two options on the Overland, lol). 1 owner and they paid $46k for it. I bought it for $20k. So yea, not a lot of top model cars hold their value that well...execpt Toyota's.
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Old 09-09-2012, 09:29 AM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

You also have to take into consideration the economy, with gas in the north east at almost $4 a gallon, someplaces over $4 a gallon, they market for people willing to purchase these cars that get sub 20mpg are getting smaller and smaller.
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Old 09-09-2012, 09:33 AM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

I just traded a mitsubishi eclipse for over what KBB said, and it had some body damange, hail on the hood, rear bumper backed into twice, and some nicks here an their.. i traded it in for this WK.. i over paid for the WK, but i got way more than i expected on my eclipse.. so i consider it even.
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Old 09-09-2012, 01:18 PM
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Re: Jeep Grand Cherokee WK resale/trade-in value SVCKS!!

Thats a nice jeep. I would keep it. My 2008 is about 16 payments away from paid off. Ive also had it since april 2009. I paid 25,000 for mine, one year old with 19k miles on it.

Why are you trying to get out of such a RARE vehicle? Craigslist or cars.com list it. At cars.com you can sort by trim level. Handy for people like me who will not drive cars with cloth seats.
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