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!!