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Old 04-24-2015, 11:03 PM
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2014 GC Overland... Good deal?

Greetings everyone. Hoping some of you can provide some insight or advice.

Looking to purchase a 2014 Certified Pre-Owned Jeep Grand Cherokee Overland. Car is clean without any blemishes on the paint or wheels. It is Billet Silver with Indigo Blue/Jeep Brown Interior. 5.7 V8. Mileage is just at 30k. Dealer was asking $41,500 and negotiated down to $39,200. Good deal? I haven't accepted their offer.... so feedback from all of you is appreciated.

Thanks!

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Old 04-24-2015, 11:31 PM
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Re: 2014 GC Overland... Good deal?

Need options to properly weigh in but seems high.
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Old 04-24-2015, 11:44 PM
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Re: 2014 GC Overland... Good deal?

Quote:
Originally Posted by 14SummitHemi View Post
Need options to properly weigh in but seems high.
Has technology package, towing package, all options Summit has except exterior modifications obviously... thanks!
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Old 04-25-2015, 12:06 AM
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Re: 2014 GC Overland... Good deal?

K, so that's $52,180 MSRP, $49,268 Invoice.

My basic formula for 1 or 2 yr old but still current body used value is to take $.50/mile off the realistic price I'd pay. To me that's a high of Invoice (very easy to get) to a low of 5% below Invoice, not counting rebates.

So, I would have a buy range of $46,800 (5%) to $49,268 (Invoice) LESS mileage deduction of $15k (30k miles x $.50/mile).

So to me the value of that rig is roughly $31.8k to $34.2k. I know that might seem low but $.50/mile is the right hit, IMHO, since that's the cost of this rig over it's "legal" life of 100k.

So if I could buy a new one still without breaking a sweat for $46k ish I would not take any 30k example at only $6-7k less.
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Old 04-25-2015, 12:22 AM
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Re: 2014 GC Overland... Good deal?

You make great points.... What's your take on it being certified?
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Old 04-25-2015, 12:41 AM
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Re: 2014 GC Overland... Good deal?

I have only done one CPO, a 1998 BMW 528i Sport. Basically to me all CPO's are low mileage, meaning pre-maintenance needs, so it's hard to go wrong on a recent lower mile mule. So you pay more for a CPO at a dealer than you would an equal mile but non-CPO from a private party. But it will likely give you some wiggle room on marginal warranty repairs and it has apparent (I disagree tho) less risk with a dealer CPO than a private party. I'm just too skeptical of dealer used car operations.

So, my answer? Eh, it doesn't change the economic decision for me. For you, maybe CPO is worth $1-2k ish? If I buy used I have to be at half MSRP to get me interested so that usually puts me about 4 yrs old and on the cream-puff hunt.
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Old 04-25-2015, 11:03 AM
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Re: 2014 GC Overland... Good deal?

Seems like a ton of miles already on a 2014. That leads me to believe it is a early build which may or may not be an issue. I personally would want a later built 2014 to avoid some of the common issues people are experiencing. Besides that, the price seems steep. For that price it would need to be must lower miles more like 10k or below.
Great vehicles though love the 2014's and up.
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