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  #1  
Old 04-19-2016, 11:53 AM
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Best time to sell?

This is going to be a tough thread to write.

When do you think is the best time to sell the GC?
Ignoring those that say "Drive it for 20 years and then sell it".

Im talking about for those of us that bought our Jeep GC new, when do you think is the best time to sell the Jeep for minimal loss?

Ill use myself as an example:
2015 Overland 4x2 V6 w/ Advanced Tech
Purchased 42k OTD
Financed 30k
Current Payoff $26,305
Positive Equity in Vehicle (Based on KBB) $9,239

Based off those numbers, I could see my vehicle right now and have 9k to put down towards a new vehicle.

But is it better to continue making payments while the value of my vehicle decreases with each day/mile driven? What are the rest of you doing in terms of how long you are keeping your vehicle before selling?

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  #2  
Old 04-19-2016, 11:57 AM
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Re: Best time to sell?

Honestly, I'm not sure it's "practical" to try and make the sell decision based on the numbers like that in most cases. Moving on is something more subjective...desire for new features or a change. Personally, I'd be disinclined to sell while there's still a loan on the vehicle as they can introduce, um...opportunities to spend more than intended due to the potential emotional choice of something new.

Then again, will ~$9K of down payment get you what you'd really desire in a new one affordably? That might push some buttons...
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Old 04-19-2016, 12:06 PM
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Re: Best time to sell?

Excellent point. No need to sell unless theres a vehicle your absolutely in love with. Personally im waiting till the 2017 GC comes our OR the Jaguar F-Pace.

The 9k down is always a great incentive to have. Basically you can buy a 39k car with monthly payments of a 30k vehicle.
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Old 04-19-2016, 12:14 PM
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Re: Best time to sell?

I traded my '14 after 3 years, had just under 10K in positive equity in it. Between that and the group buy discount, it made my '16 75th Limited Hemi fairly affordable and was definitely a consideration when I was debating on buying the '16.
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Old 04-19-2016, 12:26 PM
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Best time to sell?

No wonder they price these so high, almost everyone finances, and then don't even pay it off and buy new again with more financing. Spending and money management failures is the main problem with people not being able to save and build wealth. And now you want a new Jaguar SUV, I think it looks nice too, but good God.
Same thing with homes which at least they normally don't lose value. I wish lending money didn't exist. But go in debt, it's what the average American does. I know I will be attacked for this post, but I know I'm right.


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Old 04-19-2016, 01:13 PM
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Re: Best time to sell?

Quote:
Originally Posted by jgc4ever View Post
No wonder they price these so high, almost everyone finances, and then don't even pay it off and buy new again with more financing. Spending and money management failures is the main problem with people not being able to save and build wealth. And now you want a new Jaguar SUV, I think it looks nice too, but good God.
Same thing with homes which at least they normally don't lose value. I wish lending money didn't exist. But go in debt, it's what the average American does. I know I will be attacked for this post, but I know I'm right.


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You are right, but I'm single with no kids and no plans ever for either. So I buy nicer cars than I can really afford. I can't take my money with me so I'm gonna spend it before the Dems take it all.


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Old 04-19-2016, 01:18 PM
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Re: Best time to sell?

If you are trying to get as much as possible, I would sell soon. I have been watching and trying to buy for awhile and there are now 2014 Laredos that are dropping into the $16,000 range. They just build so many of these cars that there are a million available.
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Old 04-19-2016, 01:44 PM
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Re: Best time to sell?

Quote:
Originally Posted by jgc4ever View Post
No wonder they price these so high, almost everyone finances, and then don't even pay it off and buy new again with more financing. Spending and money management failures is the main problem with people not being able to save and build wealth. And now you want a new Jaguar SUV, I think it looks nice too, but good God.
Same thing with homes which at least they normally don't lose value. I wish lending money didn't exist. But go in debt, it's what the average American does. I know I will be attacked for this post, but I know I'm right.


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I both agree and disagree with your statement. You are absolutely correct in that people are financing more than they should and having perpetual payments. People jump from one loan to another just to get the newest shiny toy.

On the flip side, many people (myself included) have the means to purchase or finance these vehicles and build it into our lives. I financed my vehicle and in less then a year have 9k in positive equity. Many other individuals are able to work out financing so that it fits into their financial situation without being underwater to the bank.

In the end, it all comes down to personal responsibility. There is a financing issue within this county be it vehicles or homes, but many people are still responsible enough to know their financial situation and what fits best in their lives.
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Old 04-19-2016, 02:18 PM
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Re: Best time to sell?

Quote:
Originally Posted by jgc4ever View Post
No wonder they price these so high, almost everyone finances, and then don't even pay it off and buy new again with more financing. Spending and money management failures is the main problem with people not being able to save and build wealth. And now you want a new Jaguar SUV, I think it looks nice too, but good God.
Same thing with homes which at least they normally don't lose value. I wish lending money didn't exist. But go in debt, it's what the average American does. I know I will be attacked for this post, but I know I'm right.


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+1

I don't understand how having a few K in equity means it's smart to sell and buy another car? I've never sold a car I didn't own outright and never leased so I may be in the minority.

OP put down 12k
made about 4k in payment
bought tires and other accessories? 1k
--------------------------------------
Total expense 17k
What you hope to get back 9k
-----------------------------
So you spent 8k to drive the Jeep less than 10 months.

If you think it's worth it then go for it.
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Old 04-19-2016, 02:40 PM
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Re: Best time to sell?

Quote:
Originally Posted by jgc4ever View Post
No wonder they price these so high, almost everyone finances, and then don't even pay it off and buy new again with more financing. Spending and money management failures is the main problem with people not being able to save and build wealth. And now you want a new Jaguar SUV, I think it looks nice too, but good God.
Same thing with homes which at least they normally don't lose value. I wish lending money didn't exist. But go in debt, it's what the average American does. I know I will be attacked for this post, but I know I'm right.


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I think it's a toss. A home and a car are generally the two largest purchases someone will ever make, although cars are sorta expendable. Me personally, with lending rates so low, I don't think I would ever pay cash for a car or a house, especially with 0% interest loans. I'd use someone elses (bank) money and let my own accrue interest. I definitely don't know if I'd ever lay down $300,000+ in cash for a house outright, though I know it's not a "bad" idea per se.

That said - buying an selling after 3 years or so isn't that much different than leasing, which is fairly popular. Also - if people like me/us weren't trading cars in...there wouldn't be any used ones
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Old 04-19-2016, 02:56 PM
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Re: Best time to sell?

Interesting article today on why Sergio is so hot on merging with someone. In most of their market including the U.S., FCA has no funding arm. The interest income that others have, helps offset profit during dips in the market.

FCA just goes deeper in debt.

For the OP, there is no right or wrong answer. Having been happily retired since I was 55, my piece of advice is to drive nice cars, but before ordering all the extras, fund your retirement. Hopefully your years in retirement will last longer than any car.


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Old 04-19-2016, 03:29 PM
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Re: Best time to sell?

Everyone is making excellent points on both sides of the argument.

For me, I have 12% of my paycheck going towards retirement, my company gives me a vehicle allowance, I have no loans or credit card debt (minus the jeep), and am single with no kids. Not everyone is out there racking up debts and financing things they cant afford. Believe it or not, some people actually have their shit together.

I dont plan on selling my vehicle until 2017 at the earliest. The point of this post was to gauge how other people think and when they would be most likely to sell their vehicle. Not just to gain insight on my own situation
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