Epic depretiation on my HA ! - Jeep Garage - Jeep Forum

Go Back   Jeep Garage - Jeep Forum > Jeep Platform Discussion > Grand Cherokee - WK2 -

Reply
 
Thread Tools Display Modes
 
  #1  
Old 04-07-2016, 04:37 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 246
Thanks: 5
Thanked 36 Times in 29 Posts
Rep Power: 911
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Epic depretiation on my HA !

So I called the dealer I picked up my 2015 HA at 4 months ago, they have a 2015 SRT with 800 miles for sale and I wanted to see what the damage would be bailing from my lease and picking it up, guys tells me he'll crunch the numbers and get back to me, couple hrs later he calls and says that all they can offer me on my 3000 mile $54,175 msrp HA is $36k , they tell me the payoff would be around $45k to Chrysler financial because I got a pretty decent deal so I would have to come up with $9k to get out. I was expecting there to be some negative equity but how did my bascially brand new Jeep lose $18k of value in 4 months and just 3000 miles ? When I run it through KBB and Nada (I know the delears use something else that usually gives a lesser value) it gives me a $41-43k dealer trade in value and that's for an overland because they don't have the HA package. Is the dealer just trying to bend me over or is this the reality of how fast these cars depretiate ?

__________________
2015 Overland High Altitude / Billet Silver / Hemi / Harman Kardon / Volant CAI / Hellwig sway bar / AAR links / 22x10 SRT wheels
Reply With Quote
Sponsored Links
Advertisement
 
  #2  
Old 04-07-2016, 04:42 PM
Vance's Avatar
Member
My Jeep: 2014 3.6L WK2
 
Join Date: Mar 2016
Location: Denver-Metro area, CO
Posts: 29
Thanks: 9
Thanked 3 Times in 3 Posts
Rep Power: 485
Vance is on a distinguished road
Re: Epic depretiation on my HA !

This is exactly why I bought used...
I did my research and basically found there is about a 20% depreciation hit on this level of SUV the minute you drive off the lot, then about another 10-20% first year... then it slows (depending on market).

Here in Denver nice SUVs like the WK2s and Durangos and Explorer Sport and 4 Runners always / still go for a premium. They take that 30-40% hit then stop there for a few years before starting to decline.
__________________
...Verily, this vichyssoise of verbiage veers most verbose, so let me simply add that it's my very good honor to meet you and you may call me V.
Reply With Quote
  #3  
Old 04-07-2016, 04:43 PM
Member
My Jeep: 2015 6.4L SRT8 WK2
 
Join Date: Dec 2015
Posts: 270
Thanks: 16
Thanked 42 Times in 33 Posts
Rep Power: 818
Tinman4181 is on a distinguished road
Garage
Re: Epic depretiation on my HA !

Typical dealer. You would be much better off selling it on your own. You should have absolutely no problem getting 40k out of it.
__________________
- 2015 SRT -
Reply With Quote
Sponsored Links
Advertisement
 
  #4  
Old 04-07-2016, 04:50 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 246
Thanks: 5
Thanked 36 Times in 29 Posts
Rep Power: 911
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Re: Epic depretiation on my HA !

Quote:
Originally Posted by Tinman4181 View Post
Typical dealer. You would be much better off selling it on your own. You should have absolutely no problem getting 40k out of it.
Even that price is kinda depressing, I went on carmax to see what their selling at on there and regular overlands with 3-4 times the mileage are going for $43-46k
__________________
2015 Overland High Altitude / Billet Silver / Hemi / Harman Kardon / Volant CAI / Hellwig sway bar / AAR links / 22x10 SRT wheels
Reply With Quote
  #5  
Old 04-07-2016, 05:36 PM
f1anatic's Avatar
Premium Member
My Jeep: 2014 3.6L WK2
 
Join Date: Jan 2013
Location: Chicago, IL
Posts: 1,818
Thanks: 89
Thanked 237 Times in 172 Posts
Rep Power: 160270
f1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond reputef1anatic has a reputation beyond repute
Re: Epic depretiation on my HA !

If you are whining about it, spare a thought for the guy who went thru 3 Grand Cherokees, a Durango, a Cherokee in 2.5 years and was now considering another SRT...That story is in another thread.
Reply With Quote
  #6  
Old 04-07-2016, 07:26 PM
Miked37945's Avatar
Member
My Jeep: 2016 5.7L WK2
 
Join Date: Mar 2016
Location: Unfortunately, Chicago
Posts: 63
Thanks: 12
Thanked 21 Times in 12 Posts
Rep Power: 16565
Miked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond repute
Garage
Re: Epic depretiation on my HA !

If you buy new, expect to keep it 3 years before you trade it. I normally buy pre-owned. My 2016 is the first new car I've purchased since 1997. This was only because of the deal, the financing, their need to clear 2016s before 2017s came out, my research of their cost and the value of my trade. The numbers worked for me but I know I'll have to keep it at least 3 years before trading but I plan to have it much longer. What they tell is always part of their scam. Know ahead of time what the true numbers are and lead the negotiation. If you follow them they'll lead you to their bank
__________________
2016 Jeep Grand Cherokee Summit 5.7L V8
2011 Jeep Wrangler Sport 3.8L V6
2011 Harley Fat Bob 96cu
Reply With Quote
  #7  
Old 04-07-2016, 07:43 PM
Member
 
Join Date: Mar 2013
Posts: 18
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 1571
richardyc is on a distinguished road
Re: Epic depretiation on my HA !

Might want to double check with the guy that he knows the diff between a HA and a regular altitude?


Sent from my iPad using JeepGarage
Reply With Quote
  #8  
Old 04-07-2016, 07:44 PM
Miked37945's Avatar
Member
My Jeep: 2016 5.7L WK2
 
Join Date: Mar 2016
Location: Unfortunately, Chicago
Posts: 63
Thanks: 12
Thanked 21 Times in 12 Posts
Rep Power: 16565
Miked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond reputeMiked37945 has a reputation beyond repute
Garage
Re: Epic depretiation on my HA !

Quote:
Originally Posted by richardyc View Post
Might want to double check with the guy that he knows the diff between a HA and a regular altitude?


Sent from my iPad using JeepGarage
He knows.....
__________________
2016 Jeep Grand Cherokee Summit 5.7L V8
2011 Jeep Wrangler Sport 3.8L V6
2011 Harley Fat Bob 96cu
Reply With Quote
  #9  
Old 04-07-2016, 08:05 PM
not_too_shabby's Avatar
Member
My Jeep: 2014 WK2
 
Join Date: Mar 2013
Location: Portland, OR
Posts: 668
Thanks: 3
Thanked 32 Times in 26 Posts
Rep Power: 2242
not_too_shabby has a brilliant future
Re: Epic depretiation on my HA !

You can't really measure depreciation from MSRP. Hopefully nobody pays that. I bought my 2015 HA in January, MSRP was $50,880, bought it for $43,280. $7000 off seems to be pretty standard on new 2015s still on the lot so obviously that will hit your resale pretty hard when it's only a few months old. I traded in my 2014 Overland 4x4 w/o advanced tech, 27,000 miles, to Car Max for $30K. The dealer was only offering $27,000. Car Max listed it for $34,000. I had bought if for $43,500 which was a pretty crappy deal. I bought it right when the 2014s came out and at the time it was a decent price. The way I look at it, I spent $13,280 to upgrade a 33 month old car with 27,000 miles on it and only 3 months of full warranty left. I got $3000 more in options. Not a horrible loss over that time.
__________________
2015 Grand Cherokee High Altitude 4x4 V6
Granite
Download my App - iLeaseMyCar Pro Auto Loan and Lease Calculator for iPhone or iPad
Reply With Quote
  #10  
Old 04-07-2016, 08:17 PM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 246
Thanks: 5
Thanked 36 Times in 29 Posts
Rep Power: 911
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Re: Epic depretiation on my HA !

Quote:
Originally Posted by not_too_shabby View Post
You can't really measure depreciation from MSRP. Hopefully nobody pays that. I bought my 2015 HA in January, MSRP was $50,880, bought it for $43,280. $7000 off seems to be pretty standard on new 2015s still on the lot so obviously that will hit your resale pretty hard when it's only a few months old. I traded in my 2014 Overland 4x4 w/o advanced tech, 27,000 miles, to Car Max for $30K. The dealer was only offering $27,000. Car Max listed it for $34,000. I had bought if for $43,500 which was a pretty crappy deal. I bought it right when the 2014s came out and at the time it was a decent price. The way I look at it, I spent $13,280 to upgrade a 33 month old car with 27,000 miles on it and only 3 months of full warranty left. I got $3000 more in options. Not a horrible loss over that time.
I got a decent lease deal but if I was to trade it in the dealer would list the msrp and then probably price my car out at around $46k or so, I know the reality of leasing and especially picking up a car right at the end of the model year but a 33% depreciation in value in just a couple months and 3k miles is pretty crazy
__________________
2015 Overland High Altitude / Billet Silver / Hemi / Harman Kardon / Volant CAI / Hellwig sway bar / AAR links / 22x10 SRT wheels
Reply With Quote
  #11  
Old 04-07-2016, 09:10 PM
jgc4ever's Avatar
Senior Member
My Jeep: 2015 WK2
 
Join Date: Mar 2011
Location: Omaha Nebraska
Posts: 4,110
Thanks: 197
Thanked 261 Times in 208 Posts
Rep Power: 1162216
jgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond repute
Garage
Re: Epic depretiation on my HA !

First offer is usually a low ball offer as it is here.


Sent from my iPhone using JeepGarage
Reply With Quote
  #12  
Old 04-08-2016, 04:58 AM
Member
My Jeep: 2015 5.7L WK2
 
Join Date: Dec 2015
Location: Long Island
Posts: 246
Thanks: 5
Thanked 36 Times in 29 Posts
Rep Power: 911
EasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond reputeEasternLI has a reputation beyond repute
Re: Epic depretiation on my HA !

Quote:
Originally Posted by jgc4ever View Post
First offer is usually a low ball offer as it is here.


Sent from my iPhone using JeepGarage
I know but I doubt the guy is going to come up $7-8k to make it worth my while, the added bummer is the deal on the SRT is pretty awesome, it's being discounted almost $14k with a decent finance rate and payments
__________________
2015 Overland High Altitude / Billet Silver / Hemi / Harman Kardon / Volant CAI / Hellwig sway bar / AAR links / 22x10 SRT wheels
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Whos gonna be the first to drop an EPIC build at JG? tugboatchad Grand Cherokee SRT8 - WK 43 07-09-2010 09:45 AM

» Premium Vendor Showcase
Powered by vBadvanced CMPS v3.2.3

All times are GMT -5. The time now is 07:11 PM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Copyright 2012 - JeepGarage.Org
The Jeep Grand Cherokee Owners Community

JeepGarage.org is in no way associated with or endorsed by FCA US LLC. Chrysler, Dodge, Jeep, Ram, Mopar and SRT are registered trademarks of FCA US LLC.