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-   -   WK2 Overland Resale Value (http://www.jeepgarage.org/f73/wk2-overland-resale-value-18240.html)

justin1569 01-31-2011 07:18 PM

WK2 Overland Resale Value
 
Just curious what the rate of depreciation will be on Jeep's flagship model. I will be purchasing a 2013 Overland and selling my 2011 Overland and am curious how much I will lose. I'm financed at 3% variable in Canada here. Does anyone have the black/blue book figures on an extra clean jeep overland WK2? I figure that by the fall of 2012 I'll have ~30,000km or ~18,500 miles and 70,000 remaining km for warranty or 3 years. Resale should be higher then most two year old vehicles since it's the top of the line model with low mileage and basically full bumper-bumper warranty.

Anyones insight would be great!:) Whatever the depreciation is, I will save that approximate cost and use that towards my new jeep to essentially start the whole financing process from scratch with a likely bug-free model.

Archer9 01-31-2011 07:48 PM

Re: WK2 Overland Resale Value
 
Future depreciation is hard to predict. Will depend among other things on the price of gas in 2012. In 2008 gas was high and depreciation was brutal on big vehicles, and Jeeps in particular. Thanks also to Chrysler's problems at the time it was a buyers' market in my area, and you could throw the blue book out the window.. Keep an eye on the Middle East, cuz things are happening there that cold send the price of gas up. Your plan doesn't sound like a winner from a financial point of view, but if all you want is a new vehicle and are prepared to pay, then I wish all the best.

jeep2011 01-31-2011 08:33 PM

Re: WK2 Overland Resale Value
 
I always count for about $10K of the sticker for the first couple of years on just about any make. I am with you, I will be trading mine for the 2013 STR8 if I can wait that long.

pbm317 01-31-2011 09:28 PM

Re: WK2 Overland Resale Value
 
I believe 3 year residuals were close to 50%. But that's just an estimate.

moosehead 01-31-2011 09:32 PM

Re: WK2 Overland Resale Value
 
It's gonna be even more hurtful if you're assuming the 2013 is likely bug-free and the opposite is true for your 2011.

JTS97Z28 01-31-2011 10:26 PM

Re: WK2 Overland Resale Value
 
Hummmm this is kind of odd. You have a brand new 2011 Overland but yet you already have plans to sell that and get the exact same thing again in a couple years. Wow thats not a waste of money or anything lol. No matter what you do you are going to be losing your ass big time on that especially if you trade it in. Private party sale wont be as bad but your still going to be losing a LOT of money. If you were going to sell the Overland and get a different model such as an SRT8 then I could understand that, but to sell a 2011 Overland for the exact same thing 2 years later just seems goofy to me. But hey its your money and if thats what you want to do... Plus what makes you think in a couple years that your going to even want a Grand Cherokee?!?!?

justin1569 02-01-2011 07:41 AM

Re: WK2 Overland Resale Value
 
I usually sell within the family because one such family member cannot typically afford to buy brand new, so in a sense I'd be doing him a great favor. But if you what you guys are saying is true in terms of $10k, then damn...that is a lot. Maybe I'll have to wait longer to sell him my vehicle so I'm not essentially throwing my money away. I do love my Overland...I love it to death, but I was thinking that the sell in 2 1/2 year plan was okay.

Thanks for the tips and info...I will hold off based on what you all have said. Maybe he can buy a used WK2 from someone who does what I wanted to do.

jeepster23 02-01-2011 08:05 AM

Re: WK2 Overland Resale Value
 
Once you drive a new vehicle off the lot and it becomes used you basicaly lose 20% of its value right there.

Libre 02-01-2011 11:43 AM

Re: WK2 Overland Resale Value
 
Well, I am planning to buy a used Overland for my wife once used get cheap.

I already have mine and want to buy my wife the same car since she love mine. I am just waitting for prices to go down and more WK2 get to the used market.

She has a Liberty and she wants to upgrade big time hehe.

smoove7410 02-01-2011 05:54 PM

Re: WK2 Overland Resale Value
 
^^^In my experience with Chryco cars/trucks, within three years, prices are generally at 50% of new. I expect in three years to see used 11' overlands for 22k-25k.

justin1569 02-01-2011 08:13 PM

Re: WK2 Overland Resale Value
 
Brutal...not sure if that's correct though. I bought an '06 overland in spring '09 and paid 23k for it after taxes and everything and it had 80,000km. Black book for an overland with hemi/nav/media center at that time was around $19,500. Now If I sell my '11 Overland in the fall of '12 with 35,000km how much should I get? I'm guessing $35k-38k What's nice is that the vehicle is a '11 so people will think it's only a year old if I sell it in the fall of 2012. Oh and it'll have 3 years of bumper to bumper or 65,000km remaining of warranty. If I sell it to a family member which I intend to, then I'll have to take a hit...but if I can sell at a higher price then why not right?

Rosewood 02-01-2011 08:25 PM

Re: WK2 Overland Resale Value
 
Quote:

Originally Posted by JTS97Z28 (Post 345538)
Hummmm this is kind of odd. You have a brand new 2011 Overland but yet you already have plans to sell that and get the exact same thing again in a couple years. Wow thats not a waste of money or anything lol. No matter what you do you are going to be losing your ass big time on that especially if you trade it in. Private party sale wont be as bad but your still going to be losing a LOT of money. If you were going to sell the Overland and get a different model such as an SRT8 then I could understand that, but to sell a 2011 Overland for the exact same thing 2 years later just seems goofy to me. But hey its your money and if thats what you want to do... Plus what makes you think in a couple years that your going to even want a Grand Cherokee?!?!?

not to be a jerk but some of you guys have no clue. my accountant makes me buy a new vehicle every three to four years. get to use it, company pays for everything, write off the cost and then depreciate it. there are valid reasons to toss a vehicle after two years, and possible tax savings.


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