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post #1 of 8 (permalink) Old 06-24-2008, 10:05 AM Thread Starter
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trade in values

I have been shopping around dealers looking to trade in my Commander I bought new in 06.
It has been quite an eye opener. I have my Commander listed locally for 17,900. I have the U package, Mopar Nav unit, rear DVD, tow package 2" lift and new tires. I have 28,000 miles on it and it is in near new condition. Kelly Blue book says it should be worth somewhere around 16-17 trade-in value.
The dealers say they use Black book current auction values which I guess is what they are actually selling for wholesale or what the dealers can buy them for.
I had one dealer offer me $13K and then another dealer offer me $12K yesterday. I do believe them in that they can buy Commanders right now really low at auction as they are just sitting on the lots right now. What I wonder is if the prices are going to bottem out soon and should just wait it out or do I take the hit now before it gets worse?
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post #2 of 8 (permalink) Old 06-24-2008, 10:14 AM
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KBB is probably average retail value, if the dealer retailed it. They are going to buy it as cheep as possible. They want to sell you a vehicle at retail and they make money on the new and on the used.

Dont care what they can buy them for, do they want to sell you a vehicle?

You can move numbers around all over the place, more here less there.....but what do you want to spend?

Focus on the bottom line, dont let them fool you with I can buy it at an auction for $3000 less. Ok, but are you selling your new cars there??

If you decide to sell or trade, check auto-nation, and Craigslist and everywhere else you can think of to get ideas of the market value of your Jeep. But no, I dont think the resale value will go on any of the SUV's if gas doesnt drop in a hurry.


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post #3 of 8 (permalink) Old 06-24-2008, 10:38 AM
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I believe all dealers use a book called Galves for their used car trade-in values. Of course Galves is always at least 10 - 15% lower than you will find in KBB.

If I were you, I'd hold on to the vehicle and wait to see what happens with gas prices. I think gas prices are having a direct impact on the value of used SUVs right now.
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post #4 of 8 (permalink) Old 06-24-2008, 10:48 AM
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I believe that as gas keeps going up, the value of our gas guzzlers will continue to decrease. If you are set on selling, I would bail sooner than later.





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post #5 of 8 (permalink) Old 06-24-2008, 10:53 AM
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Quote:
Originally Posted by walkjon
What I wonder is if the prices are going to bottem out soon and should just wait it out or do I take the hit now before it gets worse?
I would wait and just advertise locally right now. Try posting on Craigslist, auto trader, etc.

I went to my dealer a couple months ago to check on a trade for either a new Caravan or an 08 XK. I asked them what they would give me for trade. I was expecting around $12-13K, but they came back with $10,500!! Granted it has 52K miles on it, but even I was shocked. The dealer gave me a BS story about how they cannot tell me the exact price because the manager was not in. I have bought 2 vehicles from this dealership, and I expected to be treated more fair. I left the dealership and have no plans to go back.

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post #6 of 8 (permalink) Old 06-24-2008, 11:56 AM
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Quote:
Originally Posted by a49erFootballFan
I believe that as gas keeps going up, the value of our gas guzzlers will continue to decrease. If you are set on selling, I would bail sooner than later.

IMO, it's already too late. Gas prices have risen dramtically to the point that they really did some damage to the used SUV market. I doubt we'll continue to see gas prices continue to rise so dramatically. Actually, I suspect they'll start to decline after the summer driving season is over, although nobody knows for sure. One thing is certain--the damage is already done for SUV owners hoping to trade or sell for a good price. That's why I think it makes more sense to wait it out and see how the market responds in the future. We're probably at the bottom right now (or close to it), and everyone knows that selling at the bottom puts you in the worse possible situation. If nothing else, I'd hold on just to get some more value out of the vehicle and sell it when it is older, even if gas prices continue to rise or level out....
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post #7 of 8 (permalink) Old 06-24-2008, 10:58 PM
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I bought my fully loaded Limited 4.7 4x2 three months back for $19K. It seems like the car is losing market value close to $1K per month..... may be I should have waited.
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post #8 of 8 (permalink) Old 09-21-2008, 11:00 PM
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We all shouldn't be in remorse for our purchases. When buying a vehicle like the XK, indeed we knew gas mileage was not in our favor. SUVs are known for their use, not much for their resale. Ideally, if I wasn't intending to keep my XK, I would of leased it for short term. I've always been anti-leased though, so purchasing the XK was a big decision, as I did consider depreciation. For the long term, I say keep your XK, and just pay at the gas pumps when needed...like the saying ...'you drive, you buy!'.

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