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Perhaps your needs have changed and you, grudgingly, must put your Jeep on the block. We feel your pain. On the positive side however, Jeeps are always in demand and hold their value well. You simply need to get your ride prepped to sell and figure out what price you should seek. With that in mind, here’s what you should know about valuing your used Jeep for sale.
Vehicles and Depreciation
First, reality: a new vehicle can shed up to 25% of its original worth in a single year. That’s a lot of depreciation. Therefore, it’s smart to purchase a vehicle that retains value. Because the average person sells their car or truck after five years of ownership, it’s wise to choose a ride that loses less value after five years than the average vehicle. But you’re selling – not buying, you say. Well, it works both ways: when you’re ready to sell a vehicle that holds onto its value, you can come out on the sweet end.
Do Jeeps Hold Up, Resale-Wise?
Jeeps do very well when it comes to value retention. On average, they have a much slower rate of depreciation than most vehicles. Look at the always-desirable Wrangler: after five whole years on the road, perhaps being flogged by challenging trails, the iconic four-wheeler typically hangs on to 60% of its MSRP. That’s unheard of -- and is a reason Wranglers are everywhere.
There is research to back this up. According to a study of 4 million new and used rides, Jeep’s Wrangler and Wrangler Unlimited were found to depreciate at a slower clip after five years than comparable vehicles. Coming in third place was Toyota’s Tacoma, followed by the automaker’s Tundra.
Why Do Jeeps Hold Up So Well?
Jeeps tend to depreciate slower mainly because they’re so darned durable. After all, they are built to hold up under harsh conditions and on rough terrain. Plus, Jeeps are relatively easy to repair.
Jeep Wranglers in particular stay in demand because, despite technological improvements, they basically look like they always have. That iconic silhouette – its roots in World War II -- is still there.
Then there’s the Jeep lifestyle, which has spawned a vast online Jeep community in which aftermarket upgrades are a frequent topic of conversation. In turn, modifications generally heighten Jeeps’ value.
Further, any discussion about Jeeps and value retention would be remiss without mention of the marque’s offroad superiority. When it comes to conquering trails and rock climbing, you cannot do better than Jeep. And that is valuable.
Figuring Out How Much Your Jeep is Worth
In case you haven’t noticed, used vehicle prices are on the high side right now. While that situation is expected to right itself at some point, sellers these days have the upper hand. You can use apps such as CoPilot’s Hidden Profit Calculator, Craigslist, Cars.com, AutoTrader.com, and the best used car websites to help you find your asking price. Because your ride is a Jeep, you already have an advantage. Other factors that contribute to your vehicle’s value include trim, body style, powertrain, mileage, condition, and location.
Make Sure Your Jeep Looks Good
Yes, we know, a muddy Jeep in the wild looks, well, kind of cool. There aren’t many vehicles you can say that about. However, when it comes to readying your ride to be sold, you must provide some curb appeal. You want to at least wash and vacuum the Jeep before showing it to prospective buyers. After all, you wouldn’t want to make a shopper wonder whether you’ve been negligent in other areas, such as maintenance. You also may want to fix scratches or even small dents. And don’t forget to remove any personal belongings from cargo areas.
So, ultimately, there are a few steps you should take when valuing your used Jeep for sale, including checking out apps and cleaning it inside and out. But hey, it is a Jeep, so you won’t have to work that hard. In fact, if the ride’s in good shape, you may even be able to get what you paid for it.