Weak Resale Market [Archive] - Cherokee SRT8 Forum

: Weak Resale Market


jaws12
12-23-2007, 09:21 PM
As I posted 2 days ago I am trying to sell my '08 GCSRT8 with only 1500 miles on the clock. It is an amazing vehicle, but I am more of a car guy. Anyway, my C4S is just as good in the wet and slippery conditions of winter here in NJ.

In the meantime, I can't get a single bite on the Jeep. Dealers don't even want to buy and I have a close friend who runs a BMW Dealership who placed some calls for me. He called 3 Jeep stores, including the store I bought the thing at, and none wanted to buy.

The best trade in number I have found is $35k. This is a '08 Red Rock crystal, MyGig, Package 1, NAV & Backup camera, etc... Stickered for over $45k.

I am both annoyed and shocked that Jeep dealers don't want it.

Any thoughts?

OurZoo
12-23-2007, 09:37 PM
My recommendation is to hit up some local car shows. I'm sure you'll find someone that is either in the market for one or perhaps someone you could get into the market.

jim383
12-24-2007, 07:42 AM
The dealer i bought mine from still has 6 07 srt-8 jeeps left and 1 08.Since i bought mine in aug 07 they have only sold 1 srt-8 jeep and it was an 08. It took them 90 days to sell my 06 srt-8 magnum and it was in mint condition. Some dealers wont even order an srt-8 because its a speciality car and in some areas there hard to move and the longer they sit the more flooring they pay. No 1 will give you over wholesale blue book for it . Keep it 2 yrs then get rid of it at least you wont be so far upside down in it.

REMJEEPSRT8
12-24-2007, 08:45 AM
Have had a similar issue with my Miata when I was thinking of buying the limited edition Turbo. The problem with used vehicles is that with all of the promotions and especially the low financing that are available for new cars, moving low mileage used cars is very tough. I was originally looking for a used Miata when I started, but with the promotions and 0% financing, it was worth buying new rather than used.

2BADGN
12-24-2007, 06:45 PM
Yes the Market is soft right now. Try Autotrader.

SRT8 Racer NB
12-24-2007, 07:20 PM
Guys the whole deal is that the market is terrible right now for gas guzzling SUV's. It's so bad especially for Tahoe and Suburban owners. I sell cars at a dealership and right now those things are bringing like 6k back of middle (loan) book in the NADA. The market is so cold on them right now. It's the same with our Jeeps just not as bad cuz there is some value to the SRT8 line. Right now if you wanna get rid of the Jeep, you will have to find someone that sees the real value for your vehicle. You can whore it out quickly or you can wait for someone to fall in love with it. The money is in the latter of the two.

Cody

*07 GC SRT8 black (stock for now)*

navyavi469
12-24-2007, 08:12 PM
I buy and sell SRTs... you just need some patience, the Christmas and new year holidays are a horrible time to try and resale something. Unless someone is trying to do some last minute shopping, you're not going to move it without a strong market. People have blown their christmas money already, you'll see improved response in january and february :)

I could probably beat 35K, but not by much.

07blksrt8
12-25-2007, 10:11 AM
The car market is very weak right now, and holiday season is just making it worse in the short term.

I purchased a new (dealer had 25 leftover 07 models) Honda Odyssey for the wife 2 weeks ago for $6800 (!) off sticker. For anyone on the know with these vans, that is unprecedented...we are in a very weak consumer market.

But, and this is relevant to your situation, I had to sell her A-1 condition 03 Odyssey to CarMax to get KBB book value for it. Honda offered $2.5K UNDER book; it had 43K miles, no paint work, ran perfect, etc. In better times it would have was a perfect CPO vehicle for Honda, but they did not really want it because they are overloaded with used Odysseys right now.

If you really need/want to get rid of the Jeep, try CarMax, you will likely get a better $$ figure from them for it, or retail it in AutoTrader and Ebay.

Cdog
12-25-2007, 01:05 PM
Carmax has a freaking hard on for Japanese cars, but they hate American iron. ESPECIALLY performance oriented American Iron. I'm guessing 34K at Carmax.

My dad always said "expect to lose 20% when you drive it off the lot." I think he was right, unless its a Camry.

navyavi469
12-25-2007, 03:04 PM
Carmax always give you market value less about 10%, and they always assume an average condition on any "clean" or "extra clean" vehicle no matter what.

Becuae market value is based upon auction or pre-auction sales across the nation, the data for the 08 hasn't built yet, there's nothing for wholesale buyers to base their decision on, and they will always err to the conservative side and offer you less in this case. Even though the 08 is new and has some upgraes, expect any dealer to offer you equivalent value of an 07.

2BADGN
12-25-2007, 04:20 PM
Carmax always give you market value less about 10%, and they always assume an average condition on any "clean" or "extra clean" vehicle no matter what.

Becuae market value is based upon auction or pre-auction sales across the nation, the data for the 08 hasn't built yet, there's nothing for wholesale buyers to base their decision on, and they will always err to the conservative side and offer you less in this case. Even though the 08 is new and has some upgraes, expect any dealer to offer you equivalent value of an 07.

Good point. I have seen this happen.

gpfarrell
12-25-2007, 06:51 PM
I don't want to buy your Jeep... I have one just like it already.

However, anytime I'm buying a car I want to know that dam price without asking.

You told us the MSRP... big deal. Make it interesting. Hang a $38,900 on it and maybe you'll get some bites.

You'll have to significantly undercut what Champion sells new ones for because, well, your's ain't new. Few Jeep dealerships are famous for good service, but they seem to offer some preferential treatment to customers that bought New at their dealership. You'll have to make up for that. Also, if I can get 3 years/0% on a new one (is that true?) you'd need to make your's cheaper still.

I've never bought a new vehicle until the Jeep because the SRT8's have great resale value. Try to buy a nice one for under $35,000... I couldn't find one in August for that money.

Cars only sell in two days if you price them too low. Put a price on yours, post some pics, and give it two weeks... maybe more to make up for the holiday mayhem.

Matt
12-26-2007, 01:12 PM
try putting an ad in the Canadian newspapers, etc. Canadians pay almost 20% more for new cars/trucks than we do. I recently sold a mini cooper S that had a lot of Canadian interest... Especially now with favorable exchange rates, I bet you'd find a Canadian buyer much closer to sticker than you'd expect.

91BlackSRT8
12-26-2007, 02:30 PM
Black 2008 Demo with 2K miles on it. Option 1 and 2. Would like to know what you guys think is a fair price. My local deal has this and im sure would love to get rid of it before paying taxes on it next year. not sure how its been driven cant imagine its been driven hard once or twice. MSRP is 47K would you say 40K is a reasonable offer. I was planning on getting a new one end of jan or so but might not be able to pass this up. Let me know what you guys think?

jlandbl
12-26-2007, 05:19 PM
Guys - I traded in my 06 GC SRT8 back in Oct. It had 20K miles and had all options except DVD. It was mint and never modded. The dealer did not want it initially. They were worried about being able to sell it due to it being a specialty vehicle. It was a Nissan and Mitsubishi dealer. I knew going in that trade in prices are low but was surprised that they initially said "not interested in the trade." Anyway, you get a tax break on a trade in so I figured the couple of grand there help offset the trade in offer. I got 30K. Funny, they had this car book, can't remember the name but it showed trade in value for my year rig at 28,500. It was this flat rate which didn't even take options or mileage into consideration. It was weird, there was no fine print. Just a book with car brands and models and years with prices next to it.

barho
12-27-2007, 09:31 AM
Just traded my 06 in at a Jeep dealer for $31K. It had a little over 22K miles on it and had the Nav and rear DVD.

Got an 08 Laredo with the 4.7L and the customer perfered package with Boston Accoustics, Heated seats, remote start for 300 under invoice, plus the 0% for 60 months and the $500 bonus bucks Jeeps is offering, PLUS another $500 bucks for a voucher I have for being an Eagles season ticket holder. Paying $315/month.

freeview4you
01-06-2008, 11:17 PM
As I posted 2 days ago I am trying to sell my '08 GCSRT8 with only 1500 miles on the clock. It is an amazing vehicle, but I am more of a car guy. Anyway, my C4S is just as good in the wet and slippery conditions of winter here in NJ.

In the meantime, I can't get a single bite on the Jeep. Dealers don't even want to buy and I have a close friend who runs a BMW Dealership who placed some calls for me. He called 3 Jeep stores, including the store I bought the thing at, and none wanted to buy.

The best trade in number I have found is $35k. This is a '08 Red Rock crystal, MyGig, Package 1, NAV & Backup camera, etc... Stickered for over $45k.

I am both annoyed and shocked that Jeep dealers don't want it.

Any thoughts?

Damn...I want a black one but would look at the red I suppose..I'm in NJ as well..would love to buy a loaded 2008 with 1500 miles for $38K...I'm a Porsche guy as well..duh..

mikeT
01-08-2008, 10:47 AM
I bought a brand new leftover 2007 a month ago for 38,500 out the door.... loaded... sticker was 47,xxx..... had to go out of state to get that deal... they sell pretty fast in south florida!

championjeep
01-08-2008, 11:57 AM
I bought a brand new leftover 2007 a month ago for 38,500 out the door.... loaded... sticker was 47,xxx..... had to go out of state to get that deal... they sell pretty fast in south florida!


What options does it have? Cause with everything possible is 07 the MSRP was around $45,565.

They probably had it marked up to 47k

mikeT
01-08-2008, 12:40 PM
It has everything but the block heater.... they may have had extra mark up on it though...

bridam
01-10-2008, 06:11 PM
As I posted 2 days ago I am trying to sell my '08 GCSRT8 with only 1500 miles on the clock. It is an amazing vehicle, but I am more of a car guy. Anyway, my C4S is just as good in the wet and slippery conditions of winter here in NJ.

In the meantime, I can't get a single bite on the Jeep.
Any thoughts?

One word: Don.

FDNY-L107
01-10-2008, 06:45 PM
Try Ebay. At least you can gauge interest.

HEMI57
01-11-2008, 06:53 AM
has anyone else noticed there are like 20 SRTs listed on EBAY right now?? Why is everyone bailing? Gas?

jlandbl
01-11-2008, 11:06 AM
has anyone else noticed there are like 20 SRTs listed on EBAY right now?? Why is everyone bailing? Gas?

I doubt it's the gas. My 2008 Pathfinder 5.6 gets about the same MPG as the Jeep SRT8. The SRT Jeep MPG is not that much worse (real life) than the 5.7 GC.

TBSSTony
01-11-2008, 08:08 PM
As I posted 2 days ago I am trying to sell my '08 GCSRT8 with only 1500 miles on the clock. It is an amazing vehicle, but I am more of a car guy.

I am both annoyed and shocked that Jeep dealers don't want it.

Any thoughts?

My thoughts are you really should have taken a little more time before you bought the truck in the first place. As others said always be prepared to get raped on trade in the first year. Add to that it's a specialty vehicle with good supply right now and it gets worse. Everyone always boast what monsters their new performance vehicles are when they get them and then claim they were driven by grandma to drop the kids off at soccer practice on her way to church when they need to sell them. Even with only 1500 miles you'd have to be offering a HUGE discount over new to make it catch my eye at all - otherwise with the advantages of buying new and being the original owner it's a no-brainer.