Chrysler Resale Values Drop 6% In One Week After Bankruptcy Filing [Archive] - Cherokee SRT8 Forum

: Chrysler Resale Values Drop 6% In One Week After Bankruptcy Filing


Administrator
05-14-2009, 11:13 AM
http://www.autoguide.com/gallery/d/19951-4/DG009_042CL.jpg

According to Automotive Leasing Guide, the resale value of a Chrysler vehicle dropped six percent in the week following the company's Chapter 11 bankruptcy filing.

In just seven days the uncertainty about Chrysler's future crept into the marketplace in a very real way, damaging the resale values for Chrysler, Dodge and Jeep products almost equally.

Prior to the bankruptcy filing a three-year old Chrysler was worth 34.8 percent of its original value. After the filing, that amount dropped to just 28.8 percent.

The value of a three-year old Dodge went from 37.3 percent to 31.2 percent and three-year old Jeep vehicles declined in value from 38.4 percent of the original purchase price to 32.4 percent.

The news isn't good for those who recently purchased a Chrysler vehicle and as the declines are based on percentage they can take a significant toll on pricey models like SUVs or the Challenger SRT8 pictured above.

In comparison, a three-year old Toyota retains 45.5 percent of its original value.

More: Chrysler Resale Values Drop 6% In One Week After Bankruptcy Filing (http://www.autoguide.com/auto-news/2009/05/chrysler-resale-values-drop-6-in-one-week-after-bankruptcy-filing.html) on AutoGuide.com

Vinnysrt8
05-14-2009, 11:15 AM
wow that stinks......

LonghornSpencer
05-14-2009, 11:19 AM
Not good but mine's not for sale anyway...On the other hand if you are looking to buy now is the time. Prolly get some killer deals on new ones I bet

Razorecko
05-14-2009, 01:15 PM
ouch, glad i got rid of mine when i did. I just noticed the trade in value would have been $2k less after the bankruptcy filing

ChimRichalds
05-14-2009, 02:23 PM
We have a niche vehicle so in that regard the resale on Jeep SRT8's will not be that bad. It will really be driven by gas prices.

BlackJeepSRT
05-14-2009, 02:24 PM
Oh no! :eek: How are the dealers going to the sell the Challengers with their
added "Adjusted Market Value" now? ;)

a990dna
05-14-2009, 07:56 PM
Oh no! :eek: How are the dealers going to the sell the Challengers with their
added "Adjusted Market Value" now? ;)

How would you like to be the guy that paid ~$80K for his black 2008 Challenger SRT8? ... number 666? right here in SoCal.

yep, $35K dealer markup. :indifferent:

Wandering Scot
05-15-2009, 06:59 AM
I'm in disagreement over the percentages they are using.
2 cases in support:

1) I just sold my wife's 2005 Jeep Liberty Limited.
It was bought in late '04 and had 63,000 miles.
It's in good shape as we take care of our vehicles but far from a "cream puff".
We got NADA book of $12,900.00 for it, which is a little better than 48% of the purchase price we paid for it. This is a 4 year old car, so it's actually 1 year older than their data point.

2) My 2007 Dodge Ram 3500.
While checking out car prices the other day, I checked on what my truck has been going for on the open market.
From data I got from both what the used car guys were saying they werer going for and what the trucks were advertised by private owners for, my truck is selling for around $35,000 or about 64% of what the sticker of $54,000 was.

I highly doubt you will see $10,000 2009 RT Challengers or $15,000 2009 SRT8 Jeeps 3 years from now. Make sone wonder what the motivation is behind the people who publish irresponsible "so called info"......

BOYCHIKS
05-15-2009, 07:43 AM
Luckily I plan on keeping mine for awhile!

Razorecko
05-15-2009, 09:39 AM
yea you'll see a drop in price or demand but it will never go below the point of the solid value of the vehicle.

sy1616
05-15-2009, 10:43 AM
Who cares....just keep it! :)

Three Oh Diesel
05-15-2009, 11:25 AM
The CRD is still holding about 25k... How long does it take to trickle down to market from analyst speculation?

brianm
05-15-2009, 01:59 PM
i bought mine last year for 42K , its valued at 20k now ,

abqhemi
05-23-2009, 05:54 AM
I plan on keeping my durango till the kids get to highschool and the Magnum I'll never sell. Now I just hope the prices drop some more so I can squeeze a GCSRT8 in the garage for a fraction of what I was paying.

thesrt8
05-25-2009, 10:23 AM
Resale doesn't really matter because ALL prices have dropped. It's just like housing. Yours might be worth less, but so is the car you're going to buy. So it almost all works out (or all works out) at the end. I wouldn't get too worked up about it.