You’re seriously considering buying a Jeep for unparalleled off-roading adventures and family hauling, but in this economy, you’re focusing on affordability and bang for the proverbial buck. So, you’re wondering: do Jeeps have good resale value? The answer is yes — but keep reading for more.
The Jeep Line-up
Right now, Jeep offers the Renegade, Compass, Cherokee, Grand Cherokee, Wrangler, and Gladiator sport-utility vehicles, with various trim levels among them.
Depreciation is basically the rate at which a vehicle loses its value over a given period, keeping in mind that different vehicles depreciate quicker than others. You may have heard that vehicles begin to appreciate the minute it leaves the car lot. Well, that happens to be true, even if no lot’s involved. Devaluation does occur in a new car after a single minute of driving.
In fact, a spanking new ride can lose up to between 15- and 25 percent of its original value in just one year. For example, if you buy a new car that’s valued at $20,000, after five years, that car will be worth just $6,500. That’s a whale of a drop.
The Benefits of Purchasing a Vehicle that Retains its Value
It’s just wise to buy a ride that holds on to its value. The average car buyer unloads their used car after five years of ownership. Economically speaking, it’s smart to buy a vehicle that has dropped less value at that five-year mark than the average ride. And as you can see on the best-used car websites, when the time comes to resell such a vehicle, you can get a sweet deal.
Jeeps and Resale
After three years, Jeeps generally sell for 80 percent of the sticker price. These vehicles simply depreciate at a relatively slower clip.
Consider the always-popular Jeep Wrangler. Not only is it affordable – ditto for many Jeeps – its resale value is nonpareil. That is to say that on the resale front, the Wrangler is the bomb. In fact, after only three years of being driven, the Wrangler can keep around 70 percent of its sticker price. Seventy percent! And after five years of use, the number drops to just under 60 percent. It’s very difficult to find a vehicle that can hit these numbers. This is partly why you see Wranglers everywhere.
Want more? A study of some four million new and used vehicles found that the Jeep Wrangler, as well as the Wrangler Unlimited, depreciate at a slower rate than comparable rides after five years. Toyota’s Tacoma came in third place, followed by the Toyota Tundra, Nissan Frontier, Toyota 4Runner, Chevrolet Silverado, GMC Sierra 1500, Subaru Impreza, and Ram Truck pickup.
Durability, Familiarity and Lifestyle Statement
The chief reason for Wranglers’ and all Jeeps’ slower depreciation is that they’re some of the most durable adventure vehicles out there. After all, these rides are made to take a beating on rough terrain and often under harsh conditions. Jeep hangs its hat on going off-road and, well, surviving. The vehicles also aren’t difficult to repair.
Another reason is that modernizations notwithstanding, Wrangler retains its iconic silhouette. That basic shape is still there, and people love it. It’s there because people love it.
The Jeep brand as lifestyle is another reason. The online Jeep community is vast, and aftermarket upgrades are hot topics in the Jeep space. These mods, in turn, increase the Jeeps’ value.
Also, let’s not forget the offroad superiority that is Jeep’s. If you’re the type to enjoy trails and rock climbing and the like, Jeep simply can’t be beaten. Sure, there are many
other vehicles available than can ably go off-road, but Jeep builds rides expressly crafted with off-roading in mind.
So, do Jeeps have good resale value? And how. So, if you’re on the hunt for an SUV with a dazzling resale value that can take you off-road, then your best bet, by far, is a Jeep. And when you’re ready to resell it, with proper maintenance and perhaps a few upgrades, it wouldn’t be unusual for you to get what you paid for it.