After three to five years of ownership, you can resell your Jeep for 60% to 70% of its original value. However, other factors like your Jeep’s mileage, condition, and market demand must be taken into account to get a full picture of your vehicle’s worth.
One thing is certain about Jeeps: they are built tough. They can handle unpredictable conditions on and off-road, which makes them a dependable choice that has built a loyal following for many decades. Maybe the time has come for you to part ways with your beloved Jeep and it’s important to evaluate the resale value of your vehicle
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What goes into determining my Jeep’s resale value?
You and your Jeep have probably been through a lot together, from daily commuting to off-roading camping trips. It’s crucial to think back on how you’ve handled your vehicle to help you calculate your Jeep’s resale value. Many factors must be considered, like the following:
Depreciation: The moment you drive out of the Jeep dealership, the value of your vehicle depreciates. Jeeps are known to hold their resale value, and certain models can depreciate up to 35% after five years.
Mileage: Your vehicle’s mileage can impact its condition and if you go past the 100,000-mile mark, you might have difficulties during the resale process. Try to maintain a limit of 12,000 to 15,000 miles per year on your vehicle.
Accident history: While accidents are not always your fault, they can affect your Jeep’s resale value. Even after fully repairing your vehicle, its value can drop between 15% and 30% after an accident.
Model popularity: Do you have a
Jeep Wrangler? You’ll have an easy time selling this popular Jeep model as they tend to maintain their value due to high demand in the market.
Interior and exterior conditions: Are you properly caring for your Jeep? The newer your vehicle looks, the more profit you might end up seeing. Any type of obvious dents, dings, or neglected repairs will negatively affect your car’s value.
Resale value vs. trade-in value
trade in your car or resale it? A trade-in, as the name implies, involves trading in your used car to a dealership for a certain amount that will be used against a new car purchase from the dealership.
On the other hand, reselling your vehicle can often lead to a greater reward, but it will likely take extra work on your part if you want to do a private sale or sell your
used car on Autotrader or other site. Dealerships can provide feedback on how to get your Jeep up to standard, but you’ll still need to figure out how to spruce up your car before you try to resell it.
What is the MSRP of my Jeep?
Before diving right into a resale or trade-in—you need to know the original MSRP of your Jeep.
Kelly Blue Book has a great
price guide that you can use to identify your Jeep’s MSRP to have a better understanding of where your vehicle stands from a price viewpoint.
Key Takeaway It’s vital to know your Jeep's worth based on its MSRP, physical condition, accident history, age, and specific model before reselling your vehicle.
How does wear and tear affect my Jeep’s value?
When determining the resale value, your car’s physical condition is one of the most important factors. And it’s also something you have complete control of! Follow Jeep’s recommended maintenance schedule to optimize your vehicle’s resale value. This will help you prevent your Jeep’s value from taking a massive hit.
Generally, your vehicle’s value can be reduced by $2,500 for every $5,000 you spend on repairs caused by an accident or other factors. Whether you decide to sell your car on your own or as a trade-in, you should consult
Jeep’s service schedule to make sure your Jeep holds its value.
How to calculate the resale value of your car
While the condition of every Jeep model will be different, you can still estimate how much it compares in terms of resale value. Here’s a
helpful tool to use to calculate your vehicle’s worth.
If you want to get a general idea of how your Jeep stacks up to other models, you need to establish the depreciation value. Currently, Car Edge rates the Jeep Wrangler as one of the top performers when it comes to keeping its value over the long term—depreciating by 35% after five years with a resale value of $28,235.
Bear in mind that the model year can play a huge role when determining your Jeep’s resale value, as well as other important factors like your vehicle’s condition and mileage.
The bottom line: is my Jeep worth reselling?
Now that you’ve determined your Jeep’s MSRP, mileage, condition, and depreciation, what’s the verdict? If you bought your vehicle within the last three to five years and it’s in great physical condition with less than 15,000 miles on it per year, you will likely get a considerable payout in a private sale.
If your Jeep doesn’t meet these criteria, you may want to think about making some improvements to your vehicle to get the most value out of it before a resale.
How to prep your Jeep for resale
Regardless of your situation, if you want to resell your Jeep, make sure you’re getting the most value you can from it. Before reselling it to the new owner, follow these steps first:
Get your car detailed beforehand. Now is the time to impress! Clean every nook and cranny of your Jeep to give it that new-car look to draw potential buyers in.
basic car maintenance done. This includes getting your vehicle’s oil changed, tires rotated, and alignment balanced before you put the sale sign up on display.
Gather all the original parts. Round up any manuals, keys, and accessories that came with your Jeep when you first brought it home. They must go with it to its next owner.
Prioritizing ahead of time will position you to get a sizable return on your investment. It will also make the new owner feel more confident that you took great care of their new Jeep.
Finding cheap Jeep insurance
So you’ve sold your beloved Jeep, now what? Perhaps you decided to purchase a brand new model or maybe you’ve just decided to go with a whole new manufacturer. Either way, it’s important to protect your new investment with car insurance—and
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