Does Jeep hold its resale value?
Does Jeep hold its resale value?
Posted on March 29, 2022
Jeeps can be a rewarding purchase or sale. If you’re considering purchasing a Jeep, you should first learn how well they hold their value. Depreciation is determined by many factors, which vary from one type of vehicle to another. Because of this, used car prices are lower than their original prices. Jeeps are very easy to sell due to their popularity, but you need to take into account several factors in order to determine how quickly they’ll sell.\
What Year Is It?
There’s a difference in Jeep resale values based on the model year of the Jeep. Often ranked as one of the top vehicles, the Jeep Wrangler is an outstanding choice. While the Compass is superior to its peers, it doesn’t hold its value as well. Some models and years are more popular than others.
Jeep Value Depreciation
Depreciation is another factor that affects the value of the vehicle after serving for a long time. Jeeps are good resale vehicles. Most cars only resell for 40% to 60% after the first three years of ownership, while Jeeps can be resold for 70% after three years of driving. Approximately 60% of the original price of Jeeps can still be achieved after five years. In the first year of ownership, the average vehicle depreciates 20%, then it depreciates 15% every year after that.
How Can Jeeps Maintain Such A High Value?
The reason behind this is that they are highly durable and work well on all kinds of terrain. Throughout the years, the Wrangler has been the most iconic Jeep model. In addition to standing the test of time, it’s also kept its value the longest. When a Jeep is taken care of and maintained well, it can realistically last up to 15 or 20 years and reach over 250,000 miles.
In Comparison With Similar Vehicles, Do Jeeps Tend To Better Hold Their Value?
According to a study involving over four million used and new vehicles, the Jeep Wrangler and Jeep Wrangler Unlimited depreciated less than similar vehicles. In terms of vehicles with the least depreciation in their fifth year, the Jeep Wrangler and Jeep Wrangler Unlimited occupy the top two spots comfortably.
In addition to being very tough on the road, these two models last longer than most of their competition. While it may seem like a Jeep that's used to tackling hills and rough terrains wouldn't be as valuable after a few years, that's not the case for this popular brand.