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Smart Shopper Real-World Trade-In Values
38942 messages, Last post on Dec 02, 2009 at 6:53 PM
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2006 Jeep Commander 2wd Limited package (top of the line) no nav or dvd mid level 4.7 V8, not the hemi, black exterior, light taupe leather interior no accidents, minor blemishes repaired by mobile touch-up guy 30,500 miles South Carolina I asked about this around the 8th of June and you said wholesale of 12-13k. Chrysler Financial says they can get 16,770 at auction and my buyout is only $10 more at 16,780. Are they full of it or did you price a lower end version at 12/13? Dealer asking prices in my region seem to be 19-21k for comparable vehicles. If I can buy it out and sell it myself and pocket a grand or so, I might give it a try. Will this vehicle bring enough in a private party transaction to make it worth it? Lease ends at the end of September so I have time on that but the tag expires 7/31. I would get most of the money back as a proration when I return the plate but I have the additional cost of insuring a vehicle that I don't need anymore and the aggrivation of having too many vehicles in the driveway. I can turn it in now, pay the $425 return fee plus the 2 remaining lease payments for a total of $1198.xx. This represents a small discount on the 2 remaining $463.xx lease payments. (1351 vs. 1198) So....it seems if turning it in and walking away is the answer, then it is to my advantage to do it now rather than later. Buying it out will most likely include a $300 (max) state sales tax that I would have to pay before transferring it to a new owner that I would have to figure into the transaction. Buy it or walk away? Thanks
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Wife would kill me if I did n e thing right now. Going up to Orlando Saturday to bring my kid back home from her internship so I'll see how my pillow on the seat set up works. It's 2 1/2 hours each way and I'll be driving alone so I'll see how the Civic seats feel. If no issues, then I'll definitely keep it and wait a bit. Getting another small inheritance within the next two months...finally, so I'll have the $ to buy anything outright, even a RX350 which would be cool. Those seats are phenomenal. Can just imagine the look on her face if I drove up in a new RX...priceless! So I'll be in this holding pattern for awhile yet. The Sandman  
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Replying to: traindriver (Jul 08, 2009 6:51 am) I would absolutely not base the decision on what Chrysler Financial "says" they can get at auction. Paying $16,780 for a V8 Chrysler SUV w/30K miles--to try to make only $1K-- seems like a poor gamble. My amateur guess is you'd be lucky to break even......& that potential buyers may really try to beat you down on this one......
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Replying to: sandman_6472 (Jul 08, 2009 8:58 am) |
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Replying to: woodyww (Jul 08, 2009 10:05 am) You are probably right, but I am curious as to the wide discrepancy with the auction prices given by volvomax vs. Chrysler Financial. I was expecting much less than the 16,780 figure. I thought vmax was probably dead on until CF threw this curve ball. Now I am confused a bit. If indeed 16.8 is too high, then there are a ton of dealers in the region smoking something good by asking 19-21 for comparables. My brother in law was interested at volvomax's estimate of 12-13 but not at CF's. At any rate, I absolutely don't need nor want it so it may best to walk away..... BTW, two different lease end reps have stated the 16770 auction value... They both seem to genuinely believe that this is a good buyout. I am not yet convinced. |
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Replying to: traindriver (Jul 08, 2009 12:24 pm) My advice--end the lease immediately..Not worth paying even 14k for the Commander which has really outdated technology and lot of quality and reliability problems.. Once Jeeps cross 50k mileage ,they tend to be very problematic and high maintenance and it`s not worth the risk at all. Just MHO.
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Replying to: traindriver (Jul 08, 2009 12:24 pm)
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Replying to: stkntraffic (Jul 08, 2009 2:36 pm) ********************************************************************************- ********* I totally understand the difference in residual (set almost 3 years ago) and current market. A helluva lot has happened in the automotive market since 9/2006. The residual is 16,780.80 per the original contract. However, two reps are telling me that the current auction value is 16,770 --- about ten bucks less than the residual. Personally, I think that is high like the rest of you who have commented. If they are really getting this number from some generous auction where DCX vehicles bring "all the money", then more power to them but it will not be from me. I am simply curious as to who is wrong on their figures here. I have pretty much decided that I will turn it in but I would like to have some basis of fact before call CF's hand on the discrepancy. I prefer to *know* I am right before I open my big mouth and have to eat crow.  Only volvomax's "reappraisal" and/or some current Manheim figures will tell the tale. If CF is indeed wrong, I want to know why they are putting out bogus info. Is it that they really think they can get 16770 OR are they trying to pull a fast one????? Inquiring minds want to know.
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Replying to: deltheking (Jul 08, 2009 12:47 pm) Oh yes, del, I know that I am lucky that I leased instead of bought this SUV. Leasing (vs. buying) this particular car was one of my better car buying decisions, as I buy what *I* like and not what CR likes, Car & Driver likes, what holds its value well, what is "cool" at the time, etc. and lot of quality and reliability problems.. I haven't had anything really major go wrong with it. The auto-dimming mirror software had to be "reflashed" on delivery and I had a power window that would stop midway requiring you to release the switch and press again to get it to finish going up or down; also "reflashed." The ambient temp display will occasionally give an obviously incorrect reading like 67 degrees when it is 95 degrees. Other than that, just oil changes. Certainly nothing that affected driveability or safety. IIRC, electrical issues was one of the low points in CR's evaluation. |
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Replying to: deltheking (Jul 08, 2009 12:47 pm) Wrangler my parents had was bullet proof in every way. Original Cherokee I had that I bought from my parents also nearly bullet proof. Only two non-maintenance repairs I can think of were a rear main seal replaced near 100,000 miles and a locked up AC compressor at about 150,000 miles. The 98 Grand Cherokee I have now has also been very solid at nearly 160,000 miles. I put a water pump in it recently but it was the original pump so I think over 10 years and 150,000 miles for a water pump is pretty good. Sure I have met people who had problems with their jeeps but every brand makes a handful of bad vehicles. Jeeps, especially those with the 4.0 inline six are usually pretty solid vehicles. I would still dump that commander just turn the lease in. That is a dead model that never sold well and will be a hard sell privately.
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