Renegade's Resale Value is Extremely Poor...!!! - Jeep Renegade Forum
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post #1 of 110 (permalink) Old 10-08-2016, 06:31 PM Thread Starter
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Renegade's Resale Value is Extremely Poor...!!!

Hey, everyone. I bought a 2016 Jeep Renegade Latitude 4X4 9-Speed Automatic back in June. The MSRP was 29.5K and I paid 26K before tax/title/reg/doc. With only 7000 miles on it, I decided that I wanted to trade it in because I could no longer live with the transmission and the limited cargo space. Also, driving as conservatively as possible, the best tank I've gotten is 27.5 mostly highway. Hand calculated it. Anyway, I love the looks of the Renegade, I needed something a little bigger and more refined, so I looked at the Mazda CX-5 and Honda CR-V... the Mazda dealership was only willing to give me $16,500 for my car while discounting the CX-5 by only $1,500?!? Things were worse at Honda... $15,000 for my Renegade and a meager $1,200 off of the BASE CR-V LX AWD. These were FIRST and FINAL OFFERS. I didn't even get to play the "I'll go somewhere else" game.

WHAT?!?!?!

Has anyone else tried to trade their Renegade in? What kind of numbers are you seeing?

Last edited by FloydTBE; 10-08-2016 at 06:34 PM.
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post #2 of 110 (permalink) Old 10-08-2016, 06:38 PM
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Just check autotrader. It is really bad. The only reason I bought mine new is because I am going to drive it until it goes to the junk yard.

Relatively speaking though a $10k drop is not as bad as some others. Check the prices on a 1 year old luxury sedan (5 or 7 series BMW, Mercedes, etc...) vs new.
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post #3 of 110 (permalink) Old 10-08-2016, 06:41 PM
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We also own a CX-5. Same story. $36k for a loaded grand touring. Two years later I saw one used at CarMax for $19k. Private party resale is even worse. Is this the first new car you have purchased?
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post #4 of 110 (permalink) Old 10-08-2016, 06:43 PM
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All that in your first post, why would i trade it in, we love our jeep renegade. By the way it's not a car---believe me!!!!!!!!!!!!!!!!!
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post #5 of 110 (permalink) Old 10-08-2016, 07:05 PM
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You should have checked cargo capacity as your 1st shopping point. Would you think trading in less than a year old vehicle would give you back the amount you paid or something? Depreciation is a integral part of new cars, but like GSO_Kyle said, theres worse out there. If you wanted a fuel efficient 4X4 you got it. For example, I paid about 32k on my fully loaded TH. I looked at BB a month ago and laughed. but I also knew what I was buying, and am not looking to trade it in less than 4-6 years. Also I get 21.9 mpg if Im lucky, and if I do get highway travel, my BEST was 25.8.

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post #6 of 110 (permalink) Old 10-08-2016, 07:49 PM
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I bought the new Jeep eyes wide open knowing the depreciation could be £1,000 a month in the first year (hence risk negative equity at first), and get better thereafter. It's the same with all new vehicles though, just different is how bad it is. If I wanted lower depreciation would have got second hand. But I bought new to get the full warranty, full tax and longer time until MOT is due. And also as I like to be the first and only owner, and know all its details (good or bad) - nothing worse than buying a second hand to realise it had faults that the prior owner would have known about - learnt that lesson when I was young. At least if there's any faults I get them fixed on my terms and using the warranty. In line with @GSO_Kyle I hope I never have to trade it in (nor scrap it!). This ones a keeper and hope to pass down the family, as I got the 75th version and hope it will be wanted in the future.

Sorry it's hard for you to get out of. People who hold these Jeeps until they are paid off will get some residual value, but not going to happen in a few months. The trouble is with trade in is the dealer have to make a profit on it too, and they risk not selling them due to excess stock and people wanting new vehicles, so the dealers are never going to offer a fair market value and could be ultra cautious. The fair market value is almost certainly more than what they offer.
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post #7 of 110 (permalink) Old 10-08-2016, 08:20 PM Thread Starter
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Originally Posted by txjeeper35 View Post
You should have checked cargo capacity as your 1st shopping point. Would you think trading in less than a year old vehicle would give you back the amount you paid or something? Depreciation is a integral part of new cars, but like GSO_Kyle said, theres worse out there. If you wanted a fuel efficient 4X4 you got it. For example, I paid about 32k on my fully loaded TH. I looked at BB a month ago and laughed. but I also knew what I was buying, and am not looking to trade it in less than 4-6 years. Also I get 21.9 mpg if Im lucky, and if I do get highway travel, my BEST was 25.8.
I thought the cargo capacity would be enough until I loaded it w/ camping gear (I go glamping, so I bring a ton of stuff). Not a huge issue, but the transmission is. Also, the fuel economy is unacceptable in how much off it is from the EPA rating. I really baby the gas pedal and don't go above 60 on the highway.

As far as depreciation, obviously I expected to take a hit... but not a MASSIVE one. I was expecting 20K and probably would have settled for 19K. The tumble would have been $9,500 (Mazda) or $11,000 (Honda). My friend traded in his 2015 Subaru Impreza 2.5i base hatchback with 15K miles that he paid $19,500 for from an MSRP of $20,700 and got $17,500 to get into a 2016 CRV LX AWD. That's only a 2K loss from what he paid for the car almost 2 years ago. He's the reason I wanted a CRV because I drove it a few times and loved the livability of the CRV (quiet, refined, real world MPG of 33 on the highway).

I can't deal with this transmission anymore... they've reflashed the ECU or whatever controls the engine and it has fixed nothing. Sometimes when I go from reverse to park, there's a 2-3 second delay before it moves. This can be dangerous in certain situations. Also, the AC wasn't very cold (my dad's last generation Cruz blows frigid temps) and it really taxes the engine.
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post #8 of 110 (permalink) Old 10-08-2016, 08:39 PM
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Follow your heart!
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post #9 of 110 (permalink) Old 10-08-2016, 08:45 PM
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Follow your heart!
Usually at a loss to your wallet.
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post #10 of 110 (permalink) Old 10-08-2016, 09:08 PM
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My first offer for my '15 latitude with 17,000 miles was $17,500
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