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Discussion Starter · #1 ·
UGH is all I have to say. I have been waiting for KBB to allow search for Jeep Renegade trade-in value now that 2015 Renegades can be considered "used." Mine dropped $3000 in value from the purchase price I paid back in June. Lost more value than I thought it would. I am was kinda playing around with the idea of upgrading.


UGH...
 

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New car depreciation is rough. If it makes you feel better, yours dropped less than my trailhawk. Both dropped less than the cx-5 I was cross shopping had I purchased it and had it in the same condition. My th dropped about the same as my co worker's forester bought about the same time.

I don't think the renegade is getting hit too hard.
 

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KBB is just a guide. Your car is worth what someone will pay for it. But if you are a buyer and the gap between new and used is too small you might as well buy new.

Why do you want to sell so soon anyway?
 

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Discussion Starter · #4 ·
Hey Malcom, I am thinking about upgrading. I bought a Sport back in June when there was not much to chose from and I would really like the Uconnect with Bluetooth and the computer, and also the cold weather package with heated seats and remote start. I am in Massachusetts. Plus I have a new job within my company and can afford a little more payment. I am thinking the end of the year might be the time to try and negotiate a good deal.
 

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Hey Malcom, I am thinking about upgrading. I bought a Sport back in June when there was not much to chose from and I would really like the Uconnect with Bluetooth and the computer, and also the cold weather package with heated seats and remote start. I am in Massachusetts. Plus I have a new job within my company and can afford a little more payment. I am thinking the end of the year might be the time to try and negotiate a good deal.
I used to live in Boston so I understand your need for the cold weather options (and 4WD was useful in the snow). Now I'm in California and the cold weather group was an option on mine that I didn't want but everything else was perfect so I went for it. If I could sell you my heated seats I would :). If I were you I might tough it out for another winter or two. Then at least you will have got some usage out of it, which might make the depreciation a bit easier to take.
 

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I've always said that buying a new car was not a smart investment. As soon as you drive it off the lot, you are throwing $3,000 out the window. A used car is always worth less than a new one of course, and as soon as it is considered used, it drops in value. That being, the TH is the first vehicle I'm currently in the process of negotiating with dealers to buy new. I haven't pulled the trigger yet, but expect to have my order in by the end of this week hopefully.
 

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Hey Malcom, I am thinking about upgrading. I bought a Sport back in June when there was not much to chose from and I would really like the Uconnect with Bluetooth and the computer, and also the cold weather package with heated seats and remote start. I am in Massachusetts. Plus I have a new job within my company and can afford a little more payment. I am thinking the end of the year might be the time to try and negotiate a good deal.
To maximize your value you should really wait until your car is one year old since the depreciation will essentially be the same. At that point you would be able to trade for a 2016 which would probably have incentives so you would win both ways. It is always costly to trade in a car under one year old.
 

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UGH is all I have to say. I have been waiting for KBB to allow search for Jeep Renegade trade-in value now that 2015 Renegades can be considered "used." Mine dropped $3000 in value from the purchase price I paid back in June. Lost more value than I thought it would. I am was kinda playing around with the idea of upgrading.


UGH...
This shouldn't come as a shock. It's the norm. If you drove off the dealer lot and turned right around to trade it, that is how much you'd expect to lose.

This is why unless a brand new car is so cool that I can't wait a few years, it's always better to buy slightly used (30k or so on the clock). Let someone else take the depreciation so that you are less likely to be upside down.
 

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Discussion Starter · #9 ·
Yeah, I get it, I truly do. I was thinking of getting remote start installed for bad weather winters here in New England, then also researching a back up camera install maybe the mirror kind, now I am looking at $5-600 bucks, and I started thinking that instead of putting that money into it, perhaps I should look into flipping the Sport Model, to a Latitude. It seems the prices have come down a bit since June, and people are walking away with pretty good deals now. Add the end of the year numbers that dealers have to make and well maybe I could score a good deal, worth my while to flip it now.


Also, the idea of paying monthly, and then starting over in a year, will make it a total of 6 years of car payments, rather than 5. I like to keep vehicles 8-10 years if possible. So its a matter of paying a car payment for 6 or 7 years, OR coughing up a little more dough now to have all that I want.


So, I will either flip it now at the end of the year, or hold on to it for a year or so, make extra payments, so some equity will be there next year. I won't know until I try right? The posting was really to let folks know that more info and statistics of the Renegade are available on line now, specifically on KBB.
 

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A new car isn't as a bad of a deal as many make it out to me.

For most people, in the long run, will a 'used' car be cheaper than a new car? Probably. But the difference is much closer than many think....certainly to the point where those who say "I would never buy a new car and anyone who does is stupid"...well, those people don't really look into things.

Buy a brand new 2015 vs a 20,000 mile 2014 for example? You are going to save some money, but if you buy it from a dealer (the used one) the savings may not be as big as you think.
Then think of things many others don't:
-The tires have 20,000 miles on them and may be 50% or more closer to a new set than with the new one.
-Same as above goes for brakes, wiper blades, rotors....and anything else that needs regular service.
-When you buy new, the vehicle IS 100% in perfect condition. Almost all used vehicles have some wear and tear on the body (A ding here, some swirl marks in the paint there, some chips in the windshield, etc.)

Basically, you ARE going to take a bit hit of depreciation in the first year, but that hit may not be as big as you think compared to trying to buy a 1 or 2 year old vehicle used from a dealer.
 

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Every car depreciates, new and used, except for collectible cars and cars with little or no value. If you are concerned with how much a car depreciates then you should buy the cheapest car possible. If you buy a $10K car the most you can loose is $10K. If you buy a $50K car the most you can loose is $50K. If you buy a $10K car from a dealer and drive it around the block and want to trade it in do you think you're going to get a full refund? Unless the dealer has a money back guarantee within so many days; the dealers like to make money on every transaction so in order to sell your car again for the same price you just paid for it the dealer would have to offer you less.
 
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