In the world of SUVs, Jeep is an old name. Particularly Jeep’s Grand Cherokee is considered one of the best in class and has a strong fanbase. However, like any other vehicle, it has its own resale market.
So, do Jeep Grand Cherokees hold their value? It actually depends on the model, features, how many years it has been used, mileage, and overall condition of the car. However, the Grand Cherokees have a lower resale value than other companies’ SUVs.
Nonetheless, if you wish to hold a good resale value for your vehicle, then today’s your lucky day. In this article, we will cover the factors affecting the resale values of Cherokees and more that you don’t want to miss out on!
The Estimated Resale Values of Different Models of Jeep Grand Cherokees
Depending on conditions, and models, the resale value of Grand Cherokees can vary. Here is an estimated list of resale values for different models of the Cherokee.
|Models||Market Price (New)||Estimated Resale Value|
|Laredo||43,000$ – 59,000$||8,000$-50,000$|
|70th Anniversary Edition||58,500$-63,500$||11,000$-16,500$|
|Night Eagle Limited Edition||58,450$-66,950$||50,000$-90,000$|
|Limited Grand Cherokee||55,000$-69,950$||11,000$-88,500$|
|75th Anniversary Edition||64,500$-71,500$||31,500$-55,000$|
Do Jeep Grand Cherokees Hold Good Resale Value?
They do but when they aree compared to other SUV companies, they fall a little short. For example, their Asian counterparts like Toyota, Nissan, and Mitsubishi have a much higher resell value. Once the SUVs are out on the road, their values can drop by almost 40%.
Also, Jeep Grand Cherokees have a user experience that is flawlessly good while also being quite bad. Thus, the customer experience can vary from one person to another significantly. And this is one of the many reasons why they have a bad resale value compared to other SUV models.
One of the bad user experiences includes engine failure of the Cherokee model. However, the chances of encountering them are 50/50. Thus people who are lucky end up with a good overall experience.
Aside from that, many Cherokee owners also complain about transmission issues, electrical trouble, and software glitches. That is why many people avoid second-hand Grand Cherokees.
Furthermore, SUVs, in particular, will have off-road driving hours too. For this reason, they might have damage underneath, suspension problems, etc. That is one of the causes why SUVs, in general, have a bad resale value.
On the contrary, limited editions like the Trackhawk and S-limited can have a resale value that is 130% -200% of their original value.
Conditions that Ensure a Good Resale Value
Grand Cherokee has many models, and most of them are out of production. So, many of the models have collector value. For example, Laredo had a selling price of $59,000 in 2011. If the condition is good, they can still be sold for $50,000. Retaining almost 85% resell value.
By good condition, the paint job needs to be untouched. All the plates need to have the same shade. So, the original paintjob needs to be maintained. Scratches can be one of the most common reason why a car’s resell value might fall. That is also the same for Cherokees. Also, if any alterations have been made to the vehicle, they must be of top quality and fitted well.
Then all the power windows, power door locks, power mirrors, etc., need to function properly. For the inside of the car, the interior, the leather seats, the dashboard, and the infotainment system need to be in decent condition. Lastly, the engine, suspension, and transmission need to work without any hiccups.
If all these conditions are met a Cherokee or even any other car model will get a decent resale values. The criteria are same for any cars.
Do Limited Edition Grand Cherokee Always Have a Good Resale Value?
Limited edition means a higher resale value but the condition also matters for limited editions as much as the normal models. However, they can fetch a good price sometimes even if the condition is not up to mark even. Though, that depends on the availability of the model in the second-hand market.
Limited editions such as Limited Grand Cherokee, S-limited, Overland, SRT, and Trackhawk they can be sold for 80% to 200% of their original value. So, in terms of limited editions, these models, in particular, will have a good resale value. That means few Grand Cherokee limited editions guarantee better value retention.
For a quick recap, do Jeep Grand Cherokees hold their value? They do but it depends on the model, mileage, the years used, and the overall condition of the car. The limited edition models will have a better resale value, but compared to other SUVs, it is low.
If you have gone through the article, you know what affects the resell value of a Grand Cherokee. Also, how to make sure it can have a good resale value even after years of use. So, take care of your Cherokee, and when it is time to let it go you will not be disappointed.