Various qualities make a good car. One of which is reliability which is determined by its resale value. Jeep is among the brands with reliable vehicles that maintain their resale value.
But why do jeeps hold their value? Jeep vehicles are well-built and perform exceptionally on and off-road. Also, the considerable Jeep fan and numerous forums contribute to the resale value by building confidence.
The article provides an in-depth analysis of the Jeep’s high resale value and what contributes to it, so read on.
Jeep Models And Their Resale Value
Most Jeep models retain their value over many years of regular use. However, not all models do so, as the value of some depreciates much faster. The following table shows different models and their resale values.
|Model||3 Years||5 Years|
Why do Jeeps Hold Their Value?
Since the mid-20th century, when Jeep cars began production, it has been an outstanding off-road vehicle. This brand is not only known for its quality performance off-road but also its reliability.
But what catches the attention of most people is their resale value. The vehicle’s value depreciates much slower and may lose as low as 20% of its original value after five years of use.
The Jeep Wrangler is the model that retains its value best compared to other makes. In 2018, the model won the ALG residue award; an award is given to models that maintain their value.
Also, it’s not once the value of an older model has almost surpassed that of a newer model. For instance, the starting price of the 2023 Sahara trim is $44,000, while a used 2021 is $40,800.
These facts often lead to the question, why? Following are the various reasons Jeep cars hold their value.
1. Great Off-road Capabilities
The jeep was initially made as an agile military vehicle and used in the world war. This vehicle got more and more features through the years that followed, improving its off-road capabilities.
Some models are fitted with command Tac 4×4 systems that improve their off-road performance without needing other upgrades. Other features that contribute to their offline capabilities include
- Heavy-duty sway bars
- All-terrain tires
- Steel-made skid plates and rock rolls
- Great height and ground clearance
2. Great Aftermarket Support
Jeep has a tight-knit and large fan base with people willing to help any new member. There are also numerous forums where most people report problems and solutions provided.
This support gives new and current users the confidence to Keep using the brand. Besides the fan base, the brand has active customer service and roadside assistance.
3. No Much Changes Over The Years
Another reason JeJeep cars maintain their value well because new models don’t differ much from the old ones. Unlike other manufacturers, Fiat Chrysler doesn’t add new features to every new model, which makes them almost alike.
While this may seem like a disadvantage, this lack of major changes makes it easier for customers to buy an older model. For some, there’s no need to buy a new one at over $35,000, while you can get almost the same vehicle for $5,000 or $10,000 less.
4. There are Only a Few Made Annually
According to carsalesbase.com, the number of jeeps sold in 2016 was 929,446 and 778,711 in 2021. There are many reasons for the drop, including discontinuation.
However, this means some people who aimed to buy the new model didn’t get a chance to do that. This scenario forces these people to opt for an already-used car which increases their demand
How do Jeeps Compare With Other Brands In Value? While Jeeps are exceptionally good at maintaining their value, one can’t help but wonder how it compares with other brands. The following table contains the top ten vehicles that retain their value better, according to research by iseecar.com in 2022.
|Brand||Depreciation in five years|
|Jeep Wrangler Unlimited||8.7%|
Jeep Wrangler holds the top two spots, and its depreciation value is around four times lower than an average car. Toyota is the next major brand with vehicles that retain their values.
How You Can Help Maintain a Jeep’s Value
While the vehicle is popular for maintaining its value, there are things that owners can do to help retain its value.
- Regular Cleaning
Like other vehicles, Jeep cars need regular cleaning to keep their value. As an off-road vehicle, the car can get clogged with mud. If not serviced soon, it may develop problems that may depreciate its value.
- Tire Servicing
Any car driven off-road requires regular tire servicing and alignment. Rotate the tires between the wheels to keep the wear even.
- Regular Oil Change
Oil is among the factors that affect most car values, as a lack of it can cause expensive repairs. Ensure the vehicle gets the oil changed as frequently as possible, depending on how often you drive it.
- Do Servicing on Time
Do not sit on any problem as it can lead to more problems and repair soonest. Also, take the vehicle to regular maintenance servicing on time.
As several research shows, Jeep, especially the Wrangler, has high value. Several things contribute to this high value, all of which are discussed in the article. Also, a table in the article shows how various Jeep models compare with other brands.
If you own a Jeep, you know you have a reliable car that may sell close to its original buying price. However, there are various things you can do to help your car retain its value. Most of them involve taking care of the vehicle through maintenance and servicing, some of which you can do at home, like an oil change.