Chrysler Resale Values Drop 6% In One Week After Bankruptcy Filing
According to Automotive Leasing Guide, the resale value of a Chrysler vehicle dropped six percent in the week following the company's Chapter 11 bankruptcy filing.
In just seven days the uncertainty about Chrysler's future crept into the marketplace in a very real way, damaging the resale values for Chrysler, Dodge and Jeep products almost equally.
Prior to the bankruptcy filing a three-year old Chrysler was worth 34.8 percent of its original value. After the filing, that amount dropped to just 28.8 percent.
The value of a three-year old Dodge went from 37.3 percent to 31.2 percent and three-year old Jeep vehicles declined in value from 38.4 percent of the original purchase price to 32.4 percent.
The news isn't good for those who recently purchased a Chrysler vehicle and as the declines are based on percentage they can take a significant toll on pricey models – like SUVs or the Challenger SRT8 pictured above.
In comparison, a three-year old Toyota retains 45.5 percent of its original value.
I don't know where they are coming up with these numbers, are they wholesale prices? 30% of a 2006 SRT8's $45,000 MSRP would only be $13,500 and I have not seen any priced close to that, current resale value is more like $20,000 - $23,000.
I don't know where they are coming up with these numbers, are they wholesale prices? 30% of a 2006 SRT8's $45,000 MSRP would only be $13,500 and I have not seen any priced close to that, current resale value is more like $20,000 - $23,000.
Keep in mind this is an average of all the dodge, chrysler vehicles, not just 300s. 300s have held their values better than some of the other vehicles. I've seen 2008 pt cruisers for like 10k.
Personally, I'm not at all bothered by the resale value, since I intend to drive my 300C until it is worthless anyway. Besides, everyone knows that cars are depreciating assets and not investments (with few exceptions), don't they?
If you want maximum value from an automobile, buy one that is two or three years old and drive it until it costs more to maintain than to replace. Alternatively, if you want to drive something brand new every few years, accept that you will lose money, and enjoy it.
I have been a member of this forum since I bought my 300C in June 2006. It was new and I was so excited. I still love the car, but have had all of the front suspension ratteling. Have had terrible dealer maintenance and spent hundreds of dollars to fix the issue with no satisfaction or success. BUT, I still love the car, now have 53,000 miles with no problems other than front suspension. It rattles and shakes and I turn the stereo up. I love the car, but now it isn't worth a third of what I paid for it and I did 100% financing. So it is worth 2/3rd of what
I owe now. That means I will have to drive it until it quits.
Why doesn't Chrysler wake up and service what it sells? It is a game to see who (dealers) can screw you the most!
I actually hope in some ways that they do go under!
Since I have never traded in a car, but either gave them to my kids to use or given them to charity, I have never thought about the resale value of a car. We have essentially run them into worthlessness. The 2006 300C is staying in our family for a long, long time, I hope.
I love my 300c and dont care about the resale value. As for the rattles in the front end I found them and fixed them all. If you woul like to fix yours go to the search on this forum and put in rattles. then go to about page 12 and look for my post brandy16.
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