Do Jeep Grand Cherokees Hold Their Value? What To Know About Resale & Depreciation
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Many components go into investing in a new car. One critical item to consider is the vehicle’s value. If we’re looking at the Jeep Grand Cherokee, there is a specific period in which the Jeep Grand Cherokee will hold its value before suddenly dropping. You might wonder - do Jeep Grand Cherokees hold their value?
The better a vehicle can hold its value, the more you can sell it for and the longer it will last. Some vehicles immediately drop in value when you get them, while others will remain steady for years. Read on to learn more about the depreciation rate for a Jeep Grand Cherokee, how much they resell for, and other valuable information.
What Is The Depreciation Rate of a Jeep Grand Cherokee?
The first thing to ask when considering the question - do Jeep Grand Cherokees hold their value - is to consider the depreciation rate of a Jeep Grand Cherokee. How fast will the value fall from the first year of investment onwards?
According to caredge.com, the depreciation rate of a Jeep Grand Cherokee is about 38% after five years. Here’s a chart to visualize those numbers:
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After five years, you can expect to see the value of the Jeep Grand Cherokee drop close to 40%.
The Jeep Grand Cherokee does a decent job of retaining some value, but it’s far from the best. Once it starts aging, it will pick up speed and depreciate quickly.
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How Much Will Jeep Grand Cherokees Resell For?
If you own a Jeep Grand Cherokee, the resale value will change over the years. According to kbb.com, a brand-new Jeep Grand Cherokee in 2024 will cost $39,535 for the base model. From this point on, you can expect the car to drop about 18% in value in year one.
Based on the chart above, a Jeep Grand Cherokee with a higher starting price point will resell for around $44,424 after the first year. Using the same calculations, we can expect a Jeep Grand Cherokee at $39,535 to sell for about $32,517. It will sell for $31,268 after two years, $30,528 after three, and so on.
HOW LONG DOES A JEEP GRAND CHEROKEE LAST?
If you’re interested in this car, you might wonder - how long do Jeep Grand Cherokees last? What is the lifespan you should anticipate?
What Is The Best Year To Purchase For Value Longevity?
If you want to maximize longevity in your vehicle, invest in the most reliable years. These encounter the fewest issues and thus will hold their value for far longer than their competitors. The more reliable the Jeep Grand Cherokee year, the better an investment it will be for your life.
The best years for the Jeep Grand Cherokee include the following:
- 1995 Jeep Grand Cherokee
- 2008 Jeep Grand Cherokee
- 2013 Jeep Grand Cherokee
- 2019 Jeep Grand Cherokee
Reliability stands out in these selections.
Over time, these four years will cost less in repairs which essentially means they are far less likely to break down. Vehicles that don’t break down will sell for far more than their less dependable counterparts.
What Is The Worst Year To Purchase For Value Longevity?
On the other side of the coin, there are years of the Jeep Grand Cherokee that aren’t reliable and won’t hold their value as well. These years are often cheaper if you buy them used, but they’ll sell for far less.
Here are some years to steer clear of on the market:
- 2005 Jeep Grand Cherokee
- 2011 Jeep Grand Cherokee
- 2012 Jeep Grand Cherokee
These can prove troublesome for you as an owner.
Issues like erratic electronic shifts, failing alternators, and stalling engines are common in these years. Avoid them if you don’t want your Jeep Grand Cherokee to drop in value significantly.
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Which Jeep Holds Its Value Best?
Do Jeep Grand Cherokees hold their value? One helpful addition to this question is determining which Jeep retains its value the best. The Jeep Grand Cherokee is okay, but it’s far from the best.
According to slashgear.com, here are the Jeeps that hold their value the best:
- Jeep Wrangler
- Jeep Gladiator
- Jeep Renegade
- Jeep Cherokee
- Jeep Wagoneer
These will retain their value for a long time.
The Jeep Grand Cherokee doesn’t make the top of the list, but it is in the running. If you want a Jeep with a decent resale value, any of these five selections will work well if you stick with the most reliable years.
Do Jeeps Generally Hold Their Value?
By looking at the chart above, we can see that the price of a Jeep has increased by more than $5,000 from January 2020 to November 2023. The price point has gone up - but will a Jeep retain this value for a long time? How much can you expect from a Jeep in the long-term?
According to myersmanotickdodge.com, Jeeps will hold up to 70% of their value after three years. They’re a solid competitor on the market compared to other brands.
Final Thoughts
So, do Jeep Grand Cherokees hold their value? As long as you stick with some of the most reliable years, you’ll be able to sell the Cherokee for a decent price point. The Jeep Grand Cherokee has a solid resale price point so you can feel confident making a Jeep Grand Cherokee or another Jeep selection yours.
We hope this information was helpful! The more you can sell a car, the easier it will be to make a confident investment. A Jeep Grand Cherokee is a popular car for a reason, and we recommend it if you want a cool car with a decent resale value.
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