Having your own car is also an investment that can potentially affect your financial status. Yes, a car will help go around to different places, but this investment also comes with monetary value that depreciates over time. For this reason, it is essential for you as an owner to find a car that both provides the most comfortable ride and holds its value as time goes by. So, if you own a Jeep Wrangler, it will be better to know how this vehicle retains its value over time.
This leads me to this question: do Jeep Wranglers hold their value? It is a fact that all cars will depreciate in value after some time, but not all cars have the same depreciation rate. As it is, everything will all depend on the ability of the vehicle to hold up its value over time. Fortunately, your Jeep Wranglers is one of those vehicles that easily hold its value for many reasons, which you will learn in this article.
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Jeep Wrangler Depreciates Slower Compared to Other Vehicles
There are several factors that can affect and contribute to the depreciation of some vehicles. The most obvious is the wear and tear of the vehicle, which is basically the mileage it has endured in a particular time frame. The more the vehicle is older, the more its value depreciates over time. Another factor is the damage incurred by the vehicle after all these years. If the vehicle looks damaged, it can lower its value compared to those with excellent appearance.
In connection with all the above factors, one must wonder why the Jeep Wrangler depreciates slower than other vehicles. There are several reasons for this situation which is listed below:
The Jeep’s Reputation
When it comes to a car holding its value, its reputation matters. The Jeep Wrangler has been proven to hold its value because of its excellent reputation and its proven ability to produce vehicles that can last for a long time. Jeep Wrangler is considered one of the most durable and most challenging vehicles you can use on and off the road. With its ability to navigate difficult terrain and providing excellent performance even on rough roads, the vehicle has gained the reputation of a vehicle that simply will not quit.
The Jeep Brand as an Icon
The Jeep as a brand is considered an icon which makes it depreciate slower than other vehicle brands. The Jeep Wrangler has been around for so many years and is being owned by several well-known huge multi-companies. Meaning, the Jeep is well-known for producing durable and tough vehicles that work both on and off the road. In fact, if you ask for the best off-road vehicle, it’s got to be the Jeep Wrangler.
The Jeep’s Original Shape and High Demand
The Jeep’s iconic shape is another reason for this vehicle’s slower depreciation rate. This design has been in the industry for many years, although a few minor changes were being made. The Jeep still has one of the most iconic shapes in all SUVs, and many vehicle enthusiasts are still looking for it.
You cannot also deny the fact that this brand owns the most passionate fans in the automobile industry. The cult-like following of this brand has helped the vehicle in retaining its overall value throughout the years. It does not even matter what Jeep model you own. The Jeep as a brand has a high demand which helps the brand holds its value over time.
Do Jeep Cherokees Hold Their Value
The Jeep Wrangler, as a brand is known, is known for its toughness and durability when used on the road. Its off-road capability is second to none, which many have proven as the vehicle is considered the best off-road vehicle. However, one particular model in the Jeep brands that have gained the reputation of being a compromise between the Jeep’s off-road capability and an excellent styling is the Jeel Grand Cherokee.
The Jeep Cherokees’ styling is unique and is not offered to the other Jeep models. But the biggest question is that if this particular model can also hold its value over time. Compared to other vehicles. The Jeep Grand Cherokee will also lose its value once it left the Jeep showroom. But what is its exact depreciation rate? This vehicle is estimated to depreciate by 30% of its original value right after the first year and will depreciate further to 65% after five years.
What differentiates the Jeep Cherokees from other vehicles is its general style and appearance. It is so different from other Jeep models, which makes it appealing to a Jeep enthusiast. The design of this vehicle moves away from the rugged off-the-road design of the usual Jeep Wrangler. What you will see is a vehicle intended for family and corporate setup and those people looking for a day-to-day vehicle.
If you plan to buy a used Jeep Grand Cherokee, I suggest having a 2-years old age. Its age is still relatively young with plenty of useful life left to your benefit. Of course, if you keep it for another three years, it is expected that the value will go down, but fortunately, most of the Jeep Cherokee model has the ability to hold their value which is beneficial on your part.
Do Jeep Wranglers hold their value? Yes, Jeep as a brand has the reputation of having one of the lowest depreciation rates in the industry. With its reputation, iconic brand, original design, and strong following, the Jeep models can hold their value as time goes by. Meanwhile, the Jeep Cherokee can also hold its value with its unique design and styling.