2020 Jeep Cherokee purchase 1/25/21
Just brought home a new 2020 Jeep Cherokee Latitude Plus
Base Price: $27,595
Package 2BD (Alpine sound + Sunroof): $995
Destination charge: $1,495
Total MSRP: $30,085
On top of the MSRP they had their dealership BS package that was about $1,900 which included a bunch of nonsense that we know dealers like to add on. I told them from the start I wasn't paying a penny for it and it was "removed" included nitrogen in tires and a few other minor items which I still got to keep of course.
Total rebates - $5,000
I did provide a Chrysler affiliate rewards number as well.
Price paid for the vehicle $21,995. That's a $3,090 dealer discount plus the $5,000 in rebates.
I traded in a 2020 GMC Terrain SLE FWD with 2,700 miles (had it for 6 months) and received $20,500 for it.
KBB trade-in value for "very good" condition is $17,091-$18,672
Edmunds trade-in value for "clean" is $19,358
Carvana offered $20,900 for the vehicle but trading it in saved me about $1,500 in taxes (get a tax credit) so it made more sense to trade in the vehicle.
Financed with Chrysler at 5.9% interest. I have a FICO over 700 so I know this was marked up. It's ok, wait 3 months and my credit union will refinance it at 3.49%. The cost of having a marked up interest for 3 months is about $150. Had to give them something.
All in all happy with the deal. Any thoughts?
Btw: The GMC Terrain SLE was purchased brand new 6 months ago at a price of $20,200 (massive rebates) so no negative equity despite not putting any money down and only having it 6 months.
Base Price: $27,595
Package 2BD (Alpine sound + Sunroof): $995
Destination charge: $1,495
Total MSRP: $30,085
On top of the MSRP they had their dealership BS package that was about $1,900 which included a bunch of nonsense that we know dealers like to add on. I told them from the start I wasn't paying a penny for it and it was "removed" included nitrogen in tires and a few other minor items which I still got to keep of course.
Total rebates - $5,000
I did provide a Chrysler affiliate rewards number as well.
Price paid for the vehicle $21,995. That's a $3,090 dealer discount plus the $5,000 in rebates.
I traded in a 2020 GMC Terrain SLE FWD with 2,700 miles (had it for 6 months) and received $20,500 for it.
KBB trade-in value for "very good" condition is $17,091-$18,672
Edmunds trade-in value for "clean" is $19,358
Carvana offered $20,900 for the vehicle but trading it in saved me about $1,500 in taxes (get a tax credit) so it made more sense to trade in the vehicle.
Financed with Chrysler at 5.9% interest. I have a FICO over 700 so I know this was marked up. It's ok, wait 3 months and my credit union will refinance it at 3.49%. The cost of having a marked up interest for 3 months is about $150. Had to give them something.
All in all happy with the deal. Any thoughts?
Btw: The GMC Terrain SLE was purchased brand new 6 months ago at a price of $20,200 (massive rebates) so no negative equity despite not putting any money down and only having it 6 months.
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Comments
Thanks for the report.
What was wrong with the Terrain that you swapped out of it after 6 months?
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