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Post by Jon W on Jul 28, 2009 15:49:11 GMT -5
Well... it is official... According to the government/EPA my '98 XJ is officially a klunker and would qualify for the cash-for-clunkers program with 16 mpg combined fuel economy...
Too bad I'm not in the market for a new car.
JW
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Post by Scott on Jul 28, 2009 19:35:45 GMT -5
Mines a Klunker too!  |
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Post by Chris75 on Jul 28, 2009 20:24:05 GMT -5
The wife is thinking of trading her 98 XJ in for a Compass, if the price is right.
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Post by Scott on Jul 28, 2009 20:40:19 GMT -5
The wife is thinking of trading her 98 XJ in for a Compass, if the price is right. Your better off selling the XJ first, you loose when you trade something that old. Buying a new vehicle outright w/o a trade gives you the upper hand to bargain for the new vehicle instead of bargaining for the trad-in value. List the 98 here for sale and see what happens.  |
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Post by Jon W on Jul 28, 2009 21:51:41 GMT -5
The wife is thinking of trading her 98 XJ in for a Compass, if the price is right. Your better off selling the XJ first, you loose when you trade something that old. Buying a new vehicle outright w/o a trade gives you the upper hand to bargain for the new vehicle instead of bargaining for the trad-in value. List the 98 here for sale and see what happens. For an 11 yr old XJ you won't get a better deal selling it yourself. You're going to get $4500 for the cash-for-clunker incentive and most of the dealers (I know GM & Chrysler will) are giving $4500 cash back... I doubt you'll get $9000 selling a used '98 XJ in any condition... I did a check on Edmunds.com for a '98 XJ Limited 4WD + bells & whistles, 90k mi, in mint condition and they say it is worth $2271 as a trade, $2996 as a private sale -- Anyway you slice that $3000 is a lot less that even just $4500 for a cash-for-clunker trade. JW |
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Post by Chris75 on Jul 29, 2009 8:48:25 GMT -5
Well it appears that the cash-for-clunker is not going to work out, yes we qualified for the 4500 Gov / 3500 Rebate, however no one has any cars on their lot!! If we would have taken advantage of this promotion last week we would of been fine. If they do have a car on the lot it is the fully loaded 27K price tag, not worth the car payments of 300+ a month.
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Post by Chris75 on Jul 29, 2009 19:58:44 GMT -5
So we went to the dealer, we can get k for the jeep towards the purchase of a new Compass. The Compass has a price tag of 23k, which brings the purchase price to ~15500 +fees. Now if you look at the year to year values for the Compass they don't to hold there value like the old xj's and other Jeeps. So right now I think the wife and I prob will pass on the deal and post it for sale via the forum. Plus it is a hard pill to swallow to know that or Jeep would be crushed if we went thru with the purchase, a real jeep owner has attachment to their jeep (like a child).
Your thoughts on the Compass??
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Post by Scott on Jul 29, 2009 20:03:43 GMT -5
Your better off selling the XJ first, you loose when you trade something that old. Buying a new vehicle outright w/o a trade gives you the upper hand to bargain for the new vehicle instead of bargaining for the trad-in value. List the 98 here for sale and see what happens. For an 11 yr old XJ you won't get a better deal selling it yourself. You're going to get $4500 for the cash-for-clunker incentive and most of the dealers (I know GM & Chrysler will) are giving $4500 cash back... I doubt you'll get $9000 selling a used '98 XJ in any condition... I did a check on Edmunds.com for a '98 XJ Limited 4WD + bells & whistles, 90k mi, in mint condition and they say it is worth $2271 as a trade, $2996 as a private sale -- Anyway you slice that $3000 is a lot less that even just $4500 for a cash-for-clunker trade. JW I have to disagree (in part) Dealerships never loose on a trade, they adjust the final selling price according to if you have a trade or not. I've worked at two different dealership (Mazda/Isuzu/Peugeot and a Mitsubishi) and did wholesale (read:auction) for a Toyota dealership. I've bought several cars myself from the Toyota one for $50. each that they supposedly gave the customer >$1,000. for. They didn't loose a cent. You will always win when going in with cash (or loan) only and no trade. Having said that, I will admit I have no knowledge of the Cash for klunkers program and how it works. If it's a program that's subsidized by an outside party like the government then that could be a winning situation. |
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Post by Jon W on Jul 29, 2009 21:16:35 GMT -5
For an 11 yr old XJ you won't get a better deal selling it yourself. You're going to get $4500 for the cash-for-clunker incentive and most of the dealers (I know GM & Chrysler will) are giving $4500 cash back... I doubt you'll get $9000 selling a used '98 XJ in any condition... I did a check on Edmunds.com for a '98 XJ Limited 4WD + bells & whistles, 90k mi, in mint condition and they say it is worth $2271 as a trade, $2996 as a private sale -- Anyway you slice that $3000 is a lot less that even just $4500 for a cash-for-clunker trade. JW I have to disagree (in part) Dealerships never loose on a trade, they adjust the final selling price according to if you have a trade or not. I've worked at two different dealership (Mazda/Isuzu/Peugeot and a Mitsubishi) and did wholesale (read:auction) for a Toyota dealership. I've bought several cars myself from the Toyota one for $50. each that they supposedly gave the customer >$1,000. for. They didn't loose a cent. You will always win when going in with cash (or loan) only and no trade. Having said that, I will admit I have no knowledge of the Cash for klunkers program and how it works. If it's a program that's subsidized by an outside party like the government then that could be a winning situation. Generally I'd agree w/ you, but in this case it is a little different. The cash-for-clunkers is a stimulus package passed by the government to which basically means if you trade in a vehicle which gets less than 18 mpg (combined, according to the fueleconomy.gov website) then you get a $4500 credit towards the purchase of a new vehicle which gets at least 22 mpg.... It is a government incentive program so isn't coming from the dealer, which is why you won't beat this in a private party sale. There are some other requirements to qualify - the vehicle also needs to be registered/insured for ~1 yr (I think), so you can't just bring in a junker you bought for chump change. JW |
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Post by Chris75 on Jul 30, 2009 6:30:48 GMT -5
You also need to have the title for a year. Besides the 4,500 the dealer also declares a scrap value which they are required to tell you and that value is also a credit. Lots of fine print on this deal that the dealers arn't disclosing.
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Post by Jon W on Jul 30, 2009 9:33:34 GMT -5
Besides the 4,500 the dealer also declares a scrap value which they are required to tell you and that value is also a credit. Lots of fine print on this deal that the dealers arn't disclosing. That is interesting... I didn't read the fine print because I didn't plan to do anything - it would be a ton of work to try to strip my XJ and I wouldn't be able to replace it with anything I'd want. JW |
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Post by Chris75 on Jul 30, 2009 10:21:34 GMT -5
Personally I would love the wife to get the Commander... I should be listing her XJ soon.
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Post by Jon W on Jul 31, 2009 10:00:26 GMT -5
Personally I would love the wife to get the Commander... I should be listing her XJ soon. I'd say to look for a CRD version, but that won't get you the $ on a trade. JW |
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Post by ddewar53 on Jul 31, 2009 12:03:40 GMT -5
Seems like the program is out of $, so I wouldn't count on it any more.
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Post by Scott on Aug 9, 2009 17:36:39 GMT -5
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