The Jeep Wrangler has been a champion of civilian off-road vehicles for more than three decades as an off-road beast with a penchant for trail, mud and mountain climbing. It’s no wonder the Jeep Wrangler continues to be a popular choice for outdoor enthusiasts. However, if you live in Virginia, you may want to get one sooner rather than later.
Used Jeep Wrangler Prices Are Rising Fast in Virginia
Of all the available vehicles, the Wrangler recently experienced the most significant drop in affordability of any model in Virginia.
According to iSeeCars, the Jeep Wrangler is the most expensive type of used vehicle in Virginia. The average resale price of used Wranglers shot up from $14,565 in August 2019 to $39,671 in August 2022. That’s a jump of $25,106 in three years and was 33.7% “above the used car affordability threshold.” in August 2022.
Although prices have gone up, the Wrangler is still an excellent value for anyone looking to own one of these vehicles. The Jeep Wrangler comes with superior off-road capabilities, longevity, and strong resale values, making it a desirable vehicle year after year. Not to mention its rugged good looks!
Popularity Influences Cost
The main reason Jeep Wranglers are expensive is because they hold their value very well over time. According to CarEdge, the Jeep Wrangler’s depreciation rate is only 30% after five years of ownership. A 30% depreciation value is much lower than the average for most other used SUVs, making prices higher than similar models. As a result, a used Wrangler could cost more than a new model of another vehicle.
Additionally, the Jeep Wrangler is iconic in the SUV world and is considered one of the most capable off-road vehicles, adding to its appeal and increasing its price. For these reasons, used Jeep Wranglers can be expensive compared to other used SUVs on the market.
Due to supply and demand, it’s standard to expect fan-favorite vehicles to cost a bit more. But despite the staggering $25,106 price increase, the Jeep Wrangler remains a popular choice for buyers.
Tips for Buying a Used Jeep Wrangler
Before shopping for a used Jeep Wrangler, it’s important to research what features and options are available for different model years so you can get the best deal on a vehicle to suit your needs. Have any potential purchase inspected by a qualified mechanic before making a full commitment to buying a used Jeep Wrangler. This will help you identify potential problems with the vehicle and ensure it is safe to drive.
Many Jeep enthusiasts install aftermarket parts in their vehicles, so be sure to ask about these before purchasing a used Jeep Wrangler, as they can add significantly to the cost of ownership. Also, consider the cost of insurance, gas, and maintenance when setting your budget for a used Jeep Wrangler so you can spend your money wisely.
Compare prices and options from various dealerships to ensure you get the best deal on a used Jeep Wrangler. Don’t be afraid to negotiate, as many dealers will work with you to get the best price.
The Jeep Wrangler is one of the most popular and reliable off-road vehicles. However, due to their popularity and considerable resale value, used Jeep Wranglers can be expensive compared to similar models. Before investing in a used Wrangler, it’s essential to research the model years, get an inspection, consider aftermarket parts, set a budget, and shop around for the best deal. With these tips in mind, you can ensure that you find the perfect used Jeep Wrangler for your needs and budget. Happy trails!