that can be said for just about any car,
lots of variables involved,
trade in value, private sale, model, features etc....

 

Please provide some background and facts to back up your statement. I don't believe you at all.

If true, I would like to buy it at that depreciated value.

 

agreed. Need some facts.

also, if you rolled negative equity into the vehicle that does NOT account for the purchase price, same goes for gap, extended warranty, tire warranty, or any of that other stuff. While it is under the same loan, it is not the same. Also are you looking at trade in, private party, or retail price?

Patriots actually hold their value pretty well. at least around these parts. and cars that are a year or two old with under 25K miles usually only loose about 10-15% of value, (MSRP-rebates vs. retail of used) which is excellent. the rule of thumb i've heard my entire life is when you buy new and drive off the lot, you lose 1/3rd of your car's value.

When I sold mine, I had had it almost 2 years, had 12k miles on it. Sold it at a ~$4k loss to what I paid for it to sell it quick, because it had been in an accident (somebody hit me in a parking lot HARD) which effected its value as well. took me a week to sell it. That's actually really really good.

 

You must have overpaid by a LOT!!!

 

This made me want to look, when I was shopping for them I could only find 2008's with like 60-100k miles for around $10k!

I paid $14,000 new for mine and I just checked KBB and mine actually increased in value by $321 in the past year and a half!!!
$14,321 is what they say its worth today!

Kelley Blue Book

 

for curiosity sake
looked up value on kbb for my 2007 with 195k on it
just entering basic info as sport model has private sale value of $3800,
woohoo i consider that dang good for a 9 yr old 195k mile car
willing to offer discount for JP.com members, first $3500 take it ,

also checked trade in value of 2016, estimated 5000 miles,
and its about $13k trade in value for a $25k car
so guessing original posters claim of $12k depreciation is on trade in value, which is a given for just about any car

 

When I traded in my 07 for my 14 I got 3000 on trade with 208000 I was pleased

 

Looked up what mine would be worth if I had kept it this long, 14,700 private party, 16-17,500 retail used. Being that I paid about 22,000 for it new, (and paid too much for it), that's not bad at all. almost 4 years old, and have lost ~7k in value. or a little over 1/3rd of its value. That's actually pretty good for a new car (and another reason I'm never buying another new car again).

 

yea feel the same,
recently bought a 2 yr old buick with 8k miles on it,
still has plastic wrap on door sill
new its a $28k car i paid $16k at a dealer,
can pay off the $16k in no time,
next time i will be looking for similar slightly used again

 

Depends how you think about it. Yes I think the patriot has bad resale value. But if you are buying used, its quite the deal. Bought mine, its the top of the line model, 50k miles was only 14000 dollars. Not bad. I like vehicles with low resale, because it makes them much more affordable and taxes are cheaper too.

 

My most recent car purchase, my alero, its an 03, but only had 103k miles on it. Less than 8k miles a year on it. Paid $2500 for it cash. Doesn't leak oil, working AC, clean interior. I did put new suspension on it ($240 for all 4 corners, and 2 1/2 hours of one of my saturdays), new tires ($150), and a new radio (under $100). And in 2-3 years when I go to sell it, it will probably still be worth ~$2500.

My goal is to save up enough $ in the time frame to buy a car for $6-8,000 cash. and drive it till I can save up another 6-8k cash, and then sell it and buy an even nicer car. Till I can buy that 2 year old buick, and not a 13 year old car.

 

do what you gotta do,
will get there
1 thing i learned is have some cash ready,
and always be on the look out for bargains
dont save up x amount and go out right away looking to spend that amount,
have that cash ready for when you come across a bargain ready to buy,

 

Another way that I assessed vehicles before my purchase 3 years ago was to check out "5 year true cost of ownership" sites: Edmunds, KBB, etc..

What I learned is that the sites vary by quite a bit, so you have to average them a bit. Initially, they all show that the Forester, CRV, Tucson, Sportage, etc. end up cheaper to own at 5 years, mainly due to depreciation, resale, and to a lesser degree repair differences. One big problem is that they didn't take in to account the HUGE rebates Jeep offers, usually in the neighborhood of $3,000 to $5,000 dollars. Equally optioned Patriots and Foresters are both around $25,000, when in reality the Patriot is available $3 -$5 thousand less. Another flaw is that those who keep their cars until junkyard bound negates much of the depreciation/resale portion of the calculations. The simplicity of maintenance and repairs of the Patriot (maybe) adds even more savings (For diyer's only) compared to some of the others, but I honestly don't know much about the others, especially the boxer engine.

But, it is fun to crunch the numbers. The Edmunds sight shows a depreciation cost of approximately $11,000 over FIVE years. Other sites (Kelly Blue book show more).

Have fun: 2016 Jeep Patriot Latitude: True Cost to Own | Edmunds

Note: only $3,000 depreciation first year in MY example (options). Similar figures at other sites kind of puts the OP's statement in the circular file (trash can).

What really astounds me is at both Edmunds and Kelly Blue Book, when you compare the editor reviews to the consumer/owner reviews, it seems that one is reading about two completely different vehicles.....the consumer/owner reviews are much more positive. Go figure.

 

If I bought a Patriot six months ago (which I did) and found out it had depreciated by $12000 in that time, I'd be upset too. But I wouldn't be upset with the vehicle, dealer, manufacturer, salesman, or anyone other than myself for paying way too much. Frankly I have trouble believing this whole scenario.

Anyway this is how I do it:
Today's Salem Statesman Journal, new 2016 Patriot $11,498 or $10998 through Chrysler (16E176 Roberson Motors).
That is the starting base figure.
From Jeep website add retail prices of options you want.
Add retail prices of options to base price of $11000.
That yields a good target price to start with before going to a dealer.
Search the area for a vehicle optioned fairly close to what you want.
Go to dealer with companion. One of you will play the part of the individual willing to walk out.

I've never had a problem with finding these advertised specials at dealers. Maybe it's something about Oregon law.

 

I recently traded my 2014 Patriot, it listed at $26k and I paid $21k out the door after tax/title/tags - had everything, special edition/FDII/All auto/Tow package/No Nav which I didn't need..

I got $16,000 after 3 years of use - that's not a bad deal quite frankly. And since I replaced the special edition gray wheels when I first bought it I still have those to sel, which go for @800 a set on Ebay.

So do the math - a 5k loss on a 26k vehicle I drove for 3 years. Btw - I traded for a 2013 BMW X3 still under warranty that cost $50k 3 years ago and paid $25k for it out the door (half it's original cost).

I'd say the Patriot holds it value very well. Hit me up if you want the rims, they were taken off the day I bought it. I'm in NC.

 

These are the rims if anyone is interested - they are like new and have been in a box since the day I bought the vehicle new. I can send pics if you're interested.

 

I would love your wheels, but I think you're too far away.

 

Bump to avoid duplicate posts

 

Bulderdash...

They hold their value just fine and will go UP after the last one is built.

And this will be a "Classic" Forum.

And we'll be "classic" members.

Remember this?

 

If they would stop building them like they keep threatening it would increase the value of all of them...maybe. Sticker on my Ram-36000, value 1 year later-24000.

 

Trucks keep their value well in rural areas. Jeeps as well. My dealer bought my Pat back for 14,500. They sold it for 18,000.00. had 21,000 mi. Bought it for 19,500 30 months prior.

 

I trade a lot and you do lose when you trade quickly like I have and am trying to brake the habit--but not doing well. I bought a 2015 Patriot Sport last year and then 7 months later traded it for my current Patriot. I had paid $17500 for my Sport and it cost me $6000 7 months later to trade for my current Patriot Latitude 4 by 4. My current Latitude had a MSRP of $27380 and the one I traded had an MSRP of 23765 so I did lose some money. An increase of $3615 on the MSRP cost me $6000 dollars but I liked the first Patriot so much I upgraded after the wife took a drive in a Renegade and I was the passenger. She didn't like the Renegade nor did I so I upgraded my Patriot as I consider it a pretty darn good vehicle. So adding the $17500 and the $6000 I have $23,500 in my current Patriot, but did get 7 months use out of the first one.