First I want to say hello and great site. I have been browsing it since I bought my Compass in April of '07.
With all of the talk about Chrysler "vehicle cutting" and their new plans, I am worried about the value of my car. I love it (White 07 Sport 4x4), but am obviously concerned. If they axe the model in the next few years I think it will be really hard to resell or get much for trade on it and am considering trading it in now before most people pick up on the fact that it may not be around much longer. I'm actually pretty frustrated with the situation, people (at least me) don't want to own a car that isn't made anymore...well at least not a car that is only 1 year old and has 8000 miles on it .
I am just looking for thoughts from you folks, opinions, anything you may know about the situation...
I don't want to get rid of it, but don't want to take a big hit on it either.
Owning a car that is no long sold doesn't really matter much. I owned a '98 Ford Escort ZX2 up until I recently traded it in for the Jeep. Ford dropped the model here in Canada, in 2000 (it only ran two years) and dropped it in the USA around 2003. Five years later, parts are still kicking around, and even after market parts to boot.
As for resale, it shouldn't effect anything. As long as parts are still being made, you'll be good to go. Besides, if someone missed their chance to get a Compass, and wants to buy one, you'll have a better chance of that person buying yours, than if they could get a brand new one at the dealer.
the only real reason to worry about resale right now is if you don't plan on keeping it for a long period of time...but why not keep it for years to come and it just doesn't want to run anymore? I plan on keeping mine as long as it runs, and if by then its worth nothing, oh wells I will have gotten the money out of it anyways
My last car was a 1992 Mazda Navajo. They stopped production on that model in 1995 (short life 1990-1995). I kept the Mazda until 1/2008, when I decided to go for the 2007 Jeep Compass Limited. The Mazda Navajo gave me many years of good services, and I would expect the same of the Compass. I bought the Compass because I enjoyed driving it, not because of the resale value. They could discontinue the model today, and I still would not care, as long as they keep making parts for my 7 years/77000 miles warranty plan.
Cars do not generally have long term value. They are not an investment but rather a hole on wheels you throw money into. The "residual value" is dependent on how little you drive it and how soon you sell it. For Jeeps, the value has always been in the ownership, not the trade in.
I love the commercials that point out the "resale value" angle. I have to laugh because that it typically how much more the car costs up front. The only people that sometimes get value out of this are those that buy already depreciated versions (USED) or those that bought the vehicle before it became popular...
In other words, drive your Jeep till the wheels fall off and stop worrying about it. There will be plenty of parts and I for one am planning on making good use of the Lifetime Warranties...
If you do decide to trade it, don't be surprised at how little it is worth. The first year depreciation on new cars is really high. (The more expensive it is, the more it drops....)
2008 Jeep Compass Limited 4x4 CVT
Brilliant Black Crystal Pearl Coat
personally i wouldn't be too concerned about it. like someone else said, cars generally don't have 'long term value'.
i believe the Compass will do just fine, at least the 4X4 models. they get decent MPG's and are fairly roomy.
looking 'long term', i think you might see those who are driving Expeditions, Durangos and Trailblazers looking more towards a Compass or Patriot in the future.
my concern has been resale value for 'short term'. as i see it, if you buy a Chrysler Product now, you had better plan on keeping if for a while, due to the Lifetime Powertrain Warranty. why would someone pay just a few thousand dollars LESS for a year-old vehicle when they can get a BRAND NEW one with that warranty?
as far as Chryslers go, i think they killed their used car market of 1-3 year old vehicles. "long term", i think we'll all be fine.......but that's just MY opinion.
if you like the jeep, keep it, be happy.... think about it, say they didnt ax the compass in a couple of years, well eventually they will make a new model ..zj to wj. to wk ect.. they dont make the zj, but they still make grand cherokees.. and the value will drop off just he same when the made the next version of the partiot.. keep the jeep till it blows up!! (thats what i plan to do with my ZJ then im going to rebuild it till it blows up again, and untill gas no longer exists)
98 ZJ 3" lift homemade snorkel. JKS quicker disco 5.2L 150,000, 31x10.5 pro comp muds