So… A lot of months ago I ordered a grand Cherokee 4xe. Once all the rebates are applied its net cap cost will be about 51K. I then will have About $2000 worth of costs on top. It’s just arrived at the dealer and despite good rebates, the money factor increases now make it a very expensive monthly lease of around 700. I’m debating whether to a. Cut my losses and bail or b. Take it, use for 6 months then flip.
However I can’t seem to get any indication of value! Carvana and carmax can’t value it without seeing it (or registration). It doesn’t even show up on Kbb.
Anyone know how i can get a rough value as to what I could get for it as a flip??
If you are trying to flip, you are taking a risk in this market as it’s going down.
If you are trying to use it for 6 months then get a new car, then you will probably be ok because of 7500 rebates.
But right now flips are getting dangerous
I have a base that was just manual appraised for 55k by Carvana. We really like it though and expect it to be a keeper. I do have another one on order that I’ll probably flip but here in MA we have it registered immediately with the local dealer.
Knowing the desire for anything plug in in CA it would seem that you could probably flip it quick vs. taking the risk of holding 6 months. But of course you need it registered and funded which could take time.
How long ago was this? AFAIK Carvana isn’t buying much nowadays for good $$$
Recent. Like the last week. They’ve been doing well on 2023 offers.
If it were me, I wouldn’t take the risk right now, but it’s your money.
$55k on a base 22 or base 23? Thanks
Base 22 4xe. I’m unaware of any 23s being built yet.
I wouldn’t do it from a flip only perspective. If you have genuine interest in car and wouldn’t mind keeping it the downside is very limited. Interest rates are killing car prices just like housing. What’s a used car rate these days? 7-8%?
If you’re not comfortable with possibly being stuck with $700/mo payment for unknown period of time then skip the headache.
I would not take on anything I cant afford or be willing to live with.
Also market is trending down and itll be about a month until you can flip it.