Chrysler has been operating under Chapter 11 bankruptcy protection for less than two weeks now but the automaker’s resale values have already taken a tumble. Since Chrysler’s April 30th bankruptcy filing, the automaker has seen its vehicle resale values tumble by 6 percent.
According to a new report by Automotive Leasing Guide, Chrysler’s three brands – Chrysler, Dodge and Jeep – have seen a 6 percent drop in residual values across the board. Before Chrysler’s Chapter 11 filing, three-year old Chrysler, Dodge and Jeep vehicles held 34.8 percent, 37.3 percent and 38.4 percent, respectively, of their original sale price. However, since the April 30th filing, three-year old Chrysler, Dodge and Jeep vehicles have seen their values slide to just 28.8 percent, 31.2 percent and 32.4 percent of their original sale price, according to the Detroit Free Press.
In comparison, three-year old Toyotas retain 45.5 percent of their original price.
Needless to say, all Chrysler vehicles are being affected by the company’s bankruptcy filing, not just vehicles 36-months old. As a result, Chrysler-brand trade-in values are down, resulting in many consumers having to cough up a larger down payment for a new vehicle.
Chrysler hopes to emerge from bankruptcy by month’s end, but it remains to be seen how far residuals will drop before then.
05/12, 4:24 PM
posted by:
NRG
I didn’t even know they had any resale value anyways. Lol. Especially the Sebring.
05/12, 4:27 PM
posted by:
CADDY-V
I’m sure no one thought the numers would go down in BANKRUPTCY!!
05/12, 4:52 PM
posted by:
zeegone
Their value was always up WAY too high anyway. Cheap, cheap, cheap cars!
05/12, 5:01 PM
posted by:
johnnycanuck
Six percent? Up here we call that Lite beer.
05/12, 5:01 PM
posted by:
JakeK66
If there is a used 2008 300C Heritage Edition for sale I’ll buy it from someone for $15,000 if you’re desperate.
05/12, 5:14 PM
posted by:
A.J.
That’s what I like about car companies that are in bankruptcy. Great deals on used cars!
I’ve been eyeing a Chrysler Pacifica for a while now.
05/12, 5:16 PM
posted by:
2WheeledSpeed
Chrysler Chrysler Chrysler…
I lost all respect for you when you made the Wrangler a 4 door.
I remember MONTHS ago joking with my dodge loving friend about the “2010 Nissan Ram” or the “2010 Honda Viper”.
He hated me then, but back then all I had was jokes…
Not anymore!
05/12, 5:19 PM
posted by:
Robert
If it were like 6% of a large number, then maybe we’d have some interesting news. But it’s 6% of like $30 and maybe a bottle of scotch. So you now pay $28 and bottle of bourbon.
05/12, 5:36 PM
posted by:
2WheeledSpeed
I’ll sell my ‘98 Dodge Neon for a nickel and a bottle of whiskey.
05/12, 6:33 PM
posted by:
Mutant@DCX
If your driving a 98 anything, then your not helping the economy!
05/12, 6:36 PM
posted by:
2WheeledSpeed
‘09 Kawasaki Ninja!
It’s only a 250, but even my QUARTER LITER bike is faster than a lot of cars on the road…
05/12, 6:37 PM
posted by:
2WheeledSpeed
I decided to help the economy by buying a death wish.
05/12, 6:39 PM
posted by:
Mutant@DCX
hehe, buy a NEW chrysler, save my job!
05/12, 6:47 PM
posted by:
2WheeledSpeed
The only reason I drive a Chrysler in the first place is that I got it for free from my dad once he was done with it.
No offense
But I’m a Ford guy.
05/12, 7:24 PM
posted by:
Mutant@DCX
you’re killing me!
05/12, 7:36 PM
posted by:
2WheeledSpeed
When Chrysler makes a motorcycle, we’ll talk.
That is assuming that Ford doesn’t bring out a bike to compete with you.
05/12, 7:46 PM
posted by:
johnnycanuck
Chrysler already has, well sort of. It was called The Dodge Tomahawk Concept Motorcycle. Google it but have a towel handy cuz you’re going to wet yourself.
05/12, 7:54 PM
posted by:
2WheeledSpeed
WOW…
I’m… speechless…
A V10? Really?
05/13, 12:25 AM
posted by:
BuyUSA
I just bought a Challenger R/T a few days after the bankruptcy and I have no regrets. The car is a blast to drive!
05/13, 11:33 AM
posted by:
The Stig
Drop another 10% for wholesale so these vehicles are sub-20% on trade-in. Ouch.
05/13, 1:57 PM
posted by:
jackjimturkey
Does this mean the numbers KBB is pulling out of the sky are 6 percent lower?
Or does it mean that PEOPLE ARE BUYING CHRYSLER PRODUCTS FOR 6 PERCENT LESS THAN BEFORE.
2WS: I have a Vulcan. A Ninja is less a mortorcycloe than a two-wheeled car.
05/13, 6:56 PM
posted by:
2WheeledSpeed
You’re kidding right? You just called my sportbike a two-wheeled car?
Are you anti-crotch rocket or are you confusing my Ninja with a Goldwing?
Plus, if you’re going to make fun of me don’t do it riding a Harley-wannabe
05/13, 10:35 PM
posted by:
jackjimturkey
I’m not anti critch-rocker. (in my youth I had a GF with a Honda Hurricane)
I just prefer cruisers.
yeah, the Goldwing is more deserving of the “two-wheeled car” characterization.
How about if I call your Ninja a “two-wheeled race car?”
05/14, 12:24 AM
posted by:
2WheeledSpeed
How is a sportbike less of a bike than a cruiser?
Yall cruiser boys give us no respect. I guess you’re just mad we keep passing you…
05/14, 12:45 AM
posted by:
2WheeledSpeed
Hope I didn’t sound like I was trying to be mean! I’m only playing.
I like the look of some cruisers, I just don’t find them comfortable (rode Rebels and GZ250s in my MSF course, and have sat on countless others, I hate the seating posture).
Plus as a young idiot I’m more into bikes for the performance aspect, and cruisers don’t offer me what I’m looking for.
05/14, 12:54 PM
posted by:
jackjimturkey
2WS:
I doubt if you’re an actual idiot.
It you were, you definitely would have the wrong vehicle.
05/14, 4:18 PM
posted by:
2WheeledSpeed
I’m smart enough to realize I have a tendency for motorized recklessness, hence the reason I bought a 250 and not a Hayabusa! I’d like to live long enough to be able to discuss “my youth”.