Do Jeep Compasses Hold Their Value? What To Know About Resale & Depreciation
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When people think of the Jeep brand, they usually imagine the rugged Wrangler conquering challenging off-road terrains. However, Jeep has expanded its range of vehicles to include compact crossover SUVs. One such popular model is the Jeep Compass.
The Jeep Compass stands out in Jeep’s lineup as a compact crossover SUV that seamlessly marries urban convenience with off-road capability. Perfect for navigating city streets or exploring rugged trails, it offers a unique combination of style and function.
But what about its long-term resale value? Do Jeep Compasses hold their value? For today’s post, we take a closer look into the value retention and depreciation of the Jeep Compass.
Jeep Compact Crossover Resale Value
Before diving into the specifics of the Compass’ resale value, let’s first examine Jeep’s performance in retaining value within the compact crossover market. Utilizing our CoPilot Price Pulse Tool, we gathered the following data:
As you can see from the data, the Jeep brand showcases a solid resale value in the compact crossover market, maintaining 69% of its original MSRP. The fact that Jeeps keep such a high percentage of their value really speaks volumes about how much people trust and love these vehicles.
Honda is at the top with an impressive 84% value retention, but Jeep is also doing well - thanks to its famous reputation and strong off-road abilities. Jeep is also close behind Hyundai, which retains 72% of its value, and it’s doing better than many other brands across various categories.
Please note that the resale values represented here are subject to change based on market conditions, demand, and various other factors.
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Jeep Compass Resale Value
Do Jeep Compasses hold their value? For this part, we consult several reputable websites to get a good grasp of the Compass’ value retention.
As per the analysis conducted by iSeeCars.com on the compact crossover segment, the Jeep Compass has a decent resale value, retaining 56.8% of its original worth after five years. Talking about the Jeep Compass, it’s pretty clear that it’s got a steady fan base among those looking to buy used cars (it’s a Jeep, after all). This kind of stable demand really puts it in a good spot in the compact crossover SUV scene.
CarEdge has a different take on the Jeep Compass’ depreciation rate. Like most cars, it loses a chunk of its value as it ages. Over about five years, expect it to lose around 29% of its original value. So, if you bought it new for, say, $33,967, you might be able to sell it for around $24,113 after five years, assuming it’s still in good shape and you’ve driven it an average amount, like 12,000 miles a year.
In addition, the page provided a chart that breaks down the yearly value of the Jeep Compass. In the first year, the value drops by approximately $2,503, bringing the resale value down to $31,464. The value continues to decline each year, with more noticeable dips after the fifth year. While this is standard for cars, it’s always a good idea to keep these figures in mind, particularly if you plan to sell your Jeep Compass in the future.
JEEP COMPASS PROS & CONS
No car is perfect. If you’re considering these items, you might want to consider the Jeep Compass pros and cons before making any choices.
Used Jeep Compass Buyer’s Guide (Powered by CoPilot Price Pulse Tool)
Do Jeep Compasses hold their value? Let’s use our Price Pulse Tool to evaluate the performance of a specific year of the Jeep Compass. This time, we take a look at the 2020 Compass, and here’s what we found:
- 2020 Compass Market Performance: The 2020 Compass is currently trading at a price premium of $1,469 over the original forecast price. This suggests a stronger-than-expected demand or a potential decrease in supply.
- Price Trend: The graph shows a consistent decrease in the price premium over the year, indicating that prices are stabilizing or the market is adjusting to new norms for this vehicle.
- Comparison with Previous Years: Compared to the 2018 and 2019 models, which have a higher price premium of $2,626 and $2,546, respectively, the 2020 model’s lower premium suggests it may offer better value for buyers. The 2021 and 2022 models have even lower premiums, with $1,123 and $130, respectively, indicating newer models are closer to their forecasted prices or less market volatility for those years.
- Current Market Considerations: The market price has decreased by $2,893 from its peak for the 2020 model, which implies that the current market conditions might be more favorable for buyers.
- Buying Recommendations: The lower end of the price forecast and the indication of a potential “new normal” for the price suggest that now might be a good time to consider purchasing a 2020 Compass. The trend towards a decrease in the premium paid over the original price forecast could mean that prices are leveling off, and buyers could be entering a less volatile market.
- Overall Market Insight: It appears the market for the Jeep Compass is becoming more buyer-friendly, particularly for the 2020 model year, as evidenced by reduced price premiums and approaching what might be a new standard pricing norm.
Please note that the market conditions and values for used vehicles like the 2020 Jeep Compass are subject to change.
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Final Thoughts
It’s interesting to look at the Jeep Compass from a value perspective, especially considering it’s a compact crossover SUV. It’s got this knack for holding onto its value pretty well in the market. Much of this can be chalked up to the Jeep brand, which has always had a strong reputation. People associate Jeep with durability and versatility; the Compass is no exception.
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