Did I get screwed on my Jeep Liberty purchase? (F150, insurance, vehicle)

[ShakyJ]

In the end, sure I will take the blame. But I need to realize if I got screwed here for a warranty and price paid. I appreciate the help ahead.

Jan 2013 I purchased a used 6cyl 2wd 2003 Liberty Sport with exactly, 100,000 miles on it from a Jeep Dealer in Florida. Purchase price $6900, which seemed inline with Nada, KBB, and asking prices in the area. I opted for the Gap ($400) & 2 year power train warranty ($1300).

So fast forward 10 months and I am double checking something on my paperwork and my warranty is only 1 year. I found this odd because my wife purchased a 2005 Altima just a month prior from the same dealer, warranty company, with 100,500 miles on it for $1200 and hers had coverage for 2 years. So why was my vehicle warranty costing more and getting half the coverage? When I questioned the dealer recently, they could not answer.

The reason I was checking the warranty is because I wanted to trade the car in toward something else. The car that I paid $6900 for 10 months ago was going to retail ( according to them ) for $4500, so they could only offer me $2400 on trade. Huh? I see dealers in my area asking $5500-7500 for a similar make/model. I was not expecting $5k for my car, but $2400?

Like I said, if I failed to do my due diligence from the start, my error. But if I got screwed, I want to know and suggestions of what ( if anything ) I can really do here.

Appreciate your opinions!

[C8N]

Cost of warranty vary by car.
As for the price paid, if something retails for $7000... most likely the dealer probably bought it for anywhere between $3-4k

[cats234]

Maybe they base it off the type of vehicle. The jeep is probably less reliable than the altima

And you can definitely get more than 2400, try and sell it privately

[Caleb Longstreet]

Wow....7K for a used Jeep Liberty? Pick me up when I stop laughing....

[jaypee]

So you

- bought a 10-yo Jeep from a dealer
- for $7k
- financed it (that's why you bought gap insurance, right?)
- bought a $1300 warranty
- just found out it was only for 1 yr
- want to trade it in
?

I'd say that's a whole lotta missteps.
Suggestion: keep the Jeep and don't make the same mistakes again.

[GarageLogic]

Originally Posted by ShakyJ

In the end, sure I will take the blame. But I need to realize if I got screwed here for a warranty and price paid. I appreciate the help ahead.

Jan 2013 I purchased a used 6cyl 2wd 2003 Liberty Sport with exactly, 100,000 miles on it from a Jeep Dealer in Florida. Purchase price $6900, which seemed inline with Nada, KBB, and asking prices in the area. I opted for the Gap ($400) & 2 year power train warranty ($1300).

So fast forward 10 months and I am double checking something on my paperwork and my warranty is only 1 year. I found this odd because my wife purchased a 2005 Altima just a month prior from the same dealer, warranty company, with 100,500 miles on it for $1200 and hers had coverage for 2 years. So why was my vehicle warranty costing more and getting half the coverage? When I questioned the dealer recently, they could not answer.

The reason I was checking the warranty is because I wanted to trade the car in toward something else. The car that I paid $6900 for 10 months ago was going to retail ( according to them ) for $4500, so they could only offer me $2400 on trade. Huh? I see dealers in my area asking $5500-7500 for a similar make/model. I was not expecting $5k for my car, but $2400?

Like I said, if I failed to do my due diligence from the start, my error. But if I got screwed, I want to know and suggestions of what ( if anything ) I can really do here.

Appreciate your opinions!

Because it's a 2WD, it's worth about $3500-$4000 if YOU sell it. A dealer, of course, will try to ask more.

I don't want to rub salt into a wound, but in my opinion you paid WAY too much money for that Jeep. And purchasing an extended warranty is RARELY anything but gravy for the company that sold it to you.


My real question to you is this: How badly do you want to get rid of this vehicle? If there's nothing wrong with it, and you're not obligated to ditch it, just keep it and drive it for as long as you can. You never make money dealing with car dealers.

[Parsec]

Holy Jesus you could've bought a similar year/mileage Audi TT for that much money. I agree with others, if you already overpaid and bought a warranty And financed it then the best thing to do is suck it up and drive it to the ground while you try to save up a bigger down payment for your next vehicle.

[ghostrider7811]

Originally Posted by Parsec

Holy Jesus you could've bought a similar year/mileage Audi TT for that much money. I agree with others, if you already overpaid and bought a warranty And financed it then the best thing to do is suck it up and drive it to the ground while you try to save up a bigger down payment for your next vehicle.

I would rather have the Liberty. No Audi TT, Total Turd? for me.

I do agree you paid on the high side for sure unless it is something special, like a Limited 4x4.
I also agree that you need to keep it, drive it and pay it off.

I have had 2 Libertys, and one Dodge Nitro as company cars, I enjoyed them all, put on many trouble free miles on each of them.

[linicx]

You're not alone. I traded a 2005 F150 for a 2000 Jeep GC Laredo V8 with AWD, 4x4 with 50k miles that listed for $8900. I got a new serpentine belt, a no-cost 2 year warranty and clear title out of the deal. Part of me wanted the Hemi, lift kit, 30" tires, and heavy undercarriage, but my conservative side won. I want to be able to get out of the driveway when it snows. Right now I am looking at U-joints, rotors, and brake pads.

[MrRational]

Originally Posted by ShakyJ

Did I get screwed on my Jeep Liberty purchase?

Yes. But everyone else who bought one also got screwed.