Chrysler Pacifica is highest priced & has higher depreciation versus minivan competitors

4079 Views 61 Replies 16 Participants Last post by jongri, 1 mo ago

jongri

Discussion Starter · 5 mo ago (Edited)

I don't buy a brand new vehicle believing it's a good investment (no one should). They all lose $5-$10,000 in value as soon as you drive off a new car dealers lot. My one gripe with buying a new Chrysler Pacifica is the astronomical depreciation it has versus the competition. Don't get me wrong I love my new 2022 Pacifica & would buy it again. But it really is a wake up call to realize that in only one month after purchase (with only 244 total miles) it's value has dropped $20,000 from its selling price! That's by far the highest depreciation of any new vehicle I've ever purchased in 46 years and a real eye opener for sure. Luckily for me I keep my new vehicles for over 10 years on average but if I had one complaint about the Chrysler Pacifica it has the highest depreciation rate by far of all the minivan competition.

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Cornfield

· #2 · 5 mo ago

I had a 20 PacHy Limited that I sold to buy my 21. Considering that I got the $7500 tax credit, I didn’t lose anything.

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ThisSuckersElectrical

· #3 · 5 mo ago (Edited)

jongri said:
They all lose $5-$10,000 in value as soon as you drive off a new car dealers lot.

That is not true. My 2021 Pinnacle MSRP 52,720.00, 47,960.00 OTD a unicorn fully loaded with everything that 2022+ are missing (third glass, power fold mirrors, etc.), I will have had two years this coming May,

2021 Pinnacle with 16 miles at delivery. | 2017+ Chrysler Pacifica Minivan Forums (pacificaforums.com)

I just ran the VIN in Kelly Blue Book and this is what it is valued as of today 01/20/2023.
Trade-in

Product Font Screenshot Parallel Web page

Private Party

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I am still way ahead with the 7,500 tax credit and all the fuel I have saved the past two years.

Sold my previous 2018 for more than what I bought it for new.

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ThisSuckersElectrical

· #4 · 5 mo ago

Cornfield said:
I had a 20 PacHy Limited that I sold to buy my 21. Considering that I got the $7500 tax credit, I didn’t lose anything.

I did the same thing. View the link in my previous post and see what I did.

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adebo

· #5 · 5 mo ago

Also a pretty bad time to check used car values as they have been declining over the past several months and returning to normal.

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cptcrunch

· #6 · 5 mo ago

Back in the good ol' days, you'd have 8-10k off the MSRP price PLUS the $7500 tax credit. You can't get a cheaper van than that. My 2021 Pinnacle, which was under $44k OTD plus the $7500 tax credit, is still worth around $48-$49k. It has more options than a 2022 and is not easy to find these days.

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ThisSuckersElectrical

· #7 · 5 mo ago

cptcrunch said:
Back in the good ol' days, you'd have 8-10k off the MSRP price PLUS the $7500 tax credit. You can't get a cheaper van than that. My 2021 Pinnacle, which was under $44k OTD plus the $7500 tax credit, is still worth around $48-$49k. It has more options than a 2022 and is not easy to find these days.

Yeah, I missed out on that. Had I done it a few months earlier I could have scored with discounts like stopeject and you did. With the increase in used values when I upgraded it wasn't too much of a difference I missed out on.

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ThisSuckersElectrical

· #8 · 5 mo ago

adebo said:
Also a pretty bad time to check used car values as they have been declining over the past several months and returning to normal.

Haven't seen anything like that. Everything I have seen is sky-high compared to three years ago.

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PacificaMinivanFan

· #9 · 5 mo ago

I wonder if this is a regional thing. Here in the Twin Cities where minivans are very, very, very popular, prices are still up there.

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Tri-C

· #10 · 5 mo ago

As others have said, my Pinnacle is worth WAY more than my net cost of less than $35,000. Even the market was "normal," I'd still be ahead thus far.

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adebo

· #11 · 5 mo ago

ThisSuckersElectrical said:
Haven't seen anything like that. Everything I have seen is sky-high compared to three years ago.

Many articles out there about dropping prices, and at least in my area dealer lots have gone from empty to full. At the start of 2022, I was fortunate to flip a few cars because of used car prices, but have struck out since Fall 2022. Some areas may be different, but overall it seems things are normalizing in the car space. Here is a quote from a cars.com post:

"After reaching a peak of $25,721 in February, average used-car prices among Cars.com dealers have been on the decline, with more substantial drops seen in recent months: In October, the average price for all used vehicles was $23,499 — down 3.4% compared to one year prior and 7.8% compared to April 2022. The trend continued in November with an average used-car price of $23,000 — a nearly 8% drop from the same time a year prior."

https://www.cars.com/articles/used-car-prices-are-finally-dropping-heres-what-to-expect-in-2023-460678/

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ryman222000

· #12 · 5 mo ago

True. This car market has been insanely inflated over the past year or so. Getting back closer to normal. ... I purchased a brand new 2021 Kia Sorento SX right when they came out for 40k, 2 months ago sold it for 39k. lol . crazy. ... then purchased my used 2020 Pacifica Limited with 60k miles for $23,400. ... I couldn't be happier with how the car and how the deals went down.

cheers.

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CANADAHYBRIDGUY

· #13 · 5 mo ago

Market hasn’t changed that much , and the pricing decline is based on what vehicle you have . Talk to the Tesla fan boys about the price cuts and then talk numbers . Sold my 18 ehybrid what I paid for it 3 years after I purchased it and my 21 pinnacle ehybrid is on cash positive side for value in trade or private sale . So generalizing that whole market has tanked as a blanket statement is just plain nonsense

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adebo

· #14 · 5 mo ago

CANADAHYBRIDGUY said:
Market hasn’t changed that much , and the pricing decline is based on what vehicle you have . Talk to the Tesla fan boys about the price cuts and then talk numbers . Sold my 18 ehybrid what I paid for it 3 years after I purchased it and my 21 pinnacle ehybrid is on cash positive side for value in trade or private sale . So generalizing that whole market has tanked as a blanket statement is just plain nonsense

I didn't say it tanked, just said it is declining and returning to normal. Overall, the price of vehicles has been declining, and yes there are exceptions, but basic economics are at work as supply returns to normal and demand softens. (Maybe Canada is different, as I do not shop or live there).

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ryman222000

· #15 · 5 mo ago

agreed... the amount of Repos, and flooded auctions are a tale tale sign to where the used car market (and indirectly the new car market) is at and where it's headed...

Reactions: 1

jongri

Discussion Starter · #16 · 5 mo ago (Edited)

ThisSuckersElectrical said:
That is not true. My 2021 Pinnacle MSRP 52,720.00, 47,960.00 OTD a unicorn fully loaded with everything that 2022+ are missing (third glass, power fold mirrors, etc.), I will have had two years this coming May,

2021 Pinnacle with 16 miles at delivery. | 2017+ Chrysler Pacifica Minivan Forums (pacificaforums.com)

I just ran the VIN in Kelly Blue Book and this is what it is valued as of today 01/20/2023.
Trade-in
View attachment 52291
Private Party
View attachment 52292

I am still way ahead with the 7,500 tax credit and all the fuel I have saved the past two years.

Sold my previous 2018 for more than what I bought it for new.

Must be dependent on which model Pacifica & trim you purchase. My 2022 Pacifica Touring L AWD (Fully Loaded $51,800 invoice plus the $6,500 in parts & labor with after purchase add ons $58,300 total cost including everything).
Only one month after purchase and only 244 total miles & Kelley Blue Book values it $20,000 under what it cost me at between $36,000-$38,000 Trade-in & $40,000-$42,000 Private Party? That's an incredible depreciation in only 1 month w/ only 244 total miles. The PacHy obviously depreciates differently than the Pacifica AWD Gas models & I'd be depressed if I didn't love my new Pacifica. Fortunately I plan to keep mine for life - at least 10 + years. But if I tried trading it in on a 2023 Pacifica right now w/ only 1 month ownership (244 miles) no doubt I'd take a bath on it which makes it the highest depreciation of any vehicle I've ever purchased unfortunately!

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stop-eject

· #17 · 5 mo ago

I did a search on cars.com. Where do you see the $20k drop in value? I don't.

https://www.cars.com/shopping/results/?dealer_id=&keyword=&list_price_max=&list_price_min=&makes%5B%5D=chrysler&maximum_distance=all&mileage_max=10000&models%5B%5D=chrysler-pacifica&page_size=20&sort=best_match_desc&stock_type=used&year_max=&year_min=2022&zip=

Reactions: 1

jongri

Discussion Starter · #18 · 5 mo ago (Edited)

Product Azure Font Rectangle Software

Here's the Kelley Blue Book Trade-in value for my one month old, 244 miles, $58,300 actual cost with after purchase add ons ($4000 for OEM 20-Inch Wheels/Tires with matching full size spare alone) plus labor added to the $51,800 MSRP for my new 2022 Pacifica Touring L AWD with all the options included above (taken today). It's depreciation is even worse than my $95,000 1996 (Full Size) H1-Hummer Wagon (Loaded) was! And below here's what it values a 2022 Pacifica Pinnacle Hybrid with same 244 total miles. Shocking depreciation to say the least & depressing but fortunately not actual depreciation for brand new Pacifica's with under 300 miles.

Product Azure Font Rectangle Software

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Cornfield

· #19 · 5 mo ago

I feel sorry for anyone that bought a Tesla 2 months ago.

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PacificaMinivanFan

· #20 · 5 mo ago

Cornfield said:
I feel sorry for anyone that bought a Tesla 2 months ago.

Yeah, my son bought a Tesla Model Y in December after they announced the $3,750 price cut, but before the $7,500 discount. The even larger discount announced a week or so ago does not apply because the options he ordered put his vehicle beyond the allowable range. At least he got something, but I really don't think he cared about it like I would.

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