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

4036 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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jongri

Discussion Starter · #41 · 4 mo ago

That's another reason I don't believe the KBB $20,000 depreciation Trade-in value of my 1 month old, 2022 Pacifica Touring L AWD w/ only 244 total miles. The market conditions alone suggest otherwise considering the latest shortage of new car inventory with just about every manufacturer? Good luck finding new minivans from any of the 4 (Chrysler, Toyota, Honda or Kia) in stock & on dealer lots ready to test drive (barring extremely large, high volume dealerships in big cities).

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jongri

Discussion Starter · #42 · 4 mo ago

Martyworld said:
Here is my personal experience with depreciation on the Chrysler Pacifica.

For those who believe that it’s not a good idea to lease a vehicle, I have had a very lucrative experience whereby I leased 4 new vehicles since March, 2022, moved up the MSRP ladder each time, lowered my monthly lease payments each time, all with not a penny out of pocket. All extra costs and fees were rolled up into the lease.

On March 19th, 2022, I traded in my 2021 Chrysler Pacifica Hybrid Limited (MSRP $52,225) with 5,176 miles on it (monthly lease payment of $449) on a 2022 Chrysler Pacifica non-hybrid FWD Limited (MSRP $52,767), 24 month/10K yr lease, with a monthly lease payment of $289.

On July 8th, 2022, I traded in my 2022 Chrysler Pacifica non-Hybrid FWD Limited with 1,520 miles on it on a 2022 Chrysler Pacifica non-hybrid AWD Limited (MSRP $55,757), 24 month/10K yr lease, with a monthly lease payment of $256.

On December 10th, 2022, I traded in my 2022 Chrysler Pacifica non-hybrid AWD Limited with 2,443 miles on it on a 2022 Jeep Grand Cherokee 4Xe (MSRP $63,955), 27 month/10K yr lease with a monthly lease payment of $225.

On January 20th, 2023, I traded in my 2022 Jeep Grand Cherokee 4Xe with 635 miles on it on a 2022 Jeep Grand Cherokee 4Xe (MSRP $65,950), 27 month/10K yr lease, with a monthly lease payment of $167. The difference between the two Jeeps is that the latter one has 20” wheels versus 18” wheels on the one I traded in. My discounts included a $2,330 discount from the dealer, $7,500 Bonus Cash from Stellantis (Federal Tax Credit passed down as bonus cash), $2,000 US Bonus Cash from Stellantis, $1,000 Owner Appreciation Month Loyalty Bonus Cash from Stellantis, and $2,000 in additional Bonus Cash. I also got $53,000 on my trade and after paying off the lease, I had a net equity of $9,918. The total discount off of the price of my new Jeep amounted to $24,748. There is no other vehicle out there that I could get that would even come close to that figure. My equivalent interest rate on the lease is 3.72%.
In addition, since the July deal had so much excess equity (received $51,500 trade-in), the dealer had to mail me a check to cover the excess equity. That check was used to pay for my entire monthly lease payments since March, 2022 with enough left over to cover the next 2 monthly payments on my new Jeep.

I “gamed” the system legally.

Wow, that's the most new car leases and trade-ins I've ever seen by anyone in a one year time period for sure. Seems you figured out a system for trading in new Car leases after 3 months or so for another new leased vehicle. More importantly your system of super short term new car leasing/trade-in/new car lease somehow has saved you $ while getting to drive a different new car every few months or so, job well done.

Martyworld

· #43 · 4 mo ago

Thanks, I just got lucky to hit the peak period of high trade-ins. The advantage of doing what I am doing is that I live in Dover, DE where the state tax is calculated by taking the MSRP and subtracting the trade-in and multiplying that total by 4.25%. By trading in my vehicles often, I am able to take advantage of a small state sales tax. Also, because of all of the bonuses, discounts, and rebates, I am able to lower my monthly lease payments. I also benefited from having a very savvy sales manager who was able to get a residual value of 65% on my 2 year lease. I also benefited from the 3.72% interest rate on my lease because my credit score is above 800. Of course, the deals on the Jeep 4Xe would not be possible without the $7,500 Federal Tax Credit.

With the Federal Tax Credit due to expire on February 28, 2023, as indicated by Stellantis, I have time to try and squeeze in one more deal to make it 5 new vehicles in under a year with my goal to reach the Summit (pun intended). It may be possible that Stellantis will extend that bonus but it will be up to the banks to continue to pass that onto the lease customers. I have been able to take full advantage of that FTC because I am the lessee, not the leaser; that credit goes to the owner of the vehicle which are the finance companies. I have been able to get that credit on my 2021 Pacifica Hybrid and my 2 Jeep GC 4Xes. I was able to qualify for the Customer Loyalty Lease Bonus Cash of from $6K to $8K when I leased my 2 non-hybrid Pacificas.

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jongri

Discussion Starter · #44 · 4 mo ago

Martyworld said:
Thanks, I just got lucky to hit the peak period of high trade-ins. The advantage of doing what I am doing is that I live in Dover, DE where the state tax is calculated by taking the MSRP and subtracting the trade-in and multiplying that total by 4.25%. By trading in my vehicles often, I am able to take advantage of a small state sales tax. Also, because of all of the bonuses, discounts, and rebates, I am able to lower my monthly lease payments. I also benefited from having a very savvy sales manager who was able to get a residual value of 65% on my 2 year lease. I also benefited from the 3.72% interest rate on my lease because my credit score is above 800. Of course, the deals on the Jeep 4Xe would not be possible without the $7,500 Federal Tax Credit.

With the Federal Tax Credit due to expire on February 28, 2023, as indicated by Stellantis, I have time to try and squeeze in one more deal to make it 5 new vehicles in under a year with my goal to reach the Summit (pun intended). It may be possible that Stellantis will extend that bonus but it will be up to the banks to continue to pass that onto the lease customers. I have been able to take full advantage of that FTC because I am the lessee, not the leaser; that credit goes to the owner of the vehicle which are the finance companies. I have been able to get that credit on my 2021 Pacifica Hybrid and my 2 Jeep GC 4Xes. I was able to qualify for the Customer Loyalty Lease Bonus Cash of from $6K to $8K when I leased my 2 non-hybrid Pacificas.

I'm in New Castle, DE about 45 minutes north of you, small World!

Martyworld

· #45 · 4 mo ago

Yes, indeed.
Most of my deals have been with Md dealers.

jongri

Discussion Starter · #46 · 4 mo ago

Here's more proof KBB valuations can't really be trusted on new Pacifica's:
Brand new Black 2022 Chrysler Pacifica Pinnacle AWD For Sale MSRP $58,362 (in Transit)
(VIN 2C4RC3PG9NR200374) Kelley Blue Book Trade-in Value below
This value is before it's even reached it's final destination Dealership or even been Sold! I don't trust KBB's bias against new Chrysler Pacifica's as valid any longer.

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cptcrunch

· #47 · 4 mo ago

KBB is known to work for dealers and not consumers. They want dealers to get the best trade-in value so they can turn around and sell for $7k over what they paid. Same for truecar and many others.

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Red S

· #48 · 4 mo ago

Oddly enough, KBB says the following about my 2020 Red S Hybrid with 5K miles.

Trade in $46,828-$49,893
Private Party $50,653-$54,016

I paid $40K for this van (used) back in late October 2022. So I am theoretically ahead of the game!

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jongri

Discussion Starter · #49 · 4 mo ago

That seems much more realistic for a fairly new 2020 Pacifica Red S Hybrid w/ only 5,000 miles on it, great job!

jongri

Discussion Starter · #50 · 4 mo ago (Edited)

Here's KBB Trade-in value on a Brand new (26 miles) 2022 Pacifica Pinnacle Hybrid (Red) MSRP $59,800 below (This is further proof to me KBB can't be trusted for brand new (under 300 miles) Pacifica valuations)

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jongri

Discussion Starter · #51 · 4 mo ago (Edited)

KBB seems to favor the Japanese (Toyota Sienna, Honda Odyssey) & Korean (Kia Carnival) (note all the Honda ads next to KBB Trade-in valuations) Minivans over the North American Stellantis-Chrysler (Pacifica, Voyager) Minivans as far as valuations. That's despite rating the AWD Pacifica's as the best minivan to drive in inclement weather. According to Kelley Blue Book "There's only one minivan that made the list of best cars for snow. The Chrysler Pacifica Touring L AWD was among Kelley Blue Books recommendations for Best Cars and SUVs for Snow. The Pacifica equipped with AWD eases navigation during snowy and icy conditions".
KBB also lists the 2022 Chrysler Pacifica as the #1) Safest Minivan followed by #2) 2022 Honda Odyssey & #3) 2022 Toyota Sienna (2022 Kia Carnival didn't make the list)
see: kbb.com/best-cars/safest-new-suvs-minivans/
KBB considers the Pacifica's biggest cons as being the Highest Priced Minivan of the four w/ the lowest predicted reliability rating of its competition (which hardly seems fair considering that in the US Minivan Market alone for 2022 YTD totals Chrysler sold 98,624 Pacifica(s) followed by Honda selling 47,615 Odyssey(s) and Kia selling 17,075 Carnival(s) (Toyota Sienna 2022 YTD sale figures not listed) *More minivans sold usually equates to a higher number of reported problems especially when twice as many 2022 Pacifica(s) were sold in U.S. Market than 2022 Odyssey(s) & more than five times as many 2022 Pacifica(s) sold than 2022 Carnival(s). Perhaps the total number of Pacifica's is the biggest reason for it's higher depreciation?

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jongri

Discussion Starter · #52 · 4 mo ago (Edited)

CarEdge offers a much better & more realistic predicted Depreciation on new 2022/23 Pacifica's than KBB. Below-using my 2022 Pacifica Touring L AWD Invoice Price of $51,800 + $2,360 additional cost for After Purchase Add ons
(Trailer-Tow Group with 3,600 Pounds Rating $995, Splash Guard set by Mopar $175,
Interior Protection by Mopar $695, OEM 20-Inch Polished Aluminum Wheels with Gray Painted Pkts $495) for a total price of $54,160 actual cost to buy new Pacifica Touring L AWD with exact optional equipment and accessories.

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jongri

Discussion Starter · #53 · 4 mo ago (Edited)

Here's carbuzz.com best minivan ratings for 2022

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2022 Honda Odyssey ranks last of the 4 Minivan Manufacturers according to carbuzz.com

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jongri

Discussion Starter · #54 · 4 mo ago

Carbuzz.com best minivan ratings for 2023 (Honda Odyssey again ranked last)

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BriPac

· #55 · 4 mo ago

jongri said:
Carbuzz.com best minivan ratings for 2023 (Honda Odyssey again ranked last)
View attachment 52451
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Never really thought much of Kia and still don't but the brand new '22 23 Carnival is totally sweet with a brand new redesigned engine V6. My dad bought a brand new '22 and I drove it and truthfully it's really nice it looks more SUV than van so it's a little less soccer Momish.lol..10yr-100kmi powertrain 5yr-60mi bumper is brutally good!! Tooootal piece of mind for a long time.. The only thing is to get the 10-year 100K you have to be the first owner brand new, the second owner and Beyond transfers to 5-60 powertrain. I Think they're incentive to get you to buy new

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Martyworld

· #56 · 4 mo ago

I just hope your Dad never has to use that included long warranty judging by the user comments and the rating of the Kia customer service. A study on the Customer Service Scoreboard across all companies and businesses ranked the Kia customer service 376 out of the 1009 companies and with an overall score of 35.83 out of a possible 200. There were 436 negative comments out of 470 comments which equates to 92.77% of the total comments. Based on that website, all of the car companies suck in customer service.

Here is the website: Kia customer service complaints, reviews, ratings and comments

Of course, there are plenty of other car companies with scores worst than that.

Jeep is ranked 591 with an overall score of 29.09.

Chrysler is ranked 727 with an overall score of 25.63.

Toyota is ranked 337 with an overall score of 37.94.

Honda is ranked 476 with an overall score of 32.41.

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BriPac

· #57 · 4 mo ago

Martyworld said:
I just hope your Dad never has to use that included long warranty judging by the user comments and the rating of the Kia customer service. A study on the Customer Service Scoreboard across all companies and businesses ranked the Kia customer service 376 out of the 1009 companies and with an overall score of 35.83 out of a possible 200. There were 436 negative comments out of 470 comments which equates to 92.77% of the total comments. Based on that website, all of the car companies suck in customer service.

Here is the website: Kia customer service complaints, reviews, ratings and comments

Of course, there are plenty of other car companies with scores worst than that.

Jeep is ranked 591 with an overall score of 29.09.

Chrysler is ranked 727 with an overall score of 25.63.

Toyota is ranked 337 with an overall score of 37.94.

Honda is ranked 476 with an overall score of 32.41.

Yeah that's not really the first time I've heard that, I've also heard of other companies too that give you a real hard time that if you have a Powertrain issue you always have to have scheduled oil receipts, fluid change receipts and all that maintenance mumbo jumbo because they try and look for ways to wiggle out of it.. What I hear is when a component goes out it has to go out immediately not something that's been progressively getting worse like you just threw a rod or your transmission just went out and had to get towed.. in the thick contract it gives you every part that's covered so if you are familiar with mechanics and something happens and hone in on the problem slip the service Rider a hundred bucks to pick exactly something on that list that a warranty company can't wiggle out of. You have to get the service Rider at the dealership on your side and always have your service warranty contract with you and tell him he has to pick what's written on there as to what's wrong. You just have to use strategy. But the main thing is to get your oil changed every 3 or 5,000 miles and keep every single receipt they look for that, then change your transmission fluid every 25,000 Mi and coolant every 30,000 miles then there's nothing they can wiggle out of because you're up on all your fluids keep receipts for air filters too

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ThisSuckersElectrical

· #58 · 4 mo ago (Edited)

BriPac said:
it's really nice it looks more SUV than van so it's a little less soccer Momish.lol..

Soccer moms stopped driving minivans like 15 years ago and switched to SUVs. I don't know of any soccer mom that would be caught dead in a minivan because it would make their Karin image look bad.

All the "soccer moms" I see today are driving Tellurides, Explorers, Expeditions, or Tahoes. They can't afford Excursions, Suburbans, or Grand Wagoneers.

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jongri

Discussion Starter · #59 · 1 mo ago (Edited)

Black Book Valuation of a 2022 Chrysler Pacifica Touring L AWD Fully Loaded Options
(at 1,000 miles). Chrysler MSRP/Invoice $54,529

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Black Book gives much better Depreciation Valuations on newer (1 year or less) Pacifica Valuations than KBB which is better suited for older vehicle valuations.

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jongri

Discussion Starter · #60 · 1 mo ago (Edited)

Same 2022 Pacifica Touring L AWD on KBB Private Party Valuation

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Same Pacifica KBB Trade In Valuation

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KBB's Biased Depreciation of a less than 1 year old 2022 Pacifica Touring L AWD with only 1,000 miles costing $54,529. Notice all the Toyota Sienna Ads (far Right) or Honda Odyssey Ads on KBB if you have any doubts as to KBB's bias against Chrysler Minivans!

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