Resale values on Chrysler products like this Dodge Challenger SRT8 went up in smoke after the company filed for bankruptcy.
According to Automotive Leasing Guide, the resale value of a Chrysler vehicle dropped six percent in the week following the company’s Chapter 11 bankruptcy filing.
In just seven days the uncertainty about Chrysler’s future crept into the marketplace in a very real way, damaging the resale values for Chrysler, Dodge and Jeep products almost equally.
Prior to the bankruptcy filing a three-year old Chrysler was worth 34.8 percent of its original value. After the filing, that amount dropped to just 28.8 percent.
The value of a three-year old Dodge went from 37.3 percent to 31.2 percent and three-year old Jeep vehicles declined in value from 38.4 percent of the original purchase price to 32.4 percent.
The news isn’t good for those who recently purchased a Chrysler vehicle and as the declines are based on percentage they can take a significant toll on pricey models – like SUVs or the Challenger SRT8 pictured above.
In comparison, a three-year old Toyota retains 45.5 percent of its original value.