The 2023 Jeep Wrangler Has 1 Expensive Drawback
It’s no secret that off-roading SUVs like the Jeep Wrangler are expensive, but markups are starting to get a little out of hand. Even as inventory increases and interest rates climb, one 2023 Jeep Wrangler aspect is causing prices to skyrocket. Let’s see why.
Why is the 2023 Jeep Wrangler priced above MSRP?
The 2023 Jeep Wrangler is too popular to slow down. Even as prices reached peak highs, demand for this durable off-road SUV hasn’t slowed down. Jeep Wrangler production is still trying to catch up. It beats the pants off the Ford Bronco in terms of sales.
According to iSeeCars, the average new vehicle is priced at 8.8% above the manufacturer’s suggested retail price (MSRP). But on a positive note, we seem to have reached peak pricing, and vehicles are slowly becoming more affordable. So far, used Ford F-150 models are coming down in price.
So, some vehicles are, at least. The Jeep Wrangler maintains high markups, with an average difference of 23.9 % between the MSRP and the price paid. It has the second-highest markup among SUVs. Only the Genesis GV70 beats it at 27.5%.
However, the Wrangler ranks as the top non-luxury SUV with the highest markup. But as supply chain shortages ease and production increases, we could see prices start to fall.
During the pandemic, as inventory became limited, Wrangler fans remained passionate and willing to pay higher prices to get behind the wheel. Popularity is a significant factor in price hikes.
Which 2023 Wrangler trim is best?
There are actually 10 different 2023 Jeep Wrangler trims available with two-door and four-door configurations to meet a variety of individual needs and budgets. The Wrangler Sport has traditional minimalist vibes, while the Rubicon 392 has supercharged V8 Hemi power.
If you want to save, the Jeep Wrangler Sport S adds some comfort and convenience features without a massive price jump. It builds upon the Sport model with alloy wheels, a leather-wrapped steering wheel, air conditioning, power locks, and power windows.
It has the basics like tow hooks, fog lights, a soft top, skid plates, a 7.0-inch touchscreen, and Apple CarPlay/Android Auto integration. Also, part-time 4×4 with low-range gearing is standard, but higher trim levels have full-time 4×4.
If you want the 2023 Wrangler for dominating the wild, then check out the Wrangler Rubicon. It’s the most robust off-roading-oriented trim. It has 17-inch wheels wrapped in all-terrain tires, electronically locking front/rear differentials, and an electronically disconnecting front stabilizer bar.
It also has 4:1 low-range gearing, heavy-duty front and rear axles with a shorter 4.10 gear ratio, rock rails, and an extra Off-Road Plus drive mode. We’ve tested this mode on the 2024 Wrangler, and it’s very impressive.
Does the Wrangler have a good resale value?
Yes, the 2023 Jeep Wrangler has an excellent resale value. After three years of ownership, the Wrangler can maintain about 70 percent of its MSRP. It still maintains about 60% of its value after five years of ownership.
Depending on the Wrangler model, it may depreciate by about 22% over five years to maintain a five-year resale value of about $33,656. The value may vary based on mileage and condition. Also, hopefully, the previous owner took proper care of it.
The Jeep Wrangler maintains its value because it’s a durable off-roader with the ability to dominate tough terrain. Plus, it has kept its iconic look, so even older models don’t appear dated at first glance.
So if you pay for a Wrangler with a high markup, it’s still possible to get an excellent return on your investment. We will monitor prices and inventory levels to see if prices continue to drop slowly.