AN: Recall refusal: no impact on prices
Chrysler's refusal to recall nearly 2.7 million 2002-2007 Jeep Libertys and 1993-2004 Jeep Grand Cherokees is not affecting the value of used Jeeps, including those covered in the National Highway Traffic Safety Administration's requested recall over an unproven fire hazard. According to an article by Arlena Sawyers in Automotive News, neither wholesale nor retail prices have shown any unusual downward trend, despite the media attention showered on the dispute. The article cited the age of the vehicles: the Grand Cherokees under federal scrutiny are from nine to twenty years old and the newest Liberty is from six model years ago. Most new car dealers don't stock pre-owned vehicles more that four to five model years old, and most financial institutions won't finance a vehicle more than ten model years old. As one dealer quoted in the article noted, the vehicles the NHTSA are investigating are usually found on "buy-here, pay-here..
View the original, full post
