Chrysler resale value drops after filing

May 11, 2009 at 1:28 PM
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AUBURN HILLS, Mich., May 11 (UPI) -- Chrysler vehicle owners have apparently seen the value of their cars and trucks slide due to the U.S. automaker's bankruptcy filing, a research group said.

The resale value of Chrysler, Jeep and Dodge products three years off the production line fell 6 percent within seven days of the firm's bankruptcy filing, Automotive Leasing Guide said.

Prior to the filing, a three-year old Jeep brought in an average of 38.4 percent of the sales price, the Detroit Free Press reported Monday. After the filing, the resale value dropped to 32.4 percent.

A Dodge product three years out of the showroom sold for 37.3 percent before the filing. After the filing, Dodge products were selling for 31.2 percent of the original price. Chrysler vehicles have flipped from 34.8 percent to 28.8 percent of their original value.

In comparison, 3-year-old Toyotas sell for 45.5 percent of their original price while Hyundai's retain 40.9 of their value after three years.

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