[Adam King]

Title says it all. A good friend of mine is in quite a pickle. He purchased a new 2019 Cherokee Trailhawk on a 5 year, 0% finance. This was a $35,500 vehicle out the door. Roughly $33k MSRP.

Shortly after purchase, he got a new job which of course came with a company car. His new employer will not provide any assistance with his payment in lieu of their company car. So he's got a very nicely equipped Cherokee sitting in the garage that costs him $500/mo.

He's had a couple interested parties, however they aren't willing to work with the 15-30 day window Chrysler Financial claims is needed to issue a lien release (totally ridiculous in my opinion. I've had lien releases printed off and handed to me same-day previously).

He doesn't have the cash on hand to pay the vehicle off outright, and doesn't love the idea of taking out a high interest personal loan to pay it off.

I'm hoping there is someone here who may be in the market for a triple black TrailHawk and is able to work with him. I'm merely assisting him as I have a background working in dealerships and buying/selling my own cars as a hobby. I've created ads on Craigslist, Cars.com and Autotrader. Links to those ads and pictures below.

Willing to work with anyone patient here. No scam, just a guy stuck in a pickle and trying to get out of it without losing more than he already has. We're both professionals and can provide personal information for validation purposes. My name is Adam - It's my contact info in all the postings.

https://detroit.craigslist.org/okl/cto/d/royal-oak-2019-jeep-cherokee-trailhawk/7013836305.html

https://www.cars.com/vehicledetail/detail/786904729/overview/?siyListing=true

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=528720635

 

[Mr LeRoy]

It might help your sales prospects to list all the specific options that this Trailhawk has. Some of the ads have terms like "sunroof," "leather seats," "premium sound," "heated seats" and such embedded in the details. From what I can see it does have Navigation, but I can't see or verify any of the other possible options. To the extent that it has value-enhancing features, it would help to spell them out.

 

[sqenixs]

It might help your sales prospects to list all the specific options that this Trailhawk has. Some of the ads have terms like "sunroof," "leather seats," "premium sound," "heated seats" and such embedded in the details. From what I can see it does have Navigation, but I can't see or verify any of the other possible options. To the extent that it has value-enhancing features, it would help to spell them out.

https://windowstickerlookup.com/. Very useful website when I was looking for a Jeep.

 

[UN4GTBL]

Here's the window sticker based on the VIN in the CL add:

https://www.chrysler.com/hostd/windowsticker/getWindowStickerPdf.do?vin=1C4PJMBX8KD404950

 

[Reel Crazy]

Take it to CarMax, is one in your area? They buy it on the spot.

 

[3Rivers]

Here's the window sticker based on the VIN in the CL add:

https://www.chrysler.com/hostd/windowsticker/getWindowStickerPdf.do?vin=1C4PJMBX8KD404950

For those who may be interested in buying: The two options on this Cherokee are the Black Painted Wheels (as seen in the photos) and the Cold Weather Group.

The CWG is a must for any Latitude Plus or regular Trailhawk used north of the Sun Belt, IMO, to get the heated seats and steering wheel.

 

[ArizonaFred]

What is the 15-30 day release about? I don’t understand that...


Sent from my iPhone using Tapatalk

 

[JeffD]

I am a former banker so here is a bit of perspective on financing.

Most folks won't be paying cash for your friends Jeep. They likely will finance it. It is common practice for banks to deal with the bank to bank exchange of the title. Your friend would sign a "authorization to payoff" for the buyers bank, as well as a "power of attorney".

The buyers bank would then issue a cashiers check or wire to the bank that currently has the title along with a copy of the "authorization to payoff". The bank being paid off issues the released title directly to the buyers bank directly. No risk to either the buyer or seller that way.

It is not uncommon for a bank to need up to 60 days to release a title which is satisfied for cash just due to the time it takes for large collateral departments to process the documents. In fact, for many years US Bank shredded the new car titles, then when they were paid off, they issued a affidavit of lost or destroyed title rather than have to house the physical vehicle title.

Give your friend this information that way they can encourage a buyer to finance the Jeep with a direct bank to bank payoff and everyone is ensured a successful outcome.

 

[Adam King]

Take it to CarMax, is one in your area? They buy it on the spot.

The dealers we've contacted including Carvana have been around $23.5k-$24k. Too far below what he can do. I assume CarMax would be similar.

 

[Adam King]

I am a former banker so here is a bit of perspective on financing.

Most folks won't be paying cash for your friends Jeep. They likely will finance it. It is common practice for banks to deal with the bank to bank exchange of the title. Your friend would sign a "authorization to payoff" for the buyers bank, as well as a "power of attorney".

The buyers bank would then issue a cashiers check or wire to the bank that currently has the title along with a copy of the "authorization to payoff". The bank being paid off issues the released title directly to the buyers bank directly. No risk to either the buyer or seller that way.

It is not uncommon for a bank to need up to 60 days to release a title which is satisfied for cash just due to the time it takes for large collateral departments to process the documents. In fact, for many years US Bank shredded the new car titles, then when they were paid off, they issued a affidavit of lost or destroyed title rather than have to house the physical vehicle title.

Give your friend this information that way they can encourage a buyer to finance the Jeep with a direct bank to bank payoff and everyone is ensured a successful outcome.

That's good info. It adds a layer of difficulty. Not many people are willing to wait that long for a transaction like this.

Also, Michigan is a title holding state. He's got the title with a lien on it. All that is needed is the lien release. You'd figure the money hits the account, the lien is released, and a notarized letter is sent. Guess not.

 

[Rand]

FWIW I paid almost 10k off msrp on my 36.5k msrp(28k out the door IIRC) 2019 trailhawk in june 2018 when they were fresh and new.


SELLING a year old vehicle (2020's out now) used new owner has to pay sales tax on full amount etc...


I'd say its a 23-24k car unless you can find the right buyer.

 

[Wes]

This is what Kelly blue book says

Just an FYI. KBB says this for it in Missouri. That’s with 16,500 miles.