Used Vehicle Pricing

spenpet · April 14, 2020

Good morning...I wanted to see if anyone else has been shopping for a used GM large SUV? (Tahoe, Yukon, Suburban, Yukon XL) We have been window shopping for a little while now...and I was getting really close to a deal for a used 2019, with less than 30k miles. I started reading some articles that are indicating the supply market is building up on these (probably all vehicles) in whole sale auctions, rental fleets, corporate fleets, lease returns etc...but no where to sell them... the demand has dropped out...some are estimating used car prices will drop 10% and stay lower longer than back in 2008.

I was curious what/if any experiences you have had while shopping for a used vehicle? I'm not sure the dealers have really had the wave him them yet...but I'm sure its coming...

good or bad experiences?

Thanks in advance for the discussion.

mikemcclain8 · April 17, 2020

I recently bought a 2015 Suburban LTZ from a GMC dealer in Arkansas. We looked for a few months within a 200 mile radius and found they were all pretty competitive in pricing. They negotiated fairly, in my opinion, and had good follow up when I had questions. My guess is that purchases overall are down which can lead to increased surplus, but it may be region dependent as well. This site would be helpful in discovering issues prior to purchasing a used vehicle, so I would encourage you to search. For example, I didn't realize the wireless phone charger in the 2015 was different than the 2016 and wouldn't work with my iphone 8. Also, the 2016 went to applePlay whereas the 2015 didn't have it. Just a few minor things that may have swayed my purchase had I looked in advance.

spenpet · April 20, 2020

On 4/17/2020 at 2:13 PM, mikemcclain8 said:

I recently bought a 2015 Suburban LTZ from a GMC dealer in Arkansas. We looked for a few months within a 200 mile radius and found they were all pretty competitive in pricing. They negotiated fairly, in my opinion, and had good follow up when I had questions. My guess is that purchases overall are down which can lead to increased surplus, but it may be region dependent as well. This site would be helpful in discovering issues prior to purchasing a used vehicle, so I would encourage you to search. For example, I didn't realize the wireless phone charger in the 2015 was different than the 2016 and wouldn't work with my iphone 8. Also, the 2016 went to applePlay whereas the 2015 didn't have it. Just a few minor things that may have swayed my purchase had I looked in advance.

I have been window shopping for a while to get a feel for what the market looks like...I haven't seen the significant swings yet, but have a feeling its coming...we plan on holding off a month or so to see what happens. hope you enjoy your Suburban! We are looking forward to getting into one soon enough!

Mandalorian · April 20, 2020

FYI 2015s have by far the most issues out of any MY. Would advise to avoid them.

spenpet · April 21, 2020

22 hours ago, Mandalorian said:

FYI 2015s have by far the most issues out of any MY. Would advise to avoid them.

we are 'shopping' for a 19, with less than 30k miles...there are plenty in the market place...and per my original post, I believe even more in surplus that hasn't hit the market yet...unless we get a killer deal on an 18 (and can even find one with less than 30 k miles) we'll probably be getting a 19...

are there a ton or at least notable issues with them I should be aware? In my research I haven't came across a ton...there are, of course, the one offs, but haven't come across widespread issues...maybe the 6 sp tranny might be the closest thing? (we plant to get a CPO, so hopefully that will be covered for 100k miles)

mikemcclain8 · April 21, 2020

23 hours ago, Mandalorian said:

FYI 2015s have by far the most issues out of any MY. Would advise to avoid them.

I have heard/read that as well. I have not had any issues yet but it only has 67k miles on it so perhaps the future. For now, its a great vehicle.

Mandalorian · April 21, 2020

5 hours ago, spenpet said:

we are 'shopping' for a 19, with less than 30k miles...there are plenty in the market place...and per my original post, I believe even more in surplus that hasn't hit the market yet...unless we get a killer deal on an 18 (and can even find one with less than 30 k miles) we'll probably be getting a 19...

are there a ton or at least notable issues with them I should be aware? In my research I haven't came across a ton...there are, of course, the one offs, but haven't come across widespread issues...maybe the 6 sp tranny might be the closest thing? (we plant to get a CPO, so hopefully that will be covered for 100k miles)

18-20 have pretty much all of the bugs worked out. The infotainment system was updated for 2018, so it's a lot less buggy. Otherwise, the 8-speed trans is one to avoid if you consider a Yukon Denali. The shark fin antennas can be defective needing replacement, which is common with the K2 trucks/SUVs and minor. There are also instances of failing rear A/C condensers, but that seems mostly relegated to MY 15-16.

spenpet · April 22, 2020

18 hours ago, Mandalorian said:

18-20 have pretty much all of the bugs worked out. The infotainment system was updated for 2018, so it's a lot less buggy. Otherwise, the 8-speed trans is one to avoid if you consider a Yukon Denali. The shark fin antennas can be defective needing replacement, which is common with the K2 trucks/SUVs and minor. There are also instances of failing rear A/C condensers, but that seems mostly relegated to MY 15-16.

thanks for the info! very helpful! how bad does the rear AC condenser hurt to replace?

Mandalorian · April 23, 2020

11 hours ago, spenpet said:

thanks for the info! very helpful! how bad does the rear AC condenser hurt to replace?

The good news is the warranty on them was extended to 60k miles, and the issue was resolved after MY 2017. The bad news is it cost owners something like $1000-1500 out of warranty.