Trade In Values Insane!

Brian Giles · June 26, 2021

I'll add to this. Had the dreaded condenser leak on the 2018 Sierra Z71 @59,233 miles as I got to the dealership 2 days ago. After a quote for $1700 to replace (GM Book states they have to remove bumper, etc.. Stupid, but that's a different story), I told them no. Salesman told me he'd get me what I paid for it towards a new truck. Ok..... Sure thing fella. I've got time.

I bought the 2018 2 years ago with 7,200 miles on it for 44,500. The 2021 White RST/Z71 had a 56K sticker on it. They dropped the price 2, gave me 44K for my trade. It had 59K miles on it, broken A/C condenser (they'll fix it cheaper) and small dent where the tire dealership backed it into a bollard (still have the brand new OEM bumper in the box in the garage that they bought me - Chevy didn't want it).

Dealership dropped 2K off MSRP, and then gave me all 3500 in rebates. I feel like I robbed them. I'm extremely happy with my new truck.

Edited June 26, 2021 by Brian Giles

Dirk13 · June 26, 2021

KBBs algorithm is smoking crack.

2021 RST Z71 LM2 with 5k mi.

Trade in mid range: $58,758

$10,000 actual dollars more than I paid for the truck and $2000 more than the window sticker! There is no way that is possible.

KARNUT · June 26, 2021

The car-pro radio show this morning says the trade in bobble may be reversing. The Wednesday auction show a reduction in diesel pickups this week. To find out your vehicle value go to. Give me the vin.com/carpro. Check out car pro.com.

Dnt · June 26, 2021

I went ahead and sold mine yesterday it was a 2019 Denali it brought 61k, this is the truck that I paid 52k for in Dec 2019 (I never changed my pic on here) Was a 2019 white frost tricoat really nice truck, the KBB was showing 57840 Carmax was 59k. Interesting thing is carmax offer from Sept 2020 was 50k I took it to a couple of dealerships and the sales manager at a Ford Dealership was slobbering all over the hood since it had less than 5000 on te odometer LOL and wrote me a check for 61k. The GM dealerships were much lower one guy said well we sell these here so your not going to maximize a price here?

I never really liked the 2019 and newer body style and I just was not fond of the truck from day 1. So for me it was a great deal to just sell it outright and move on with a 9k profit.

My old beater Chevy Tahoe will hopefully hold up until the new trucks have a significant redesign and regain their buyer incentives.

I can be very patient when needed LOL

Edited June 26, 2021 by Dnt
clarity

KARNUT · June 26, 2021

I pass my local GMC, Hyundai dealer daily. I’ve bought loads of vehicles there. A large dealer. There’s acres and acres of nothing. Usually full of trucks. The Hyundai side blowing and going. Amazing.

Dunn · June 27, 2021

On 6/25/2021 at 5:39 PM, 2017GMCALLTERRAIN said:

Hello everyone, I hope all is well in the GM fam. I’ve been looking through some topics and I wanted to share my experience I’ve had with this. I recently traded in my 2017 Sierra SLT all terrain package for a 2021 Sierra Denali baby dura and boy do I love this truck! I bought my 2017 brand new sticker price 57k with incentives during that time it brought the truck down to 45k so I traded in my 2014 (which I also bought brand new at the time) for that sweet sweet beautiful truck. Like this topic starts I randomly stumbled on to the value of my truck on KBB and it was prices at 42k-45k after 4 years of ownership granted my drive to work is only 2 miles from my house (30k miles on the truck). After going to 3 separate dealers in my area all of them are also doing the mark ups for the 2021 models anywhere between 2.5k - 5k. Anyone in their right mind should never pay for a mark up over MSRP, if you do you’re making a huge mistake. So yes there is inflation that is driving the prices of the used car market through the roof and the dealers know this and try to blame it on the “chip shortage”. I did find a dealer that was not marking up their trucks over MSRP but they did not want to give me what my truck is currently valued at from these car sources. In my case I refuse to pay anything over MSRP and so the search began to find a dealer that was not doing the mark ups. I ended up finding one 2 hours away from where I currently live and that’s where I went. On the dealers website they had a “value my trade in” options which they used KBB. They gave me 43k on my trade in (I still owed 20k) and I was able to get the incentives off my new Tri-coat white Denali baby dura. What I’ve learned is if you want to get a deal done without the so called “mark up” and get full value for your truck you need to go to a more rural area that won’t mark up theirs trucks to get people to come and buy. For those who are wanting to trade in there 2020’s to make 2k-3k off the top you’re making a grave mistake… nothing, and I mean nothing will ever put the same smile on my face as hopping into my Denali every morning for work. You can’t put a price on happiness! FYI if you’re going to go with the current incentives you have to finance through GM to get the 5k off. The lowest interest rate that they offer to my understanding is 4.2% I ended up getting a 5% rate with a 790 credit score. It made no difference to me because I was going to refinance anyway. There is a catch, you have to make 6 payments before you can actually refinance without penalty so this is something to think about if you do choose to buy right now.

They say that but in many cases you can refinance b4 the first payment even comes in the mail....I know here you can.....there is a $500 rebate to finance with GM currently I believe....its kind of vague as some offer $3800 and $500 to finance

Grumpy Bear · June 27, 2021

Curious. You sell your $50K truck for $60K to a dealer who will sell it for.....????

So...what are you buying?

Dirk13 · June 27, 2021

5 hours ago, Grumpy Bear said:

Curious. You sell your $50K truck for $60K to a dealer who will sell it for.....????

So...what are you buying?

I wanted a Sierra so if the dealer will actually give me the KBB trade in I listed above for my Silverado I’ll just get one of the 40 Sierras they have listed on the website either on the lot in transit. Maybe even a Yukon or Tahoe.

It doesn’t make sense to me. Why would someone pay 10% above MSRP for a used truck when there are new ones to be had at MSRP with rebates/incentives. Sure, supply is low but it isn’t zero and in my area no one is marking new trucks up above MSRP.

KARNUT · June 27, 2021

2 hours ago, Dirk13 said:

I wanted a Sierra so if the dealer will actually give me the KBB trade in I listed above for my Silverado I’ll just get one of the 40 Sierras they have listed on the website either on the lot in transit. Maybe even a Yukon or Tahoe.

It doesn’t make sense to me. Why would someone pay 10% above MSRP for a used truck when there are new ones to be had at MSRP with rebates/incentives. Sure, supply is low but it isn’t zero and in my area no one is marking new trucks up above MSRP.

People are sheep. As soon as any kind of event happens people panic. I can’t believe people don’t have at least a month supply of basic goods, food or toilet paper. On but very few vehicles I didn’t drive out with 10K under MSRP. I’m still amazed people can’t make coffee at home. Or drive a full size p/u as a family vehicle. Even my mother who’s 81 drives a one ton Ford diesel. When it’s windy cops pull her over says she’s weaving. High center of gravity. Tell people the can’t have or it may be in short supply for awhile. Watch out and stand back.

Edited June 27, 2021 by KARNUT

Adamace1 · June 27, 2021

1 hour ago, KARNUT said:

People are sheep. As soon as any kind of event happens people panic. I can’t believe people don’t have at least a month supply of basic goods, food or toilet paper. On but very few vehicles I didn’t drive out with 10K under MSRP. I’m still amazed people can’t make coffee at home. Or drive a full size p/u as a family vehicle. Even my mother who’s 81 drives a one ton Ford diesel. When it’s windy cops pull her over says she’s weaving. High center of gravity. Tell people the can’t have or it may be in short supply for awhile. Watch out and stand back.

Really? You can't belive people don't plan to have a safe and smart plan for if something is in short supply?

60,000,000 people want to not have police. 60,000,000 wanted the storming and the take over of the capital to result in Supreme leader Trump staying in power for life. 60,000,000 believe covid is fake, and bill gates controls people by putting micro chips into it. 60,000,000 people belive that people who didn't vote for Trump, molest children, then eat them and that they are aliens from outer space, they use the skin from the babies to cover their alien bodies so they look like normal people. Millions and millions of people have been stocking up on ammo, for years saying the Civil War is comming. I'm talking 20,000 to 100,000 of rounds per person.

You really can't believe these people panic when they hear something going to be in short supply? Some of them are calm and will say if there's a national shortage of food or energy, ect they have enough guns and ammo to get what their families need.

Edited June 27, 2021 by Adamace1

KARNUT · June 27, 2021

4 minutes ago, Adamace1 said:

Really? You can't believe?

60,000,000 people want to not have police. 60,000,000 wanted the storming and the take over of the capital to result in Supreme leader Trump staying in power for life. 60,000,000 believe covid is fake, and bill gates controls people by putting micro chips into it. 60,000,000 people belive that people who didn't vote for Trump, molest children, then eat them and that they are aliens from outer space, they use the skin from the babies to cover their alien bodies so they look like normal people. Millions and millions of people have been stocking up on ammo, for years saying the Civil War is comming. I'm talking 20,000 to 100,000 of rounds per person.

You really can't believe these people panic when they hear something going to be in short supply?

I guess you missed the part when I said people are sheep. I suggest you look at more than one information channel. Other than the one that has less than 1 million viewers.

Grumpy Bear · June 27, 2021

8 hours ago, Dirk13 said:

I wanted a Sierra so if the dealer will actually give me the KBB trade in I listed above for my Silverado I’ll just get one of the 40 Sierras they have listed on the website either on the lot in transit. Maybe even a Yukon or Tahoe.

It doesn’t make sense to me. Why would someone pay 10% above MSRP for a used truck when there are new ones to be had at MSRP with rebates/incentives. Sure, supply is low but it isn’t zero and in my area no one is marking new trucks up above MSRP.

The dealer is the house and the house never ever looses or it is no longer A house. Something fishy is going on. I'm guessing it is manipulation of the MSRP which is a random number anyway and has nothing to do with anything but the dealers first price pitch. Imagine a sale where he gives you more than it's worth and sells for less than he has in it. Nets sale is a loss. These guys make money on both ends of the trade. If he is buying out right over value he's selling even higher. Where are those trucks he's buying going? On the lot to compete with used trucks an near or above the same price? Watch their lips closely. If they move....it's a lie.

Edited June 27, 2021 by Grumpy Bear
Spelling

KARNUT · June 27, 2021

Most buyers will net the same. More for trade in. Less off msrp. It’s about a wash. This is according to car-pro. Especially if you use their buying tools. And yes most dealers puff. Most of my buys are CPO, or discounts. With no emotion. Except for, 94 impala, 01 type r and 06 trailblazer ss. The difference was covered when later sold. When I see paper plates today. I think that had to hurt. My son bought two fairly new vehicles during covid. He bought from rental car companies. One was a Buick large SUV. About a year later it’s worth thousands more. He’s thinking about selling and getting a Malibu. His second. It’s one of the slowest selling vehicles right now. Same as a Ford Fusion. Doing that will make anyone a killing. Truck, SUV for a car.

Adamace1 · June 27, 2021

7 hours ago, KARNUT said:

I guess you missed the part when I said people are sheep. I suggest you look at more than one information channel. Other than the one that has less than 1 million viewers.

Not sure what you mean by information "channel" . I was just stating facts I have seen with my own eyes. People from all walks of life don't plan, and just live for the day. And when they want something the want it right now.

The whole "sheep" thing is crap. I'm so tired of having to watch young man and yell at and belittle older workers in stores because their trying to do there jobs. The real "sheeps" are the one yelling and screaming, and punching, pushing down people because uncle Trump tells them to. One of the worst things I have seen is elderly veteran being treated like crap and pushed down onto the ground by a Trump loving man calling him a "sheep. Truth was that man was still trying to earn a living. Fought for our country. The young sheep calling man, is on welfare, food stamps and treats everyone like crap. They think the world revolves around them. I'm sure part of it is they had bad selfcentered parents that didn't teach them anything, and a low IQ would seem to be why they have no empathy for anyone else.

Again I use my mind and make judgment based on people I meet, and how people treat each other. I don't watch it on tv, I hear people's words come out of theirs mouths.

Edited June 27, 2021 by Adamace1

KARNUT · June 27, 2021

1 minute ago, Adamace1 said:

Not sure what you mean by information "channel" . I was just stating facts I have seen with my own eyes. People from all walks of life don't plan, and just live for the day. And when they want something the want it right now.

The whole "sheep" thing is crap. I'm so tired of having to watch young man and yell at and belittle older workers in stores because their trying to do there jobs. The real "sheeps" are the one yelling and screaming, and punching, pushing down people because uncle Trump tells them to. One of the worst things I have seen is elderly veteran being treated like crap and pushed down onto the ground by a Trump loving man calling him a "sheep.

So think it’s better now, dear God. Just in 6 months everything cost more. Everything. Not political, just facts. Take a trip to the border with Mexico. My goodness man it’s awful. You happy with that? That’s just cruel. I know I’m wasting my time. Enjoy the kook-aid.