Used prices and "the recall"

[JJKNIGHT]

It took me a few months to find a good deal. I bought a 2015 Tahoe LTZ in 11/2020 for 28k. Only thing is it had 104k miles on it but it’s in excellent condition. Really have to look around and be open to drive far to get one. I drove 5 hours to get that one.

AMEN, Look around, you can find a good deal.
May need a little maintenance but dang man, they drive so good!
JJ

 

[EvergreenZ71]

And I’m not convinced that the recall availability doesn’t have a local component. I had some work done on my 2010 Sub 2500 to try to eliminate the memory mirror issues with the replacement towing mirrors and when I picked it up they let me know they had done the airbag recall since it was in and they had time.

The other factor that could be involved with “low mileage” vehicles going back to the auction could be the increase in odometer alterations. If they suspected the odometer could have been falsified its would save them money to let it go than risk selling it and getting sued later (both for the payout & the bad PR).

 

[Jeff O]

My '03 Tahoe sticker price = $43K. Today same options = $65K. To be remembered for comparison is most today are super loaded with max electronics not available back then, so typical is even more than my basic. I see Suburbans at $90K+. These are desirable vehicles to many, and one in good shape is a premium price. Basic law of supply and demand. Who the hell would want a Durango anyway?

 

[07Burb]

True, but even then, $10K more can get you in a 2020 Durango R/T with a Hemi and 20K miles. $28K is strong for a 9 year old Tahoe LT with few options.

Not a chance a Durango or Nissan or Jeep can compare to these. Those aren’t even close to fullsize SUVs.

but like the others have said, new suv prices being so high and the delay of the new rigs equals our used ones keeping their values. My 13 LTZ has just 48k on it but I’m not even considering selling lol

 

[Sobro]

I bought my 2012 Denali end of February. 124k miles and the sales price was $16,500. It has some scratches and a fender scrape. Two things... if you're looking at vehicles with much lower than the average 15k miles per year they will be snatched up quickly. Also, with the prices going up and up how can you assume that the trucks were sent back to auction due to the recall when another explanation is that they could make a hefty profit just by sending them back to auction, thus clearing out lot space and not having to make floorplan (loan to car dealers) payments on them.

 

[jasonb100272]

So what is up with the insane prices for used triplets from this era? $28K for a 2012 Tahoe LT with 50K miles? Holy %$#@! There are others equally high. I can get a used 2020 Nissan Armada with 34k miles (yeah, I know it's a Nissan) for $31K! Also, I have inquired about 3 other vehicles (2 Escalades and a Yukon) with low miles that have mysteriously disappeared from dealer lots. On all three I was told they were returning to the auto auction. Surprising given the crazy prices out there. Or are the dealers (these were GM) afraid to sell these with a safety recall and no parts?

Greg

From what I have been told from several friends that own or manage dealerships there truly is a vehicle shortage. Some dealerships are taking there trades to auctions because prices are high. Hence quick profit vrs paying intrest on inventories sitting on there lots. I was told about a week ago it will be at least a yr before new car inventories will rebound. Then used inventories will follow. Unless you need one for your business or replacing one because of its beyond repair . Sit tight. If it was a matter of 2-3 grand extra I would say ok pick out what you want but since market is dictating $5-10 grand over a yr ago markets . Im holding on to my dinosaur. I hope this made sense.

 

[91RS]

COVID supply and demand. New car inventory is down so people are buying used who normally wouldn’t. People were already keeping their good used vehicles longer and longer because prices for new stuff keeps going up.

 

[MN-TAHOE]

Bought a 99 Tahoe 2dr with 90K for 20K. I was searching exclusively for a 2dr as I had had one b/4. This vehicle had sat in CA for 20+ yrs. Had it shipped to MN & was going to introduce it to snow but we have not had much of a winter this yr. I have been very happy considering there is not one bit of even surface rust whether on the frame or the body. It has the trailer towing package but the stock wiring harness has never been used! If you can find one in this condition BUY IT because it is a great vehicle. This is why they are commanding the price. Great 4X4's with excellent road abilities & save 30K vrs a new vehicle.

 

[Summajet]

Try finding a 4-door chevy silverado 4x4 for under 12,000 with 180,000 miles. Same truck i saw last year was 6,500

 

[stevedonato]

So what is up with the insane prices for used triplets from this era? $28K for a 2012 Tahoe LT with 50K miles? Holy %$#@! There are others equally high. I can get a used 2020 Nissan Armada with 34k miles (yeah, I know it's a Nissan) for $31K! Also, I have inquired about 3 other vehicles (2 Escalades and a Yukon) with low miles that have mysteriously disappeared from dealer lots. On all three I was told they were returning to the auto auction. Surprising given the crazy prices out there. Or are the dealers (these were GM) afraid to sell these with a safety recall and no parts?

Greg

Try using www.carcomplaints.com to find the right year to buy. They list All manufactures, all models and all years of complaints, recalls and bulletins

 

[mike1946]

just traded in 2015 Tahoe LTZ. Had 51K for mileage, the gave me $34K for a trade in on a 21 Escalade that I ordered in December. Was able to use a supplier discount. Thought that it was a fair deal all the way around.

 

[vcode]

A couple of things I have observed about price and region, lately I have been tracking new Yukons. Without a doubt, the most aggressive dealer's pricing wise are located in the upper midwest. Out here, the local guy took all his discounts off maybe a month ago.

As far as dealers sending used cars to auction from inventory. There can be a lot of motivations, much of which can be driven by inventory financing. The covenants of their flooring loans can be pretty arcane, driving seemingly crazy behavior, at least to those that don't understand the financing terms. I had a friend in the business and until I fell asleep, he explained how some of his inventory loans worked, which drove a lot of his decisions stock wise.

So I was at my local Chevy dealer today, picking up something at the parts department and browsing. A sales manager came up to me to run their usual sales pitch. I told him unless my trade (2010 LT w/80K miles) was worth more than I thought, I doubt I would do anything. Nice truck he said, does it have the airbag recall? Yep. Too bad he said, we would take it on trade but it will go straight to auction. We will not sell a Tahoe with the open airbag recall, period. It is not worth the risk. This is a big dealer and there was nothing of that vintage, pickup or SUV, anywhere to be seen. Interesting.

 

[vcode]

Where are you from?

Milwaukee-Chicago area.

 

[wsteele]

So I was at my local Chevy dealer today, picking up something at the parts department and browsing. A sales manager came up to me to run their usual sales pitch. I told him unless my trade (2010 LT w/80K miles) was worth more than I thought, I doubt I would do anything. Nice truck he said, does it have the airbag recall? Yep. Too bad he said, we would take it on trade but it will go straight to auction. We will not sell a Tahoe with the open airbag recall, period. It is not worth the risk. This is a big dealer and there was nothing of that vintage, pickup or SUV, anywhere to be seen. Interesting.

Pretty amazing response, given the zero liability on his part, the fact that there has never been an injury due to a failed airbag deployment (or a failed airbag deployment) in the fleet and the fact that my car got its new airbag last week.

Dealers can be squirrelly though.

 

[wsteele]

Just did a quick Autotrader check in your area. On the first page of results, half the Tahoe's for sale at dealerships have the outstanding recall (just click on the Carfax logo on the page). Doesn't seem to bother a lot of dealers in the Chicago area.

 

[vcode]

Just did a quick Autotrader check in your area. On the first page of results, half the Tahoe's for sale at dealerships have the outstanding recall (just click on the Carfax logo on the page). Doesn't seem to bother a lot of dealers in the Chicago area.

He said DMV laws in Illinois are more lax than in Wisconsin, which I know is true when it comes to advertising sale prices. He could have also just been using it as an excuse to negotiate a lower trade-in price. Didn't get that far. What was also strange is that they only had about 1/3 their normal inventory of new vehicles while the Honda dealer down the road looks like a staging area for the entire state of Wisconsin!

 

[Sparksalot]

He said DMV laws in Illinois are more lax than in Wisconsin, which I know is true when it comes to advertising sale prices. He could have also just been using it as an excuse to negotiate a lower trade-in price. Didn't get that far. What was also strange is that they only had about 1/3 their normal inventory of new vehicles while the Honda dealer down the road looks like a staging area for the entire state of Wisconsin!

Many sales lots are empty right now. The chip shortage is causing shipping delays for new vehicles.

 

[wsteele]

Many sales lots are empty right now. The chip shortage is causing shipping delays for new vehicles.

No doubt. I was in my local dealer last week getting the airbag swapped. Their new truck lot looked like now was a good time to resurface the asphalt, maybe 15% capacity. Very strange looking.

 

[Sparksalot]

No doubt. I was in my local dealer last week getting the airbag swapped. Their new truck lot looked like now was a good time to resurface the asphalt, maybe 15% capacity. Very strange looking.

I noticed the same when we went in to order my wife’s Bronco. Also absolutely ZERO cars. Only trucks and suvs.

 

[wsteele]

I noticed the same when we went in to order my wife’s Bronco. Also absolutely ZERO cars. Only trucks and suvs.

At my GMC dealer, all he gets are Trucks and SUV's and it is deserted. I wonder if some of it is also Covid related, as it seems his inventory has been really low for a few months at least.

One strange thing is the dealer a little farther away (2 towns over) and is kind of the volume/price leader in the general area has a pretty decent inventory, not up to boom times I have seen in the past, but still a lot better than our closest guy. Maybe the dealership who does the most volume gets first dibs.