Cost of used Tahoes

[Larryjb]

...
1) just refi'd my house at 2.25% on a 15 yr mortgage
....

I just refinanced for 1.67. (could gone lower if I went for a 3 year term)

It's crazy, but it is almost cheaper to restore my Tahoe than replace it. It's actually in good shape, but there is some rust starting. Brake lines should be done soon.

 

[1BADI5]

I just refinanced for 1.67. (could gone lower if I went for a 3 year term)

It's crazy, but it is almost cheaper to restore my Tahoe than replace it. It's actually in good shape, but there is some rust starting. Brake lines should be done soon.

Congrats!

Yeah with the cost of the new ones it's way cheaper to restore.......even with some rust repair and paint

 

[bruce kelly]

prices of all used vehicles are up now because factories can not ship due to lack of computer chips

 

[Larryjb]

I don't think the chip problem can affect the used prices that much. However, I can see that the move away from mass transit has created a seller's market for used vehicles. Even that can't be the only factor because many who used mass transit before are just working from home. If they were using mass transit before and looking for a car, I'd think most of them would be looking into purchasing a compact car instead of a Tahoe or Suburban.

 

[Shunto]

See?
What did i tell yawl I should've grabbed that 14 Tahoe out of TX.
Oh well.... enjoy your Stimmy..

 

[tom3]

Saw an item on the news last week, big car dealer. Had four vehicles on the lot, three were in sales process. Said this year so far broke all records for sales, but almost nothing coming in for now. Crazy times.

 

[Matthew Jeschke]

Result of banks giving very low interest rates and fed printing money like there is no tomorrow. the consequences are fast approaching. We have virtually no inventory left in real eatate where I work. More so, scary times.

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[cbuckeye20]

I don't think the chip problem can affect the used prices that much. However, I can see that the move away from mass transit has created a seller's market for used vehicles. Even that can't be the only factor because many who used mass transit before are just working from home. If they were using mass transit before and looking for a car, I'd think most of them would be looking into purchasing a compact car instead of a Tahoe or Suburban.

Definitely not mass transit, there are only a few cities in the states where mass transit is even reliably feasible to get around, the very large majority are in personal vehicle bound living areas.

I've got a gaming friend who's dad owns a bunch of toyota/GM owned brand dealerships in the south, and he said it was a combo of chip shortage + production shutdowns when COVID. Toyoto runs lean with their production, so a factory shutdown instantly affected supply. GM had a huge surplus of cars in early 2020, however they were much slower to ramp back up on production.

Now with the chip shortage both are having trouble cranking out cars.



These 2 factors are driving people towards used, and increased demand means increased prices... much like a GPU these days (bloody damn scalpers). Their Dealer Transfer drivers are being sent out with checks paying MSRP for vehicles just to get inventory for their customers

 

[Larryjb]

Well, this popped up in our local news today:

https://www.citynews1130.com/2021/05/03/bc-suv-sales-pandemic/

Our housing market is just as crazy. People are seriously overbidding on properties, and overspending on vehicles. This can't be sustainable.

 

[wsteele]

Well, this popped up in our local news today:

https://www.citynews1130.com/2021/05/03/bc-suv-sales-pandemic/

Our housing market is just as crazy. People are seriously overbidding on properties, and overspending on vehicles. This can't be sustainable.

Here is what Ben Bernanke in 2007 said to congress about the subprime lending mess.

https://www.cnbc.com/id/18718555

Anyone who thinks the Fed is going to stick the landing this time around is either very young or very dumb.

 

[Stbentoak]

Well, this popped up in our local news today:

https://www.citynews1130.com/2021/05/03/bc-suv-sales-pandemic/

Our housing market is just as crazy. People are seriously overbidding on properties, and overspending on vehicles. This can't be sustainable.

Until supply and demand come into balance ( Predicted at at least 2-3 years...) this ABSOLUTELY can continue. People that worked thru the pandemic at home and kept their salaries, and people with smart investments that have grown immensely are sitting on TONS of money.
This ain't 2008-09. Banks aren't financing to people on shoestrings any longer, and their financial position is much better.
Things may slow down, ( TO NORMAL?) but with the fed keeping interest rates at an attractive level well into the future... the demand for housing and vehicles will be there. Consumer demand is pent up and huge, and this time they have money behind them for down payments etc...

 

[Pet982]

About 2 months ago when I bought my Tahoe, I looked at a 15 LTZ with 80K on a dealers lot for 32K. I had bookmarked the webpage for that truck and just the other day I clicked on the bookmark, The dealer still has it and its now going for 37K.

 

[BlaineBug]

About 2 months ago when I bought my Tahoe, I looked at a 15 LTZ with 80K on a dealers lot for 32K. I had bookmarked the webpage for that truck and just the other day I clicked on the bookmark, The dealer still has it and its now going for 37K.

That's somewhat of a long time to still be on the lot isn't it? And they are raising the price?

Considering what they gave the poor sap on trade in (probably half that or less?) you'd think they'd drop it a few thousand to get it sold asap.

 

[BlaineBug]

I'm looking at Carmax right now (which is where I got my 2019 Yukon SLT 4x4 in December of 2019 for $42,998 with 34,000 miles) and this is what you can get currently;

1) 2018 Suburban LS 4x4 with 33,000 miles for $43,998.
2) 2020 Tahoe LT 4x4 with 34,000 miles for $51,998.
3) 2017 Yukon Denali 4x4 with 71,000 miles for $47,998.
4) 2017 Yukon SLE 4x4 with 36,000 miles for $39,998

There's more available than this but it's less than it was a year and a half ago, they had much more inventory, however this gives you an idea as to Carmax's pricing. I still feel their pricing is better than any dealer. Agree/disagree?

PS, this is also in the Chicagoland area/northwest Indiana. Most of the vehicles are somewhat local but I'm seeing an Ohio and Kentucky vehicle as well, it seems that their nationwide availability is low. I remember seeing all sorts from New York, California, etc. Nada right now in regards to the Chevrolet/GM full size SUV platform.

EDIT - Nevermind. I did not have "nationwide" selected. They have much more than I originally reported above. I originally was only shown vehicles within 250 miles.

 

[Shunto]

Well, this popped up in our local news today:

https://www.citynews1130.com/2021/05/03/bc-suv-sales-pandemic/

Our housing market is just as crazy. People are seriously overbidding on properties, and overspending on vehicles. This can't be sustainable.

Buddy of mine just closed on his place.. Had bidding war ..$15k OVER his asking price... Long Island NY... Never saw this before.

 

[Bob2C]

Buddy of mine just closed on his place.. Had bidding war ..$15k OVER his asking price... Long Island NY... Never saw this before.

Yep. More like insane. House sold in my neighborhood 150k over asking before it even hit the market. WTH.


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[Philpug]

I am in the process of replacing our 2008 Yukon XL SLT w/180K. Carvana and others are quoting $6-7K. I am fine with that as an easy sale and not deal with buyers and test drives.

I just ran our car though CarMax and now the number is in the mid 7's. As soon as our 18 hits the ground, off to CM to sell the 08.

 

[BG1988]

IF you want a SUV come to california the Gas prices are 4.50 a gallon you can buy a used GM SUV cheap Still at 2018 prices!

2012 tahoe 90k miles for $10,900


2012 chevrolet tahoe - cars & trucks - by owner - vehicle automotive... (craigslist.org)



123k $16k

2014 4x4 Tahoe - cars & trucks - by owner - vehicle automotive sale (craigslist.org)


ultra low miles $30k 65k miles
2014 Chevy Tahoe LTZ - cars & trucks - by owner - vehicle automotive... (craigslist.org)

 

[Stbentoak]

I just ran our car though CarMax and now the number is in the mid 7's. As soon as our 18 hits the ground, off to CM to sell the 08.

I ran the # thru CM on my 2014 JeeP GC and listed it locally. Sold it the 1st day for more money than offered by CM. They Didn't even test drive it.....

 

[Bob2C]

I ran the # thru CM on my 2014 JeeP GC and listed it locally. Sold it the 1st day for more money than offered by CM. They Didn't even test drive it.....

Did you list on Craigslist/ Facebook or classifieds like autotrader?


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