Those with 2023 orders and updates.

[todayusay]

Are you using something like KBB trade in value or do you have access to auction wholesale values?

KBB tends to be way optimistic.

using KBB trade in using very good condition.

when I've done the KBB instant cash offer lately, the offers have been spot on with the average trade in value using very good....

2019 accord sport with 59k miles was spot on with the book value at $24.4k...dealer offered $24k on trade so I just took that instead (this was a couple weeks ago - value now is $23k)

Our 2021 Yukon was the same way when we sold it back in April...offer aligned up with average trade in...very good condition

right now its trade in using VG is ranging from $69-73.5k...just for grins, I plugged it into carvana and they offered $69.2k...paid sticker at $66k...we'd keep it but wife doesn't like the color and they are quite depreciating like "normal"

I agree I'd expect used car values to start dropping off, the upside/downside (whichever side of the fence you're on) is they are starting from a pretty high plateau...

ultimately, even if it drops several more thousand to break even or below what we paid we're good with it

I looked up our 2019 we traded in on the 2021...it had 38k miles, a SLT premium 4wd listed for $70k...think we paid a little over $60k maybe and got $40k on trade...this was in Dec 2020 before the car market decided to get stupid last year

 

[Polo08816]

Wholesale prices for used full size luxury SUVs are dropping like a rock on a weekly basis. It's only a matter of time before we see its impact on the retail prices and trade ins.

 

[suterusu]

Wholesale prices for used full size luxury SUVs are dropping like a rock on a weekly basis. It's only a matter of time before we see its impact on the retail prices and trade ins.

View attachment 377668

Just curious on your thoughts of the full size luxury SUV market as a whole vs. the Tahoe/Yukon/Escalade market specifically?

Being that they are a lot more constrained/more popular than their competitors, and that prices on theses rigs were supposed to be "dropping like a rock" for the last 6 months, only to be offered above MSRP trade value on my '21 Yukon SLT (anecdotal single data point, yes) seems to show that the GM products aren't reflective of the market as a whole.

Ford/Stellantis products seem to be plentiful or available with shorter lead times, yet people are paying $10K over for the GM products.

 

[Polo08816]

Just curious on your thoughts of the full size luxury SUV market as a whole vs. the Tahoe/Yukon/Escalade market specifically?

Being that they are a lot more constrained/more popular than their competitors, and that prices on theses rigs were supposed to be "dropping like a rock" for the last 6 months, only to be offered above MSRP trade value on my '21 Yukon SLT (anecdotal single data point, yes) seems to show that the GM products aren't reflective of the market as a whole.

Ford/Stellantis products seem to be plentiful or available with shorter lead times, yet people are paying $10K over for the GM products.

I'd like to see 2022 Q3 sales numbers and see what the trends may be.

Stellantis significantly increased its sales going from 22Q1 to 22Q2. GM's sales seemed flat from 22Q1 to 22Q2. Ford's sales fell for 22Q2 but based on some reporting, I think Ford is doing a bit better than GM at the moment.

I think of the 3 major domestic manufacturer, GM's show the least amount of improvement from a supply/production perspective. Toyota was hit pretty hard by the shutdowns in China.

I'm not sure if we'll be able to confirm this with just 22Q3 results - I think 22Q4 results will be more definitive. I don't think it's GM's preference to allow Ford/Stellantis gain market share so if they had additional production capacity, they would probably utilize it.

 

[bunky319]

Thanks for the video @Polo08816

I'm not sure whether I should be encouraged or discouraged by this news. Yes, there might be some downward pressure on the price of my new Yukon XL/Suburban. But since my trade-in is a Subaru Ascent, I'm afraid the downward pressure on my trade-in value will be stronger than any downward pressure my new vehicle's price. Even if that is true there is nothing I can do about it. I can't get rid of my current vehicle until I get a replacement.

 

[Chad G 1979]

A few days late to my weekly update, which will be this weeks also, is I am still sitting at a TPW of 9/12 after i checked with my dealer yesterday. He had just looked and said it didn't move any since it got bumped. He theorizes that because I ordered bench seats on all 3 rows it got bumped back due to 1st row bench/LS is not a common order request and that the ones who did order it that way from the time orders opened up they put them all together into the same week to build them all at the same time due to the dash and seats being completely different than captain chair/console for the 1st row. I just hope it doesn't take months to get it to me once they finally decide to build it.

 

[Acey]

Well I was told by GM today that my 2023 Tahoe which was built 2 weeks ago has been shipped from Arlington to Grand Prairie and now as of today back in Arlington with no eta and waiting to be shipped to dealer. I am hoping it arrives before the last day of August because GM financial has a deal for 0% APR or no payments for 3 months and I really want to get approved for that. I know I will because my credit is great. However, I have never used them, any comments. TIA

 

[BrokerThis]

@Acey I suspect GM will do 0% for the month of September as well, just so they can keep showing they "offer incentives". I took that 0% / 3 years for the GM July offer. First lovely $1970 payment shall be coming out the account this week.

I already have my blazer lease with gmfinance, auto-pay and have never had an issue

 

[Acey]

Thank you, but I hope my note is not that high because I will let them keep it

 

[Chad G 1979]

1970 monthly payment??? Woah! Thats nearly 6 times what my monthly house payment is! Then again i kove in a small town of around 4500 people so dont need to make outrageous wages to make ends meet. Good luck with those payments!

 

[ColeBlooded]

Depending on the loan length, that sounds about right for a vehicle close to 6 figures.

 

[Chad G 1979]

Man, i was thinking my sometime in the future Tahoe ls at just under 60k, thats 2/3s the price of my house is expensive. I cant imagine dropping 85-100k on a vehicle which cousts more than my home. Must be my ruralish area doesnt command massive wages, but gas is still expensive.

 

[Acey]

I think nine is $75k 2023 Tahoe premier with sunroof , retractable assist steps, iredescent pearl white with enhanced display and alert package and a locked console. I still hope my payments are not over 1100

 

[ECUpirate28]

With a long loan time and a big down payment 1100 is probably reasonable.

 

[Chad G 1979]

My dealer was showing me payments of around 750 for 72 months with a trade and down payment. Still expensive, but what wife wants so will make it work.

 

[BrokerThis]

70k at 0%/3yr, after putting 10k down on my denali.

Yeah it's a heavy monthly fee, but end of the day, not giving money to GM or a Bank for financing. I'd rather do it this way than to pay out 5-8k in interest over 4-6 years, since I can afford/budget it.

Gm rates on their "monthly special" seem to have gone up .8% as well. In July their 48-72 month financing was 3.49%

 

[Acey]

Update I picked up my 2023 Tahoe premier today and couldn’t enjoy it because as it turns out I am battling CoVid

 

[ColeBlooded]

Update I picked up my 2023 Tahoe premier today and couldn’t enjoy it because as it turns out I am battling CoVid

Sorry to hear that. I had COVID right before 4th of July weekend. I was drained for a couple of days but luckily tested negative in less than a week.

 

[Callen841]

Today, I was able to pick up this ‘23 Sterling metallic SLT with Roof, 22s, power buckets to hold us over until our Denali gets picked up. Our leased 2019 was up so needed something to bridge the gap. We ended up with over 10k in positive equity on our lease, and combined that with the 0% for 36 mo financing so pretty happy all in all. Sorry for the bad pics- the color is very similar to satin steel but a bit lighter and has more metallic in it.

 

[Acey]

Sorry to hear that. I had COVID right before 4th of July weekend. I was drained for a couple of days but luckily tested negative in less than a week.

I hope this pain leaves real soon