General question here, applying it to my 2016 Yukon XL Denali - I have just under 80,000 Miles. Overall, what do you all think is the best time to sell a car and upgrade to a newer version? I will buy the exact same vehicle as I have now.
When to Sell?
- Thread starter kuslamb
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Blueinterceptor
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I think you’re there. Three years old. 80k. No warranty except the power train maybe.
Illnasty
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Keep it forever. I’m running my 2002 Denali with 267k.
personally I would do it before it hits 100k that seems to be pretty much the breaking point for dealers anyway they always try to get more money for them when there under 100k or just over a hair, you can go to Kelly blue book and just juggle the miles around a few times and see what it says
Boatguy272
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I agree with both,,,,, if you want a new vehicle soon,,,, now is the time to get rid of it.
The other school of thought is,,,,, if its been good to you drive it till the doors fall off. That is the only way to really get your money out of a vehicle.
The other school of thought is,,,,, if its been good to you drive it till the doors fall off. That is the only way to really get your money out of a vehicle.
drakon543
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i would say you have 2 big cut off points with mileage. before 100k will always be your best bang for your buck to get the highest return. then before 150k after that your in the realm of them offering you practically nothing as a trade in. before 100k they can easily turn a vehicle around and resell it. before 150k they can still sell it off thier lot but at a typical as is price. after that depending on its condition they might just ship it off to auction to get it off thier lot.
rico387
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Brace yourself. You already have over 6x the DOT average mileage on the clock. (12334 is yearly avg.) If you’re going to sell, you may want to make it fast. The new models will be widely available soon, and your truck will be worth less by the day.
coupdevill
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After owning 5 Chevy Suburbans since 1999 and driving all of them over 200K, my suggestion is to sell around 150K as you are going to start putting some real cash into it. I drive 30K+ a year loaded with gear almost always at or above the speed limit.
ChrisYukon
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If you want to buy a new car, then consider trading yours in and taking the plunge. It's really hard to make an economic argument in favor of it, though. "I bought a new $60,000 car because I wanted to avoid $10,000 of repair bills" doesn't make a lot of sense.
CMoore711
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I would much rather have a vehicle that's taken care of, maintained well, sorted out/lightly modified to my liking over the years of ownership, paid off and just drive it to as close to or above 200K before dumping. That's been my recipe for my last 2 DD's and I feel it's served me well. Hell, even in the last 2-3 years of ownership of vehicles getting closer to or over 200K miles, a $1,500-$2,000 repair once a year is still way cheaper than $850/month car payment.
When it comes to DD's - Buy it, Drive it, Maintain it, Drive it, Repeat... If you take care of them right, no one will ever know there's 100-150K miles on it by looking at it.
Just my 2 cents; Good luck in your decision.
When it comes to DD's - Buy it, Drive it, Maintain it, Drive it, Repeat... If you take care of them right, no one will ever know there's 100-150K miles on it by looking at it.
Just my 2 cents; Good luck in your decision.
A huge depreciation factor is current deisgn or not. Once GM changes to the next generation design the current will drop in price. Right now your Yukon is essentially the same as the newest on the lot. It makes it worth more because someone can buy it used and still look like they're driving a 2019.
cardude2000
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I’m in a similar spot. My 2016 is beginning to let the gremlins creep in and I only have 40k miles. I’m waiting to see the 2020 and then will decide between that and the Lincoln. (Calm down everyone
I suggest you wait until March when the new 2020 is debuted. If you like it, lock in a trade in price with the dealer and order one. If not, trade for a 2019. But at that point you are really driving a 6+ year old design, technology etc. for $75k or whatever you are going to pay that can be a tough one to swallow.
If you wait you’re going to go over 100k and your value drops like a rock. I think the 2015+ will hold its value for a bit because there will be people who want the ‘older’ body style and suspension setup.
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Csurp
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I would consider waiting for the second year of the new model.
TahoeFL2017
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Sell it as soon as you can, once you are over 100k miles, it will be nearly impossible for a dealer to get it financed. So it becomes a cash sale or buy-here-pay-here deal with over 100k miles. I worked at a lot back in 1995, and we generally sold vehicles with 70-90k miles, just enough life in them to get financed(even though 200k is probably realistic for a Tahoe/Yukon) Agree with waiting for a 2020 if you can, body style changeover will definitely affect the depreciation.
Wolfbraid
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Sell it to me for 5k... that's the best advice .....
that's the best advice .....I was told 90k was the cutoff point for financing when I traded one of mine in. It had 88+ on it and the dealer just asked that I keep it under 90k by a couple hundred if I could (needed to wait a few days for the new one to get in). They just said it limits the next buyers options if it is over the 90k mark - you could always try asking your local lender(s) if they have some mileage threshold where rates go up or they would just choose not to finance a vehicle. Seems like this would even vary depending on location, the buyer and typical reliability of the vehicle in question. The riskier it is for the lender the more they are going to need in return to take on that risk.
