Trading 2012 Silverado Z71 Ext Cab on 2013 GMC Sierra Z71 Crew Cab...T

[1013_79z28]

Hello everyone... Looking for some insight, thoughts, advice....

 

I am hoping to trade in (or sell outright) my 2012 Silverado Z71 Ext. Cab on a 2013 GMC Sierra Z71 Crew Cab. I went to the local GMC dealer last week and they said it might be best to hold off until May or June because the rebates and incentives will probably be greater than what they are right now, along with the 0% interest...(current offers end tomorrow...new offers begin March 1st, which may be a carry over from last month). What I am concerned about is waiting until May or June (shortly before the 2014's come out) and having to choose from what might be a very poor / low selection of the 2013's. I don't want to settle for something that I don't really want (based on color, options, etc...) The local GMC dealer said that GM is currently "pushing" quantities of 2013's on them in order to load up dealer's quantities so that they can clear out the 2013's and sell as many as possible prior to the 2014's becoming available...and saying that selection would not be an issue come May or June. I also contacted another GMC dealer about an hour away and they stated that the selection in May or June would not be as good as what it is right now. However, they did say the the 2013's were still in production. I don't quite know what to believe.

 

I currently have 0% interest for 72 months on my Ext. Cab. I wanted to buy the Crew Cab last April when I bought my Ext. Cab, but the finance company wouldn't go for it because they wanted my monthly payment at a certain amount, which I can understand. I am concerned however about how much I will get on a trade for my Ext. Cab. It currently has 9,700 miles on it. And, shortly after buying it last year, I loaded it up with a good bit of accessories, such as...GM 6" chrome step bars, "Chevy Bowtie" BedRug, AVS front shield and vent visors, window tint, Chevy bowtie stainless exhaust tip, bed rail protectors, rear wheel well liners, Extang Solid Fold tonneau cover, etc... In total, approximately $2,200 worth of accessories, which I would hope that I would get some of that back when I go to trade it in. The sales manager at the GMC dealer had mentioned something regarding a possible 4-year lease (based on saying something about "negative equity")...and they haven't even officially looked at my Silverado yet. All they know about it is the year, mileage, and options because they ran the VIN number. They said that the "negative equity" would be gone at the end of the 4-year lease. Leasing is something that I do not want to do. To me, it just seems like a waste. If I buy the Crew Cab, my plan is to keep it long term (8 - 10 years) like I did with my previous vehicle prior to buying my Silverado last year.

 

I would like to sell the Silverado outright if I could, but I am not sure if I would get any interest. My current balance on it is $30,500 and in attempting to sell it outright, I really have no idea where to start with pricing it to sell...and this is even after looking at NADA and Kelley Blue Book. The values there at times really don't seem to be where they should...not saying necessarily on these trucks, but on other vehicles that I have checked on their websites.

 

I would greatly appreciate any insight, thoughts, comments...

 

Thank You.

[foghorn23]

First of all you have a nice Silverado and the decision of whether to trade it is yours. Don't let someone lecture you on what is best for you. However here's something to think about. You mentioned that you have 0% interest on the current truck. That is actually usually not a good thing in a trade situation in the first few years of ownership.

 

Here's what I mean. Let's suppose you are buying a new truck that lists for $40K. You have the option of 0% or taking $7000 in rebates. (I think that's what they are advertising on tv). If you do the 0% and pay on the truck for a year you have paid off around $6700 and still owe $33K+. If you take the original rebate you start off at $33K and have paid off more debt; yes you've paid some interest, but you've initally financed less and ultimately owe less after a year. In other words you are almost always better off taking rebate cash (especially if it is a large chunk of cash) and financing elsewhere (credit union?) if you have any idea of trading in the first few years of the loan.

 

If you truly are committed to trading, you might be able to use some of the current rebate $$ to get rid of your negative equity, if you truly are upside down. If you are looking to finance check out some different sources of financing and don't take the 0% but take the rebate cash. Most of all watch out for dealers who in many cases respond to cases like yours much like sharks respond to blood in the water. Also, at least in my area, the Chevy dealers are a little better to deal with on price. Unless you are set on a GMC you might want to talk to a Chevy dealer as well.

 

You are right that your truck will bring more if you can sell it outright, but that is difficult to do. You can shop it at local dealers, Carmax, etc. but they are not going to give you more than they can buy wholesale at the auto auction. If you can sell to an individual that's the best result for getting top $$, but you have to deal with some stranger "trying out your truck." There's no easy answer, so whatever you do, good luck with your decision.

[texansilverado]

I would like to add a bit of information about all the nice accessories that you put on the truck. Dealerships don't give a CRAP about all the accessories. The more accessories you add and modifications to the truck, the dealership can not sale your truck as a GM certified used vehicle, so they do not give you as much as you could get in a trade in. If you decide to trade in, I would take all the accessories off and put them on the new truck. Now if you try to sale on your own, the accessories could increase the value for a private sale. Good luck on your decision.

[GMCustomerService]

1013_79z28,

 

Good luck with your purchase! Feel free to contact me directly if you have any additional questions. Thank you.

 

Tricia, GM Customer Service.

[kgrumbach]

You will do MUCH MUCH better if you sell it yourself. Generally on a trade in they will give you wholesale price on your truck. I would go

to sites such as Autotrader and see what trucks like yours are selling for and start there, and go ahead and list it in the top sites.

 

I have a feeling they are going to hurt your feelings if you try to trade it in.

['01LS1]

I have always lost every dime spent on anything from bed liners, rails, steps, splash guards, headers etc. For trade purposes as others have mentioned, you need to pull it all off before going down to the dealership.

 

However, using that photo you have there & others like it on auto trader, cars.com, ebay local etc may get some interest selling it on your own. You also need to find which local banks-credit unions are willing to finance used vehicles. Always good if you can send a potential buyer where they can get financed at a decent rate as some banks do not want to mess with car loans. There is a credit union around here (w/approved credit) that will finance a '12 or '13 @ 1.99%.

 

As far as inventory come May or June. I would think you will still find plenty of '13 crews. No one can say for sure, but I see transports everyday still loaded with GM trucks & no dealer wants to survive on cars alone.

[bud_d]

One other thing to factor into your purchase decision is sales tax on the new vehicle. I do not know about PA, but in Ohio when you trade in a vehicle on a new vehicle, you pay sales tax on the difference, not on the new vehicle cost. So, if you buy a $40k truck, and trade in a $30k truck, you pay sales tax on $10k. Local sales tax rate here is 7%, so that would save me $2,100.

 

There are dealers that let you line up your own buyer, trade the vehicle in, and your buyer buys the vehicle from the dealer right away. There is a document fee that the dealer collects on the transaction. I did this a couple of years ago with my wife's vehicle, and I paid the dealer fee and gave my buyer some money for his trouble.

 

Regarding selection of trucks, I was looking for a non white or silver work truck. I bought one two weeks ago, and there were none in Ohio that were close to what I wanted. I would say selection is pretty low right now if you are looking for specific options.

 

Good luck - Doug

[elcamino]

https://www.wheels.com/fleet/reference/ordering2008/2008StartupDates_USA.asp#GMTrucks

[foghorn23]

https://www.wheels.com/fleet/reference/ordering2008/2008StartupDates_USA.asp#GMTrucks

 

 

Looks like the ordering is over, but if the OP is willing to drive to Tennessee, the dealer I recently traded with has around 400 Silverado 1500's in stock. At the time I traded he had over 140 Crew 4x4's.

 

http://www.championjc.com

[Tucker]

^+1 They have a huge selection. Even a few 6.2's.

[[email protected]]

My 2 cents, since your asking...

- Buying new and selling within a year or two will assure yourself of maximum depreciation, many thousands of dollars. That is "lost money".

- The miles and condition of your truck will be highly desired by someone, including a dealer. The dealer and sales person see the chance to make thousands of dollars of profit selling your nice used truck. Why don't you make that profit yourself instead? A "Retail" buyer of your truck will pay more than a dealer giving you wholesale for your trade, as previously stated. It will be worth the effort. Your bank or credit union can give you the wholesale and retail values.

- A quick 2-minute search of 2012 K1500 Z71s in PA on Autotrader looks like asking prices are in the $33 to $35k range. My guess a dealer would wholesale mark your truck below $30k, maybe down to the $26's or less, creating that negative equity.

- You should be able to peg almost exactly what your truck is worth wholesale and retail. Don't confuse "trade-in" value with your wholesale value.

- I agree that the add-on's will bring no value to the dealer, remove them and sell them or use them on your next truck.

- What is it about the 2013 that makes you want to lose thousands of dollars in depreciation on your 2012 for basically the same truck with just a couple of extra inches of leg room and a shorter bed? That 2013 will be dated (the "older" model) very soon. Since you are only a couple of months away from a brand new version, why not wait for the latest technology, especially since you plan on keeping it 10 or more years. Makes no sense to me, but it's your money. One downside to a 2014 will be a higher interest rate, but you still will be looking at only a few hundred dollars interest over the life the loan. Many credit unions offer 1% or 2% rates right now.

- Your right to stay away from leasing. Good thought.

- GM loads the dealers lots prior to a major model change over since the plants are shut down longer for major renovation of tooling and lines. Here in Texas the dealers have trucks stacked dozens of rows deep behind the dealership. My guess is you will find plenty of inventory to pick from for awhile, since you are wanting a crew cab.

- I trust you understand about negative equity, but your phrasing of "based on saying something about negative equity" makes me wonder. I hope you are clear on these things regarding vehicle purchasing, if not, ask. - - You stated that the finance company capped your monthly payment. Unless something has changed, I don't see how you will step-up to the newer truck without increasing your monthly amount. Add in potential negative equity, and that newer model may not fly. What doesn't make sense is that you spent over $2k on bling just after you bought it, which could have been additional down-payment to cover the cost of the crew-cab model in the first place. (Hindsight judgement by the peanut gallery, I know)

- Consider paying a few points of interest at a Credit Union when you finance and forgo that Zero Interest (take the rebate instead) in exchange for more flexibility. You walk into that dealership with your financing already arranged, and you won't find yourself "forced" into something like last time.

Make yourself happy, armed with knowledge and ability. Good luck.

[CKNSLS]

There is no possible way you are gong to come out good on this.......none....zero....zep!

[BlackZ71Silverado]

The problem with trying to sell it on your own is the rebates GM is offering on the brand new 2013's, going to be difficult to move your truck. 2013's around here are $9,000 off sticker or more depending on the trim level.

IMO having a vehcile with a lease is a waste of money. You should be able to drive the vehicle you pay for as much as you want and put as many miles on as you want. Being worried about paying penalties for mileage is not worth it. Also not worth it if you plan on buying it outright when the lease is up because you are going to pay more than it's worth.

Your best bet is to trade it in for the truck yo uwant now before stock is down and you can't find what you want.

 

Next time you go for a new vehicle, get the one you want the first time and you won't have to worry about a situation like the one you are in. I know what it's like, I have done it before. You are not going to be happy until you have exactly what you want.

['01LS1]

The $8-$12k off of sticker sounds great right now, but agree that it is going to be tough to unload one or trade it in the next 24-30 months(worst case if you had to) without taking a bath on it. Maybe I am wrong, but that is what has been keeping me from buying one right now. Most every buyer that wanted a gmt 900 has had their chance to buy one in virtually every price/mileage/cab/motor configuration. So kind of thinking that buying a 12/13 new needs to be for the long term.

 

After seeing the production dates for the 14's, we are looking at October/November for the lots have a decent amount of inventory & offering something off of sticker?