Considering used '16 Silverado LT- pricing question

bamafan76 · May 16, 2018

I purchased a new '16 Sierra DC SLE in January '17. Had it 8 months, loved the truck but didn't use it as a truck so traded it for a car. Now having truck withdrawals and began looking at a '16 Silverado LT. When I bought my Sierra, it was rebated from $44K to $31K. The Silverado's I'm looking at are dealer demos and was wondering if I could find out if the trucks also had rebates when new and therefore could know that going in to help get a better price for them. Right now they are asking more for them than what I paid for my brand new '16 Sierra, so I know they can't be worth more than that, right? Any help would be greatly appreciated.

B R A D · May 16, 2018

I looked at a few Ford demos before pulling the trigger on my Sierra and they included any rebates with their demo trucks because they had never been titled. I would be inclined to think the same would be true for GM.

Sent from my SM-N950U using Tapatalk

aseibel · May 16, 2018

1 hour ago, bamafan76 said:

Right now they are asking more for them than what I paid for my brand new '16 Sierra, so I know they can't be worth more than that, right?

Sounds like you got an extremely good deal on your last truck, usually 20% below MSRP is a great deal. you got 30%. It might have been a mistake to get rid of it. But we don't know the full details of your truck to do a real comparison.

How many miles were on it when you bought it? Fill us in with the engine, options, etc. Was it 4wd? I can't imagine getting a brand new 4wd truck for 31k.

My local dealer currently has three 2016's on their lot right now, asking 31k, 35k and 36,500 respectively. That's what slightly used trucks go for around here. The internet is your friend. search around for your desired truck options and see what they are listed for in your area.

Donstar · May 16, 2018

Your previous truck was a late leftover and would have had every possible price break. Wait till late '18/early '19 and you will find similar savings on an '18. The downside to leftover vehicles is they often have the least desirable build configurations. If you're considering used, broaden your search to include any other years in this generation of trucks. You may even find a used '18 for a great price!

aseibel · May 16, 2018

22 minutes ago, Donstar said:

The downside to leftover vehicles is they often have the least desirable build configurations.

and least desirable colors, hah. My wife picked the color. I would have just gotten regular black otherwise!

The less picky you are, the better deal you can find.

joejoe11 · May 16, 2018

I was glancing at pricing a few days ago and now actually looks like a really good time to buy a new 2018. Not sure what options you need, but check out HolidayAutoGroup.com or Bomninchevrolet.com. They're both no haggle pricing dealerships that list the prices as they are.

http://www.bomninchevrolet.com/VehicleDetails/new-2018-Chevrolet-Silverado_1500-Crew_Cab_Short_Box_2_Wheel_Drive_LT-Miami-FL/3074936683

Brand new - sticker $43,940 discounted to $26,052.

joejoe11 · May 16, 2018

https://www.holidayautogroup.com/details/Whitesboro-New-2018-Chevrolet-Silverado-1500-3GCPCREC4JG225855

$46,140 discounted to $30,224.

bamafan76 · May 16, 2018

Thanks for the replies. My '16 Sierra 1500 SLE was brand new when I bought it in Jan. 2017. It was 2WD, Double Cab, white. It was MSRP'd at $44K, and I paid right under $32K which to me was a great deal. My thought was to find a used 2016 or so Silverado 1500 LT with low miles and to do an even trade with my current vehicle of 2018 Accord EX, less than 2300 miles on it and 5 months old. The used Chevy's I'm looking at were titled as corporate lease which I believe were used as demos at the dealership they are for sale at.

Tahoe02 · May 16, 2018

The used 2018 EXs on Cars.com are going for $26,000 so they will probably offer you $22-23,000. Depends on what they are going for at the auto auctions. Not sure you will find a truck that cheap.

bamafan76 · May 16, 2018

1 hour ago, joejoe11 said:

I was glancing at pricing a few days ago and now actually looks like a really good time to buy a new 2018. Not sure what options you need, but check out HolidayAutoGroup.com or Bomninchevrolet.com. They're both no haggle pricing dealerships that list the prices as they are.

http://www.bomninchevrolet.com/VehicleDetails/new-2018-Chevrolet-Silverado_1500-Crew_Cab_Short_Box_2_Wheel_Drive_LT-Miami-FL/3074936683

Brand new - sticker $43,940 discounted to $26,052.

Man that is some good prices...much better than the dealerships near me! My whole reasoning for going used was thinking I'd get a better price and the fact if it was used I wouldn't mind it as much if I treated as a truck rather than a new one, I'd want to treat it new forever.

Fix29 · May 16, 2018

I would shop around at new trucks if I was you. Of course a lot depends on location, timing, etc but when I bought my 17 Sierra in February of last year the incentives actually made the new truck cheaper than buying a used one.

Edited May 16, 2018 by Fix29

joejoe11 · May 16, 2018

33 minutes ago, Fix29 said:

I would shop around at new trucks if I was you. Of course a lot depends on location, timing, etc but when I bought my 17 Sierra in February of last year the incentives actually made the new truck cheaper than buying a used one.

I had the same experience when I bought my 17 in September. The exact same trucks used with 30,000 miles were running $2,000 more than my brand new one.

bamafan76 · May 17, 2018

6 hours ago, joejoe11 said:

I had the same experience when I bought my 17 in September. The exact same trucks used with 30,000 miles were running $2,000 more than my brand new one.

While I'll assume that there is a logical explanation, I don't see why a used truck a couple of years old could cost more than a brand new truck of the same model, engine, etc. I get the rebates/incentives offered on a new truck, but it then makes you wonder why would someone buy a truck when those are not being offered?

joejoe11 · May 17, 2018

11 minutes ago, bamafan76 said:

While I'll assume that there is a logical explanation, I don't see why a used truck a couple of years old could cost more than a brand new truck of the same model, engine, etc. I get the rebates/incentives offered on a new truck, but it then makes you wonder why would someone buy a truck when those are not being offered?

I completely agree. This is my own personal opinion, so take it how you will, but I think buying a vehicle a year or two old with 10,000-20,000 miles on it to get a deal is an old school way of thinking. I think the industry has changed and the manufacturers have shifted their way of doing business. But, hard to say if this is accurate.

bcbz71 · May 17, 2018

When you need a truck, you need a truck and have to take the incentives that are offered at the time. The dealer doesn't know about upcoming incentives so if you let a month go by, the next month could be less incentives than now. It's a crap shoot.

My 2014 GMC Z71 4x4 SLE stickered at $44K and I got it for $33,400 + free spray-in + free underseat storage + $800 credit to some Nitto G2s + 3 years maintenance. On the other end of the lot, there was a used 2014 for $38K. Made no sense to me. I regularly see trucks like mine on craigs with 60-90K miles for around $30k.

Cash buyers willing to walk away will always get the best deal.

OP is a car dealer's dream!