Time to buy- trade values super high + Costco Rebate

[mcbreth]

I just went to look at the 2020 Sierra Denali 3.0 I ordered in the spring.  I got my truck (2014 Sierra Denali) appraised and they offered me $8k more than I expected.  The dealer said they have never seen such a low supply of used trucks.  In addition Costco ponied up an additional $1000 rebate  for GM vehicles that can be used at any GM dealer on top of GM incentives.  Credit Union is offering 2.3% up to 75 months.  This is probably the first time in my life I stumbled into such a good environment for buying....

[Jim E]

A volume dealer will likely get you a better price than using the Costco rebate.  When we bought the wifes Terrain, if we wanted to use the Costco rebate, the price was going to go up.  It had something to do with how they can stack rebates.

[BluegrassMotorsport]

GM will let dealers stack some rebates but not all. I bought my truck from a relatively high volume dealer last month. They had a dealer discount on top of the GM discount. I also qualify for the GM Educator Discount since I'm a school board employee but GM wouldn't allow the dealer to stack their dealer discount on top of mine. But they would allow me to stack my discount on top of the GM offer which was okay with me because it was greater than the dealer discount anyways. So be sure to check and see what combinations will work.

 

Either way, you're right that this is the best time to buy a truck. I had no intentions of trading but my trade offer was $1000 difference from what I paid for my K1 three years ago. I'd be crazy to turn that down.

[redvettez06]

Inventory is poor in my state (AK) and the dealer was hesitant to work a lot with me but I’m pretty happy with getting my $55k (was almost $57 last month before they discounted the diesels) truck and ~$1000 in accessories for just over $43k.

[Franko3219]

Seems like a, “six of one, half dozen of the other”, situation. Right now dealers are giving more for trades, but are not discounting/negotiating on new truck prices much. It just depends on your situation. If you are buying without having something of quality to trade, it is probably not a great time to buy.

[Jim E]

The local volume dealers that I've been watching are still 10-11k off MSRP.   Which is the same as it was in April/May when I was ready to pull the trigger but they couldn't find what I wanted.

[Olympus]

Seems like a, “six of one, half dozen of the other”, situation. Right now dealers are giving more for trades, but are not discounting/negotiating on new truck prices much. It just depends on your situation. If you are buying without having something of quality to trade, it is probably not a great time to buy.

This is what I’ve found too. With plants being shut down for COVID and just now starting to crank out new trucks, trucks are trickling in and dealers are sticking to their guns, especially on higher demand trim models, to keep their lots looking full and knowing that people are chomping at the bit to buy a new vehicle.

[Enough]

The local dealers here still don't have much 2 wheel drive inventory to offer so my trade value is meaningless since there is nothing on the lots I would trade for.

[Crazypontiac03]

Inventory is horrible here, I was able to (hopefully) snag a 3.0 as it arrived at the dealer. They are giving me almost 4K more for my 17’ than I thought. I’m leaning toward leasing as interest rates are all over the place, not to mention I’ve never owned a Diesel before.

 

Hard to believe I paid 37k for my 17’ LT1 with 17k on it. Almost 3 years later it’s worth 33K. 

[jlong1984]

On 10/7/2020 at 11:56 AM, Jim E said:

The local volume dealers that I've been watching are still 10-11k off MSRP.   Which is the same as it was in April/May when I was ready to pull the trigger but they couldn't find what I wanted.

Most volume stores here are only offering MSRP - GM rebates. That usually comes out to around $7-$8,000 off sticker. 

[BossTaco2020]

2 hours ago, jlong1984 said:

Most volume stores here are only offering MSRP - GM rebates. That usually comes out to around $7-$8,000 off sticker. 

I'd try to find a no-haggle dealership. They usually are discounted off MSRP and then all GM rebates still apply. Usually I shy away from those places as I can normally negotiate a better deal. But the the other dealerships aren't budging off MSRP, I find the no-haggle places a way to snag a better deal. At least that was my experience just recently buying my 2020 Trail Boss.