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Used Chevy Silverados and Used GMC Sierras Leap In Value

iSeeCars researchers analyzed over 1.2 million used car sales in October 2020. The analysis revealed that used car prices had an average increase of 9.5 percent or $2,193 compared to the previous year. Typically, used car values decline.
 
The Silverado had an average used price in October 2019 of $34,245. This October that average had risen by nearly $5,000. The Sierra’s gains were even larger. In 2019 the average price of a used Sierra was $38,750. this past month the average showed an increase of about $6,400.
 
 

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FWIW, I appraised my 2015 2500HD SLE 2wd 6.0 with 59k miles on Carvana about 2weeks ago. They offered $32k!  That’s about $10k more than dealers were offering on trade. If you are buying a new truck, strongly consider selling to Carvana. 
 

I decided to not buy a new truck so I didn’t go through with the sale to Carvana, so maybe that number was too good to be true.  

Edited by Shall36

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I was offered 41k for my 2020 2500 HD LT gas 2wd with 6k miles.....I was highest offer from a corporate buyer....my sell price was 41k when I bought it....of course I would have had to eat tax and fees.....so I just kept it 

 

Keep checking other places to sell....

Edited by Dunn

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Dumb question because you mentioned KBB and another vehicle that is for sale.

 

You're not comparing retail or private party on KBB to what you were offered as a trade are you? That will most surely NEVER happen. Your best bet if you want to trade is to look at their number, and offer a REASONABLE counter offer. You might get $50k if you put your foot down, but I doubt you'll get anything more.

 

Private sale or Caravana is your best bet if you want more than that for your truck. Context: I asked for $28k for my 2015 6.0L Silverado and didn't hear a peep. "Suggested" $29k and got a "no" (I'm friends with the GM). They sold it for $32k. Dealers make their money on used inventory. I only got the $28k because I know the guy and he knows we take care of our vehicles.

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ive heard you have to use instant cash offer as a guide.....cannot use retail or private party

 

givemethevin was willing to pay the most for mine....carmax was 5k less and i cant remember what carvana was but i think it was still 2k less.....ive heard it being totlly flipped around in other areas where carvana or carmax was better option so just depends.....

Edited by Dunn

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