Trade In Values Insane!

[Josef]

Ended up trading my 2020 TB in for 5k over what I bought it for. After discounts I got the same truck but a 6.2 for a 4K delta. Seemed like a complete no brainer.  Today I looked on the dealerships website and they were listing my old truck for $62k. That’s 9k over what they paid me and 6k over what I just paid for a 2021 6.2 TB. This is crazy!

[2017GMCALLTERRAIN]

On 6/26/2021 at 10:10 PM, Dunn said:

They say that but in many cases you can refinance b4 the first payment even comes in the mail....I know here you can.....there is a $500 rebate to finance with GM currently I believe....its kind of vague as some offer $3800 and $500 to finance 

Yes! I contacted GM financial and they said there was no penalty for early payoffs. The dealer pushes you not to pay it off early bc GM will charge them the $500.  Thanks a lot!

[Foghorn19]

Well GM has limited the financial windfall for lease customers looking outside GM.  Now GM Financial will only provide a payoff on leases to the customer or a GM dealer.  You can buy out the lease and then sell, but you would have to pay tax.  No selling to Carvana, Vroom, or another francised dealer or independent.

 

https://youtu.be/sTokIf7yvzw

Edited July 7, 2021 by Foghorn19

[clowe1243]

2019 Silverado 6.2L HighCoutry 10-Speed (Every Option Except 5th Wheel)
Paid $57k out the door
Site unseen offered $65k

When they saw it at 18k miles: $69k

Very uncommon: Offered to pay for the 6.5" lift and 37" tires (Not Labor) if I was to buy another truck with them;

Final Offer $69k + $9k towards a local purchase.

If it weren't for the fact that every new truck is ridiculously over priced right now, I would have sold it.

[gemarsh]

Evidently the market is flooded with 21 GMC Denali Carbon Pro diesels...

 

 

[vancealot29]

8 minutes ago, gemarsh said:

Evidently the market is flooded with 21 GMC Denali Carbon Pro diesels...

 

 

I can beat that offer.......I'll give you $12k cash.......and I will drive it to you today 

[KeyserSoze]

I sold my 18 Silverado 4x4 Crew Cab LT with only 10k miles to Vroom back in March since it was just a second weekend vehicle and I was pretty much done with its utility after 39 months and could afford to wait a year or two to replace it once the madness is over.   I liked the truck a lot and had no problems - but something like a Tahoe and a trailer for occasional hauling would be a better fit for me.  

 

Keep in mind that Carvana, Vroom, Shift etc are all venture capital funded and just trying to hit sales numbers, not necessarily profitability, at this point.   

[ratman6161]

On 7/6/2021 at 10:51 PM, 2017GMCALLTERRAIN said:

Yes! I contacted GM financial and they said there was no penalty for early payoffs. The dealer pushes you not to pay it off early bc GM will charge them the $500.  Thanks a lot!

I just picked up my Sierra 1500 last week so I've been through the incentives and the finance process.  While it's true that there is no penalty to pay off early, the fine print says you can't refinance until you have made 6 payments.  Also GM'S rate was a full point higher than what I could get elsewhere.  I've done the refinance thing before on a Nissan where I refinanced without even making the first payment to Nissan...but decided it wasn't worth it in this case since who knows what rates will be in six months.

 

On trade in, I bought my 2019 Canyon in Oct 2019 used with 5200 miles.  Traded it back to the same dealer I bought it from for $1100 more than I paid.  They are listing a similar 2019 for $3900 more than that.   Though that sounds good, it only made sense because I wanted the Sierra anyway.  You can't forget the sales tax (6.5% where I live) and other fees to the state.  These added up to almost $2000.  Like I said, only makes sense beuse I wanted the Sierra anywwy.

[youcantkeepup!]

It depends on your state. In NY you can refi at any time, some law we have that actually makes sense.. possibly the only one

[Dunn]

same here, can refi whenever you want.......i would still call GM financial services and verify regardless of what paperwork says....cant hurt and GM rates arent very good usually.....

[2017GMCALLTERRAIN]

On 7/13/2021 at 8:56 PM, ratman6161 said:

I just picked up my Sierra 1500 last week so I've been through the incentives and the finance process.  While it's true that there is no penalty to pay off early, the fine print says you can't refinance until you have made 6 payments.  Also GM'S rate was a full point higher than what I could get elsewhere.  I've done the refinance thing before on a Nissan where I refinanced without even making the first payment to Nissan...but decided it wasn't worth it in this case since who knows what rates will be in six months.

 

On trade in, I bought my 2019 Canyon in Oct 2019 used with 5200 miles.  Traded it back to the same dealer I bought it from for $1100 more than I paid.  They are listing a similar 2019 for $3900 more than that.   Though that sounds good, it only made sense because I wanted the Sierra anyway.  You can't forget the sales tax (6.5% where I live) and other fees to the state.  These added up to almost $2000.  Like I said, only makes sense beuse I wanted the Sierra anywwy.

My refi rate from my local Credit union is 2% which is 3 points lower than what I was getting with GM financial. They also gave me $300 for refinancing with them. The stars aligned for me. 

[rjkratzig]

Just traded my 2016 Sierra SLT for the same price I paid for it 5 years ago (almost to the day); had only 36,000 miles and I didn't need to trade it, but couldn't walk away from that value on something I expected to be worth half of this amount by now!

[Krazny13]

Traded my 2016 Silverado 2LT Crew Cab Z71 with 68k miles on it, dealer gave me $31.5k plus another $1k off the price of the RST I was looking at.  They were hurting for trucks.    They put new tires on it, got it GM Certified, and one of the dealer techs bought it for $34k.  

 

I originally bought it new for $32k.  (Taxes added another $3k, based on the sticker price of $51k before all my discounts)

 

It really is pretty crazy.  

 

 

[OnTheReel]

Things are still inflated but definitely starting to level off. June was the month to sell, that’s for sure.