03' Redesign

jr.parrish · July 25, 2002

So whats this redesign going to do the the value of our 99-02 trucks? I remember when the Suburbans were redesigned in 2000, the values of the older models dropped signifigantly.

chevy4x4trucks · July 25, 2002

I don't know, I mean, I don't think the value of the up to 98 trucks took a big dropoff. I mean, I was looking around and basically a 98 and 99 were the same price. I doubt the prices will take a big plunge.

MarkD · July 25, 2002

I hope not!

CMNTMXR81 · July 25, 2002

So whats this redesign going to do the the value of our 99-02 trucks? I remember when the Suburbans were redesigned in 2000, the values of the older models dropped signifigantly.

Same thing!

That's status quo in the auto business and doesn't discriminate against manufacturer! Go look at used prices for Ram's prior to and after the new design. Same for the F-Series back in 97.

I wouldn't say the prices dropped "significantly" back when the new 'burban came out, but everybody wants the new "toy" on the block or be the first on the block with the new "toy" as such, the previous gen car/truck will take some hit as they are less desirable now.

TxDoc · July 25, 2002

"Derrived demand".

SilveradoWV · July 25, 2002

I wouldn't say the prices dropped "significantly" back when the new 'burban came out, but everybody wants the new "toy" on the block or be the first on the block with the new "toy"

But also there are people waitin in the used car lots to get those peoples perfectly good trade ins, so I think it balances out well!

CMNTMXR81 · July 26, 2002

There are other factors too that one must factor in driving today's car market, especially a lot of those 97's - 99's are coming in off of lease (like my '97). Thing is, when the lease papers were signed, they set a residual value (what they estimated the truck to be worth "X" time down the road).

Turns out that in those last few years, the market was flooded with EVERYTHING that was an SUV which in turn drives down values.

For the past few months, Bank One (who my lease is/was with) kept trying to get me to buy the truck moreso than they normally do because once they take it back, auction or sell it off and get their money out of it, it'll actually be worth less than the residual they set for me (which determined my monthly payment). As such, they are taking hefty losses on these things.

Fishnfool · July 26, 2002

IMHO the resale values of 99-02 Chevy trucks should not go down much at all. My reasoning behind this is - The 2003 redesign SUCKS! I had a 03 2500HD on order but went and looked at one that came in to a local dealer and cancelled my order after I saw it in person. I even went back twice to look to see if I could come around and accept the new look but the clincher was a local GMC dealer got some 03 Sierras in and when I looked at them I realized there was no way I could live with it compared to the 99-02 truck style.

So what am I going to buy now , you might be wondering? The answer is - A 2003 GMC 2500HD

D-Max · July 26, 2002

I thought I was the only one that would not buy a 2003 Chevy... Heck I have a 1997 S10 that I wanted to upgrade to a new 2500HD chevy... Saw what the 2003 looked like said hello GMC!! I am just waiting a little longer to order it... Got to save some more money up for the nice little duramax...

Fishnfool · July 26, 2002

D-Max

I am ordering my 2003 Sierra 2500HD with the DuraMax engine with the Allison transmission in the Ex.cab Longbed. Have two relatives that own 2001 and 2002 Chevys with the same combo and they love em.