Trade in Value and piston slapping

GSXER2 · January 25, 2002

Given the latest trade in value for my truck an engine faliure would be a minor issue for me.I consider my 99 to be as good a vehicle as I have ever had yet the dealer is beyond insane for a trade in value.For a truck with 25000 miles and zero problemos they figure its worth $11,000 in trade.So with all things considered if the engine slaps itself silly I can afford to put 3 engines in it.I know it sucks but depreciation is a terrible thing. ???

chevy4x4trucks · January 25, 2002

wow, just 11 grand, I'll give you 12 for it right now. That seems really low.

JohnC · January 25, 2002

Three things got you. Low interest rates, cash-back rebates, and it's a Truck. As a whole, trucks seem to take the biggest depreciation hits. At least all mine have. I finally gave up and leased this one. As bad as leases are in general at least I know what I'm paying to use it for three years. I hate the big surprise at trade-in time.

01z71 · January 25, 2002

Fortunately, I do not have a piston slapper. Knock on Wood! The main thing killing vehicle resale is the low interest and the glut of used cars & trucks on the market.

After the glut is gone maybe things will get back to normal.

Greg · January 26, 2002

Three things got you. Low interest rates, cash-back rebates, and it's a Truck. As a whole, trucks seem to take the biggest depreciation hits. At least all mine have. I finally gave up and leased this one. As bad as leases are in general at least I know what I'm paying to use it for three years. I hate the big surprise at trade-in time.

If you check out the depreciation on cars and minivans, you'll be happier with how trucks hold their value. However, when GM is offering big rebates and low financing on new vehicles, trade in and used truck prices get pushed down. BTW, when you lease, you're still hit with depreciation in the form of low residual value causing higher lease payments. We're looking right now and 36 month lease versus 60 month purchase prices are nearly identical because of lower interest on purchases and lower residuals on leases.

sonjaab · January 26, 2002

GSX, If that truck of yours was 4x4

xcab LS. Mr. dealer here in syracuse

ny.....would be giving you lots more

$$$$. In may when I bought my

01 with GM employee discount they

gave me 16500 trade in for my 97

Chevy xcab 4x4 with 27k miles.

Of course this is in snow country

where 4x4 xcab GMs go for big bucks !

BTW: They sold the 97 the next day

for 18900........WOW!

sonjaab · January 26, 2002

ALSO, I have a 96 Caddy Deville and

the woman wants a new car now too.

She likes the Buick Lesabre and with

the GM employee discount it is almost

17k cheaper than a new Deville !!!!!!

They only offered 5000 for the Caddy

on trade ! Heck we paid MORE for

the Caddy than the 97 truck !!!!!!!

My girl can't believe the trade in value

between the 2 ! And just 6 months

apart !..............Geo

HillHound · January 26, 2002

GS-I was curious and checked a few online used auto value guides. That 11 grand trade amount in looks like it's pretty accurate. That stinks. Looks like 4wd and ext cabs make alot of difference as far as resale values.

Roger · January 26, 2002

Before getting rid of it as a trade in, try the lemon law in your state. GM, or any maker should be required to stand behing their product.

I used the lemon law with my 98 Ram which had the piston slapping. I had kept all my documentation and gave it to teh lawyer. Even outside of the orginial warranty and with over 41,000 on the Ram, I still got orginial purchase price.

Accept nothing less.

95Yukon · January 26, 2002

Just a comment on trade-ins

It's funny how they won't give any more than that but on the resale they won't budge off their 4 thousand dollar mark-up. It's not worth anything on trade in, but the tune changes on the resale, and its worth every cent.

I know they have their costs too, but thats just rediculous.

Thats why I haven't bought a brand new one yet.. as soon as you drive away on mile one, you immediately depreciate.

I'd rather sink my monet into an old vette or Harley or something that will retain or increase it's value as you drive it.

Z45 · January 27, 2002

In my area you cannot even find a new 2wd truck on the lots. Dealers don't even stock them. A coworker is looking for a striped down 2wd reg cab new or 1-2 yr old used and can't find one on any GM lots. Salesman just told him last week, no one wants them around here. The only regular cab I have seen a HD 4X4's.

I can remember back in 1987 when I wanted a new Silverado loaded, you could not find a 4X4 on lots, and loaded ones were impossible. Now, everyone is 4X4 ext cab and loaded.