Last post on Feb 09, 2011 at 6:32 PM
You are in the Chevrolet Suburban & Tahoe
What is this discussion about?
Chevrolet Tahoe, GMC Yukon, SUV
#298 of 3150 Re: Chevrolet Tahoe Full Test [blckislandguy]
Jan 24, 2006 (10:07 am)
The Tahoe appears to depreciate because of the wide margin between MSRP and Invoice for the Tahoe (about $6k). Edmunds assumes you bought at MSRP. So in one year when you can sell your Tahoe for ~$3000 less than invoice (real price paid) depreciation really isn't that bad. For a Honda the MSRP and invoice prices are much closer together.
Edmunds shows a $12k depreciation the first year. and $3k after that. If thats so there should be 2006 used Tahoes for about $21k. And now 2005 models for about $18k. Thats a real bargin! good luck finding those prices.
When we shopped for ours here is what we saw...
New 2004 LS Tahoe about $31k with all the rebates
2003 Tahoe $28k (10k miles)
2002 Yukon $26k (40k miles)
2001 Tahoe $22k (?? miles)
#299 of 3150 Re: Chevrolet Tahoe Full Test [jay_24]
Jan 24, 2006 (10:24 am)
Actually, if you read the details on Edmunds TCO, they use True Market Value less rebates and private party resale value. I would say their numbers are close. I traded my 2002 Tahoe last April. Paid $500 over invoice for it when new and took a $1500 rebate. This was right before GM started giving them away so I took a beating for the most part. I lost $15,000 over 30 months/40k miles. And I actually got a little more than book value for it on the trade. I looked at historical resale before I bought the Tahoe, and at that time the they were amoung the best domestic vehicles for resale value. Now they're just average for the most part.
#300 of 3150 Re: Chevrolet Tahoe Full Test [sebring95]
Jan 24, 2006 (10:52 am)
They key there is you traded. The actual value of your Tahoe was higher. The dealer needs to make a profit.
If you sold it private party I'll guess you would have only lost about $12,000.
I just looked up used Pilots in the area (minnesota).
2003 EX Pilot 60k miles for $19,000 (list price) If purchase price was $29k (guess) They loose $10k.
Same web site had 2003 Tahoe LS with 58k miles for $22,000
If they bought near $32k (invoice-rebates) they loose $10k
Not a big difference. No difference???
Not nearly the difference Edmunds lists.
#301 of 3150 Re: Chevrolet Tahoe Full Test [sebring95]
Jan 24, 2006 (11:00 am)
one more example.
We bought our 2003 Tahoe for $28k its now at 38,000 miles
used car web site has a nearly identical 03 Tahoe (37k miles) for $22,000. So in 3 years of owernship we have lost only $6k.
#302 of 3150 Re: Chevrolet Tahoe Full Test [jay_24]
Jan 24, 2006 (11:31 am)
The private party value was about $2,000 more than I got for the trade. With the tax savings, I would have only made $500 on a private sale, so trading was a no-brainer.
Edmunds seems to think the Pilot will have much better resale than the Tahoe. No idea if that's true. I used Edmunds number to estimate the resale on my '02 Tahoe before I bought it. They ended up being way off, the Tahoe was worth a lot less than what they had estimated. But I bought right before GM started the much larger rebates which killed resale value.
What's the private party value on your Tahoe today? Ads are just ads.
#303 of 3150 Re: Chevrolet Tahoe Full Test [sebring95]
Jan 24, 2006 (12:07 pm)
2003 Tahoe LS, 4wd, bose, rear audio, third row, towing pkg, power seat, side step, rear liftgate and wiper.
dealer: $29k (sign me up! a bit optimistic I think)
Private sale: $22k to $25k
trade-in: $18k to $22k
private sale: $21k
#304 of 3150 Re: Chevrolet Tahoe Full Test [jay_24]
Jan 24, 2006 (1:01 pm)
Sounds somewhat realistic if you stick to Edmunds numbers. Your '03 is similar to the '02 I traded back in April. I got $19,000 on trade. I paid a lot more for mine though, not sure how you worked that deal. I was $1,000 under invoice with the rebate (sounds crazy by todays standards... where they go for $5,000+ under invoice...) but todays invoice/msrp are much higher as well. Either way, these things don't hold their value the way they did several years back. I'm sure gas has a lot to do with that though, directly or indirectly.
#305 of 3150 Re: Chevrolet Tahoe Full Test [sebring95]
Jan 24, 2006 (2:29 pm)
Here are recent actual sale results on an '03 LS 4.8 litre:
01/13/06 $17,400 32,541 Avg PEWTER
01/11/06 $16,400 42,809 Avg DK BLUE
01/09/06 $17,800 45,729 Avg GRAY
01/12/06 $18,900 48,461 Avg GRAY
01/12/06 $17,100 58,366 Avg WHITE
#306 of 3150 New Tahoe? Not the 'Looker' I hoped for.
Jan 24, 2006 (8:53 pm)
I have read all about the new Tahoe and hoped that the new one would be worth buying-I own an 04' Z71- and love it. It's distictive and tough and haven't had any problems with it. But I have to be honest I am not impressed at all with the exterior styling. Does any one else feel this way? To me it looks like a revamped Ford explorer, except for the fron end. Above the belt line, and especially from the rear-Ford! The slight rise at the rear quarters gave a forward leaning aggressive stance that the new one doesn't have. I think Chevy went way to conservative. I think I might be looking elsewhere.
#307 of 3150 Re: New Tahoe? Not the 'Looker' I hoped for. [tcrumbly]
Jan 25, 2006 (6:49 am)
I agree. I wanted to like it but I'm not sure I can. Maybe I will get over the exterior and focus on all the improvements to the interior and engine.