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Thread: What's it worth? 04 Yukon
10-23-2012, 08:33 PM #1
- Join Date
- Apr 2010
- SE Michigan
What's it worth? 04 Yukon
Well.....we won a new a car! So I need to sell my Yukon. It's a 04 with 193000 miles. It's in very good condition, cleaner than most used cars on the lot, and has been well maintained. Took it to the stealership last night to see about trade in, they offered me $4k! I was floored. They told me it had too many miles on it. I was hoping for more like $7k. Any advice? Going to try Craig's List and setting it out on a nearby busy street. Anybody have any luck selling a high mileage vehicle?
10-25-2012, 10:59 AM #2
- Join Date
- Nov 2008
- Endicott, NY
You will probably get more for it selling it privately than selling it to a dealer. First, they probably don't want that high of a mileage vehicle on their lot and would wholesale it to a used car dealer or send it to the auction. Even, if they did put it on their lot they really don't know what it is going to take to sell the vehicle. They may have to spend money on it to get it off the lot. A pretty looking vehicle doesn't mean much from a maintenance standpoint. Tahoes and Yukons in that year range are going for around $10K with half the mileage you have. People pay for the miles they will be able to use the vehicle and your vehicle is limited in how many more miles it has before major repairs may be needed. Most vehicles can go 300K miles without major issues if they are maintained well. Yours is 100K from that mark while a 100K mile 04 Yukon is 200K away from the mark. Half the expected life of other vehicles means the price on yours has to be considerably less.
Not sure how much snow you get in SE Michigan but if you drive where they salt the roads quite a bit the metal brake lines in your truck may be on their way out. Replacement cost for the lines is about $1500 and the dealers in my area can provide the number without looking it up since they do so many replacements. Parts cost is about $80 and the rest is labor. The dealer that gave you the price will know they may have to replace the brake lines and would have adjusted the price accordingly.
10-25-2012, 11:24 AM #3
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- Dec 2004
- Arlington, Texas, United States
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@Tommy Panfish what did you win?
Do a check for what vehicles are selling for on ebay motors in your area. Take a look to see what dealers are looking to get for similar Tahoes as well. The problem is these vehicles are going for a premium right now, so even a 2004 Tahoe will still bring way more money than they used to be, so unless you meet at a bank you're going to have to get cash and carry it to the bank yourself. It's easier to just sell it to the dealer, but that's not going to make you as much as private party will.
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10-25-2012, 11:48 AM #4
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- Mar 2006
- Cameron, NC
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You might also go to kbb.com and edmunds.com. get the book value from both sites and average the two. That is approximately what you could expect to sell it for on the open market.
car dealerships only buy at wholesale. they are never going to get anywhere near retail when buying a vehicle. They have to buy low and sell high to make a profit. That's how ALL businesses work!
That said, understand that most people believe that their vehicle is worth more than it actually is. This is because of the sentimental attachment we develop with our vehicles. That sentiment is not worth a penny to the buyer! The buyer has no emotions invested in the vehicle.
I have no trouble selling high mileage vehicles. Many times, I sell them ABOVE book value and get my asking price! In order to do this, however, you will have to either have it detailed professionally or do it yourself. I have seen many people selling cars on Craigs List and even have gone and looked at a few that still had stickers on them and personal belongings in them when they showed it. NO NO NO! Clean it out and make it look like it belongs on a car lot! Scrape off any stickers, clean it up and get your junk out of it. That is the key to getting a good price for your vehicle!
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10-25-2012, 12:27 PM #5
I also live in SE Michigan. The kbb value for that truck, stripped down, no options, Ranges from $8414 for excellent condition to $6439 for fair condition. Again, that is whith out knowing your options and running it thru KBB. The market for selling a 4x4 suv in Michigan is pretty good right now. The NADA value for the truck I bought 2 months ago was $11,500, now it comes up at $14,500. Many people here are trying to get them before winter hits. If you don't need to sell it fast , I would set the price in the mid $7,000. then you can make people think that they are getting a deal by talking you down to $7,000! I recently sold 2 trucks on CL. The 4x4 went fast at a high price, the 2wd took awhile (5 months) but in the end I got my asking price. If you have time, set your price high, as soon as the first snow flies and people start driving their crappy trucks in it they will buy yours. You can also list it on ebay motors, local within 200 miles for free! Don't do a bid system do a buy it now price. Heads up for the scams on CL. If they don't have cash in hand, No deal or meet them at the bank and get the certified check in the bank from the teller. I know a couple of guys that have been screwed by fake certified checks. Like Moogvo said, all your stuff out of it especially your garage door opener. If they test drive it Only give them the key to your truck not your entire key ring with your house keys on it. I would take peoples drivers license and write down all their info before I let them drive my truck. I few guys did not have a valid drivers license. They did not get to test drive it.
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