2016 Yukon, is this a good deal?

[DTOM]

Long story short, looking to upgrade the wife's 2011 Yuke. It was bought at a couple of years old as a certified pre-owned and made sense at the time. Fast forward to today and it has over 150k on it, needs some TLC but is still robust and reliable. We all know that this current market is insane. I started looking last year just as COVID hit but with the uncertainty of everything, held off on buying. My mistake, hindsight is 20/20 and all that.

I know I'm new here so I'm not sure if we can post outside links, but a local dealer has a certified pre-owned 2016 SLT. Overall, 67k miles, loaded with pretty much every option from what I could tell looking at it quickly in person (the online ad omits a fair amount of things), all for $38,995. It has more bells and whistles than my fam needs but also a Borla Touring exhaust that I don't think the dealer is up to speed on. I'm unsure if there was anything else done as I stopped to look at it for all of five minutes and couldn't pop the hood to look at the engine compartment.

One thing I noticed when I crawled under it to check the undercarriage (I'm in the NE so salt plays hell on autos), it also has a brand new OEM rear drive shaft. Before I waste mine or the dealer's time, is this worth setting up an appointment to look at? Price seems a little too steep to me and there are some items that are concerning, like the previously mentioned drive shaft. Is the upgrade worth it or just keep the 2011 going until the wheels fall off?

 

[Joseph Garcia]

Agreed, today's demand/supply equation is WAY out of balance. The bottom line is that you are very apt to pay more for any vehicle today, than what it would cost in a balanced demand/supply situation. For that reason alone, I would avoid purchasing a vehicle today, unless I had a definitive need to do so (like say, my present vehicle crapped out completely).

Consider what the commitment of $38,995, or the monthly payment equivalent, to some TLC to your current 2011 Yukon would do for you and your family.

 

[TollKeeper]

At a 39000 price tag, you are talking about a 800+ monthly payment (depending on down payment)..

Unless its literally a smoking deal, I wouldnt buy anything right now.

At 39k for a 5 year old truck this is not a good deal (IMHO)

You said it yourself... Your truck is running, driving, reliable, etc. Need some maintenance, but what truck doesn't.

When we come out of this "event", there will be a lot of repos going on, and the market is going to crash. Thats when I would be buying.

 

[Rdr854]

Everyone is correct that car prices are insane. But that also means trade in values are up. while prices are significantly higher today than a year ago, the question is two fold: What is the price of the new vehicle? and How much will I get for my old vehicle?

At the beginNing of the 2021 model year last fall, I was quoted a $20K price difference for my low mileage base LT 2019 Suburban vs a base LT 2021 Suburban with the exact same equipment. Earlier this month, I was quoted a $23K price difference, but of course, this 2021 Suburban LT had more equipment packages than my base LT 2019.

Bottom line is that you have to look at all sides of the transaction to make sure it is economically worthwhile. That means looking at the purchase price of the new vehicle, sale price of the old vehicle as well as any fees. Only then can you determine if you are getting a good deal.

 

[BourbonNcigars]

If you factor in the numbers along with a spot of speculation I’d be very tempted to say leasing a new vehicle is the way to go right now. Assuming all the other monetary parameters are in line. Car buying at the moment is quite upside down. Especially if a number crunching cheapskate like me is openly mentioning leasing.

Edit to clarify that I mean if you just absolutely have to buy a car right now. No way in hell I would.

 

[DTOM]

Thanks for the insight everyone. From an economic standpoint I agree that it’s not a very good deal. The problem I’m having is that I passed on what are now considered good deals but at the time they certainly weren’t. I suppose I just don’t want to miss the boat again.

I can honestly say that COVID and all of its after effects have caused me to reevaluate and question that which I thought I had a pretty gauge on, the automotive market included. I’d love for things to self correct sooner than later but at this rate I have no idea when that will be.

 

[ReaperHWK]

I’d hold out and wait. I got a 2015 LTZ last year for 28k.

 

[THarber]

After just searching for a month or more I ended up with a 2019 Yukon SLT with 27000 miles. I paid $54,000 for it. Used cars are insane. I had to buy but would suggest if you're not in a hurry to wait until summer is over. Being the son of a retired auto dealer, I know prices are up seasonally plus the chip shortage is slowing down new production. Ford is starting to produce the electric f150 and I would bet once they are in stock, there will be lots of trading going on.

Tim

 

[DTOM]

So, we test drove it over the weekend. I don't really need the new ride and my wife instantly rattled off her perceived issues. First, she said "there's a smell. It's like a mixture between coffee and sweat or a muted dog odor." Okay, dealer says he can take care of that. Second, my wife notes the various stains on the ceiling. Tells the dealer, "I have three kids, a cloth interior and aside from a stain in the back cargo area, my interior looks neater than this." Salesman then starts glancing back and forth between us, trying to figure out how to counter. "Well, it has brand new, premium tires!" They were Continental TerrainContacts but my 2011 is wearing Pirelli Scorpion Verdes that have a little over 10k on them so not really a huge selling point for me. I make an offer, mention a decent amount of cash down and see if he'll bite. Nope, that's the price. Someone will buy it for that, I'm told. All I could do was tell him good luck and out the door we went.

With all of the additional bells and whistles aside, it didn't drive any differently or perform any better than what's already bought and paid for. Maybe within 6 months to a year, things will cool down and I can grab a decently priced CPO '18 or '19 Tahoe or Yuke.

 

[TollKeeper]

You did good in my opinion.