Need advice on my potential Yukon purchase situation

[CalmGlass]

Hello all, newbie to the site here!

I visited 3 dealerships today and came back pretty discouraged. Found this forum, and it's even more discouraging. Here's my situation, I currently own a 2018 Yukon XL Denali, and looking to get into a 2022/2023 Yukon XL Denali. Fortunately, all 3 dealerships say they price at or below MSRP, so that's great. But it's looking like the only people who can get a *new* one, based on what the dealers are telling me, are people who've ordered from factory and then taking delivery. There are simply no new ones on dealer lots. Configuring one online, you just never know when you'd ever get it delivered.

That said, my issue here is that I need to trade in my current Yukon to pay towards the $85-$90K price tag. I only owe a few thousand $ on the current one, so I have pretty good equity. If ordering from factory takes 3 - 6months or longer, used car values could keep coming down and I'm losing equity. If it takes a year to take delivery, I fear my 2018 yukon may lose up to $5K in market value by then.

Anyone else who's dealt with this situation? It's looking like used car values have never been this high, and the market is due for correction soon. I'd just like to have traded in my Yukon before that happens. Any thoughts/advice appreciated.

 

[PaulGA]

I know earlier in the year when I was shopping, a few dealerships offered a locked in trade price when you ordered a truck. So say that ‘18 is worth $50k today when you signed the deal and $47k in December when the new one came in, you’d have a signed deal stipulating a trade price of $50k.

Totally worth a shot to ask around.

 

[Banks22]

What state are u in? Get on gmc.com and search inventory for Denali’s, and check twice daily and you’ll have to call on each one. Might take u a few weeks and a lot of phone calls but u will eventually find one. Out of state from u are less likely to be below msrp. And also there’s more ultimates being built than base denali’s not sure why. So check those too if within your price range...I’ve had success doing this, just have to be very persistent

 

[todayusay]

What did each of the three dealerships say about lead time? Did any of them say they have an allocation available for a Denali? Searching for one already built would be the first path I'd go down for sure...you may have to change the 2022 to 2023 in the url as it doesn't look like GMC has set up a dedicated page for searching for 2023 inventory (try the link below for 2023s)

Site Maintenance

www.gmc.com

It'll say 2022 on the page but the yukons will be 2023s

if you don't find anything matching your "wants" - then a custom order is really the only other option unless you're willing to pay $10k over MSRP for a used one. Simply put, the only way to speed up the order/build process is to actually have your order accepted by GM...if you've read a little on the process then you know you can walk into any dealer and place an order within 15 mins, but that dealer has to have an allocation for your build in order for it to actually be accepted by GM (two step process - which can be the biggest hurdle)

as far as trade in values, some dealers are willing to lock in a trade in value with a mileage restriction, but most will only do 30-60 days max and even those tend to be on the low side price wise...they are going to protect themselves. Guess you don't live in a state that allows private sales to offset the sales tax? If you're not sure, check into it as there are states that allow this...(just gives you another option)

 

[Punteh]

I'm in a similar position as you. I've placed an order for a 23 Yukon XL Denali and I'll be trading my 14 Silverado in. My biggest concern is what's going to happen to the trade value for my Silverado in the unknown time it takes for the Yukon to come in. The gap between the two vehicles is only going to get wider as time passes

 

[WalleyeMikeIII]

I'm in a similar position as you. I've placed an order for a 23 Yukon XL Denali and I'll be trading my 14 Silverado in. My biggest concern is what's going to happen to the trade value for my Silverado in the unknown time it takes for the Yukon to come in. The gap between the two vehicles is only going to get wider as time passes

Yes, and Prices will increase as well (at least MSRP). The 22's from this time last year were 2-5k less on the sticker than equivalent is now. Now, if the NEW market tanks...then its anybody's guess as to what will happen...

Net...Follow advice above, you might find one for sale on a lot...but you may have to compromise on your want's list. If you have a specific config you are looking for ordering will be the only way.
Now, my experience is the more loaded up you order it, the more apt it is to be built. My '22 Denali had every option except RSE from the "Ultimate Package" (not the same as the '23 Ultimate). It was ordered on 11/14/21, and arrived at my dealer on 2/9/22.
Net, if you were GM, and had a finite part's stream, and a finite production capability..and you were selling everything you could make, wouldn't you option them up to the hilt too, and maximize your profit/revenue?

 

[OR VietVet]

Welcome to the forum.

One thing to keep in mind is this, with Ca. and several other states going to the "buy new electric car percentages and only new by 2035", these used vehicles may hold value longer than some people think. The mandates kick in in 2025 with a certain percentage and then a higher percentage as years roll by and then must be 100% by 2035.

 

[ColeBlooded]

I was also scared that my previous car value would plummet so i sold it myself a few months before I got my Escalade. Luckily my mother is retired so i was able to borrow her car until I got my Escalade.

But in my opinion, i don't see used or new car values going down this year. These inflated prices might be here to stay for awhile.

 

[Blueinterceptor]

I traded in a 2017 Tahoe. Got $45k on a truck with 24k on the clock. Perfect condition ltZ. They marked it up to 47k. It’s still on the lot. Used car prices are coming down. Cost of fuel coupled with rising interest rates and increased new car inventory is going to suppress the values of used cars.

 

[Seamus]

I know earlier in the year when I was shopping, a few dealerships offered a locked in trade price when you ordered a truck. So say that ‘18 is worth $50k today when you signed the deal and $47k in December when the new one came in, you’d have a signed deal stipulating a trade price of $50k.

Totally worth a shot to ask around.

Used car prices are dropping rapidly. Repo guys cant keep up with the banks requests. Market is changing rapidly. Can't see anyway a dealer could lock in a trade value unless it was 5k low to begin with.
I am is the same boat as the OP and the best you can do is order the truck, cross your fingers and when it gets here its a yes or a no based on values. Thgis will take over a year to adjust, not looking good.