I just priced out a new 2005 Denali XL with the prefered enterainment package, sunroof.
51k sticker / 39k with employee discount.39k is less than what some are asking for USED '05s !
Does anyone have any data on what is happening to used '04 and'05 prices as a result of the employee discount program ? Logic indicates that they should come down as well. Am I right ?
Thanks !
The value of the vehicles probably did drop, but the prices may or may not, depending on how much the owner still owes on it. Remember before the current " employee pricing" GM marketed a lot of no interest loans. The owners of these older cars and trucks are likely to be very "upside down" on their value.
That will really suck for most of these people who can't afford to pay to get out of their loans.
If you own the vehicle and the prices have dropped (and they have) the vehicle has lost value on paper regardless of if you own or the finacial institution owns the vehicle.
Not sure whether this will make since or not. But my gut feeling is that the owners who bought new vehicles prior to the employee pricing will have to eat the loss. Selling or trading the value is not there for reasons mentioned in the original post.
The $3.00 + fuel is not helping on most of the vehicles. On the other side of the supply and demand if you are a buyer it is your market at all levels.
Just my opinions and all know how much they are worth.
Hope all have a good holiday.
THey are going to have some real fires sales on those things because they have new trucsk coming and word is that there will be even deeper discounts on them in coming months. At this stage of the game I would have held out for a 06 because I have little doubt they will be as cheap or cheaper before years end.
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