Looking at two Suburbans to buy, need opinion

[pacem]

First, I'd probably wait 6 months if you can until this market recovers.

See I find that pretty doubtful. From the financial view point, I think things will only get worse. The Federal Reserve system is printing money out of thin air causing prices to rise on everything - food, rent, real estate, and autos.

I think things will only get worse in 6 months, much. People are spending their bailout money, their payments before that cash loses all value, thus driving up the prices. It's nuts but in a years it will probably be closer to 20K.

I looked around, CL, Ebay, etc. prices are the same all over.

 

[czbrian]

I would go with the white one assuming the rust isn’t bad. The rebuilt engine and higher miles on the other ruins it for me.

 

[pacem]

Last year, these were $5-8k vehicles. I was looking at them, considering one.

They weren't priced in that range in the last 5 years, I don't think. Not in DC area. Again I think it's inflation and it's a permanent rise in prices.

Who do you think is going to pay for all these bailouts last and this year, these are the consequences. Connect the dots. You can't print a gazillion without devaluing the currency by 30% which is what happened.

 

[pacem]

The rebuilt engine and higher miles on the other ruins it for me.

Why? Not questioning this just trying to understand the reasoning.

 

[Nick1994]

If you're towing, get the 6.0L. I've driven a family member's 05' Tahoe 5.3L and it's pretty gutless by itself.

 

[pacem]

If you're towing, get the 6.0L. I've driven a family member's 05' Tahoe 5.3L and it's pretty gutless by itself.

You make a good point

 

[CKN]

I just read this morning in another site-from someone who closely tracks the used vehicle market, according to him used car prices have peaked a month ago. OP-if you can wait 6 to 12 months you could be better off. Those two choices you are looking at are not ideal...they just aren't.

 

[CKN]

See I find that pretty doubtful. From the financial view point, I think things will only get worse. The Federal Reserve system is printing money out of thin air causing prices to rise on everything - food, rent, real estate, and autos.

I think things will only get worse in 6 months, much. People are spending their bailout money, their payments before that cash loses all value, thus driving up the prices. It's nuts but in a years it will probably be closer to 20K.

I looked around, CL, Ebay, etc. prices are the same all over.

As my previous post. The people that actually track use car prices don't agree with you. They are are coming down at auction already. Granted-it will be a slow decline.

 

[pacem]

I just read this morning in another site-from someone who closely tracks the used vehicle market, according to him used car prices have peaked a month ago. OP-if you can wait 6 to 12 months you could be better off. Those two choices you are looking at are not ideal...they just aren't.

That's the problem, I cannot wait too long. My current DD Tahoe has a long list of repairs that need to be done. It's roadworthy, but.

 

[pacem]

As my previous post. The people that actually track use car prices don't agree with you. They are are coming down at auction already. Granted-it will be a slow decline.

They passed that 1Trillion infrastructure deal. What does that have to do with this autos? Well almost nothing aside from the fact that print and spend will cause the 'dollar' to decline, all prices to rise even further. The prognosis is not that great.

I am not seeing any deals or any reasonably priced anything anywhere. On anything.
And my POS is falling apart with 230K miles and don't want to fix it since it's not what I need to begin with. I suppose I could tow with a 5.3L Tahoe but it would be very limited, either 19' or 22' at most.

 

[pacem]

I am thinking that the white 6.0L Burb is a lot harder to sell since nobody wants a 11MPG or 13MPG vehicle, it's not a great daily driver.

I wonder if that gives me more negotiating leverage. Probably not. The first one (black 2009) is from a private party, the second is from a dealership.

 

[SwampSurvivor]

If I had to buy one of those two and right now, it would be the 2500 suburban. Not a home built engine, better running gear and an actual truck rear suspension.

 

[CharlesInCharge]

Following up on my post, and responding to posts, yes, there is an inflation effect. No doubt on that. But that's is NOT causing the majority of the used car price increases, or low inventory, or empty dealer lots. In other words, yes there's big inflation, but it hasn't doubled the price of used cars by itself. And used cars are about or nearly double right now where they were just 2 years ago. Most I've seen are 25-50% higher. That's not solely or even mostly inflation.

The biggest culprit are supply chain problems which *should be* sorted out in 6 months and prices returning to somewhat normal, adjusted for the inflation problem. If I were to made a educated guess, probably ~80% of the price increases is due to inventory problems and shortages. Every article, every dealer, etc. states that the inventory is the issue. If you don't agree, go over to your local Ford or Chevy dealer and have a look at their lots. The major Ford dealer here has a lot 80% empty, compared to 2 years ago when it was completely full and overflowing with vehicles.

In other words, a $5k truck in 2019 is now a $10k truck in 2021, and probably $1000 of that increase is inflation and $4000 of that increase is the supply/demand inventory issue.

 

[CKN]

Following up on my post, and responding to posts, yes, there is an inflation effect. No doubt on that. But that's is NOT causing the majority of the used car price increases, or low inventory, or empty dealer lots. In other words, yes there's big inflation, but it hasn't doubled the price of used cars by itself. And used cars are about or nearly double right now where they were just 2 years ago. Most I've seen are 25-50% higher. That's not solely or even mostly inflation.

The biggest culprit are supply chain problems which *should be* sorted out in 6 months and prices returning to somewhat normal, adjusted for the inflation problem. If I were to made a educated guess, probably ~80% of the price increases is due to inventory problems and shortages. Every article, every dealer, etc. states that the inventory is the issue. If you don't agree, go over to your local Ford or Chevy dealer and have a look at their lots. The major Ford dealer here has a lot 80% empty, compared to 2 years ago when it was completely full and overflowing with vehicles.

In other words, a $5k truck in 2019 is now a $10k truck in 2021, and probably $1000 of that increase is inflation and $4000 of that increase is the supply/demand inventory issue.

Thank you! And once new car supply reaches an equilibrium that will bring down the price of used cars. AS I have stated previously-12 to 18 months.

 

[LowMilesLesabre]

Following up on my post, and responding to posts, yes, there is an inflation effect. No doubt on that. But that's is NOT causing the majority of the used car price increases, or low inventory, or empty dealer lots. In other words, yes there's big inflation, but it hasn't doubled the price of used cars by itself. And used cars are about or nearly double right now where they were just 2 years ago. Most I've seen are 25-50% higher. That's not solely or even mostly inflation.

The biggest culprit are supply chain problems which *should be* sorted out in 6 months and prices returning to somewhat normal, adjusted for the inflation problem. If I were to made a educated guess, probably ~80% of the price increases is due to inventory problems and shortages. Every article, every dealer, etc. states that the inventory is the issue. If you don't agree, go over to your local Ford or Chevy dealer and have a look at their lots. The major Ford dealer here has a lot 80% empty, compared to 2 years ago when it was completely full and overflowing with vehicles.

In other words, a $5k truck in 2019 is now a $10k truck in 2021, and probably $1000 of that increase is inflation and $4000 of that increase is the supply/demand inventory issue.

I think you really nailed the underlying issues that have resulted in why prices have risen. While inflation eventually impacts almost all consumer product categories, it does not do so uniformly. (Other consumer items have risen in price but not at the devastating rate that vehicles/lumber have). And then there is the impact of supply chain interruptions on people's buying plans. When people perceive a supply shortage or price increase as underway or on the way, they buy more than they need. They worry about running out or paying more later. This explains those long lines at gas stations during the 1970s as well as why some people still have 100 rolls of paper towels in their basements. Not saying that most people can 'hord' cars with the same ease they overbuy household staples, but I wonder how many new car purchases were made in the last 2 years that might have happened later but were accelerated due to the widespread reporting of shortages. Modern global supply chains are VERY vulnerable to any interruption and the recent global interuptions are the largest in scale since WW II. To CharlesinCharge's point, inflation has consequences but is not caused by just one variable such as monetary policy. Once the bubbles end and prices for vehicles stabilize, it will be easier to discern the impact of Govt. finance policy on inflation pressures which is a conversation that is always in play during good times and bad.

 

[pacem]

I hope you are right. I get the supply chain situation. On top of inflationary issues. I just dont understand why it will improve. We are still deep in the crisis mode.
Has something happened to improve things?

 

[Andrew1972]

My 2008 Tahoe is falling apart with too many things too fix and too high miles, not viable. I don't need right *now* but need something before it breaks down definitively, and I want to get a TT to pull with a Suburban.

Waiting does not mean the prices will come down, they seem to go up and up.. inflation maybe.

Once supply spins up more and demand met the stress on used cars market will ease and prices will go down.

 

[pacem]

Has that been in a positive sloped trend?

 

[pacem]

If I had to buy one of those two and right now, it would be the 2500 suburban. Not a home built engine, better running gear and an actual truck rear suspension.

That is a very persuasive argument actually and concisely so.

 

[Oily_Thing]

Keep looking. They both sound bad.