Trade In Values?

[chargeme]

Curious where you think the used market for Hummer EVs will stabilize in the next few months? A recent post on FB mentioned a 2024 Hummer EV 2X with 14,891 miles getting an offer of $72,700.

 

[El Chorizo]

I think there are so many new ones on lots with discounts. I think the trade-in values will keep dropping.

 

[super8]

One of the biggest factors preventing me from buying has been the depreciation. While I know all vehicles lose value, it’s tough to imagine losing $20,000 to $30,000 in just one year

 

[roadking]

20% the first year is quite normal on all vehicles. The bigger issue is what will they be worth in five years.

 

[Dragoon]

That's a pretty low offer! Especially since that was at least $100k MSRP.

 

[super8]

I have a feeling that in 2-3 years, when the leases run out, there will be a huge influx of used ones for sale.

 

[Mumvie]

Earlier today I took the VIN number from a $151k Hummer 3x SUT and put it in Tesla's trade-in offer page. They offered $97,200. 36% drop from MSRP.

I then took the VIN from a 103k Hummer 3x SUT and it was the same exact offer. $97,200. Only 6% drop from MSRP.

All the extra features on top of the base price are essentially worthless for the trade-in value. They are probably worth something for a private sale though.

When you buy a vehicle like this you should expect to lose at least 50% very quickly. That's the price for having the latest, most cutting-edge vehicle in this price range. If you buy it with that mindset, you won't be too disappointed when you want to trade it in for the next new shiny toy .

 

[Dragoon]

That's a clever way to check values quickly! I'm surprised there wasn't a difference between the two Hummers you checked.

 

[super8]

I just ran a quick comparison on the trade-in values for the 2x and 3x Hummer EV SUV, both with 500 miles. I was surprised to see the 3x come in $8,500 higher!

 

[Mumvie]

Just be prepared for Tesla to keep calling, texting, and emailing you with offers! lol

 

[super8]

Just be prepared for Tesla to keep calling, texting, and emailing you with offers! lol

I used my buddy [email protected] to check

 

[Mumvie]

Prices are tanking on all the 100k electrics.

The Cyberbeast, for example, has lost 10k per month for the past 3 months straight

$140k 3.5 months ago
$112.5k today

Personally I think the Cyberbeast is worth $79k and the Hummer 3x is worth $110k.