Which to keep, Denali or LX470?

[DAA]

So, it's time to start looking for a new car for my wife Cindy. Nothing wrong with her old one, except that it's old and she is past due for a new one.

She drives a 2004 GMC Denali. We have been the only owner, it has always been meticulously maintained, only has 85,000 miles on it. It's in great condition. No rust, only a couple scratches, interior is in great shape, rides as good as it ever has, etc. Just looking at KBB and it looks like the trade-in value on it is going to be way low though. Like, less than $5K low. I'd have a hard time letting it go that cheap. But, if that's what the market is, then it is what it is.

But we also have a 2002 Lexus LX470 that my daughter drives, it has 180,000 miles on it. It's pretty rough. It was actually a company car, that two of my old co-workers had, before it became mine. I know it has been meticulously maintained for the last 80,000 miles that I have had it, but not too sure before that. But it's rough. Passenger front fender is dented and rusty, running boards are dinged up, paint isn't very good and is especially bad on the hood, wheels are original and totally roached out looking. Interior is pretty roached out too. It does run fine and ride very nice, and is about the best snowy/slippery road vehicle ever.

Between the two, the Denali is a way nicer car, if you ask me. And I think it has more life left in it than the LX. But, looking at KBB, it actually looks like I could get more for the ratty old LX470 than the minty clean low mile Denali. Looks like, I could probably get at least $6K out of the Lexus? Again, if that's what the marked is, then it is what it is.

So... Originally, I was hoping to trade-in the Denali on the new car, or sell it privately if the trade-in offer was too lowball (I'd rather just do a trade-in if the offer is fair). But now, I'm thinking, if I could actually get more for the Toyota, why not sell or trade it instead, and let my daughter drive the Denali. The GMC really is just a WAY nicer car - which is why I have such a hard time wrapping my head around it being worth so little. But, if that's the market?

I guess what I'm wondering, is KBB steering me pretty straight? Could I really only get $5K out of a super clean low miles 2004 Denali? Can I really get more than that for a roached out 2002 LX470 with 180K miles?

Lots of you have way, way more experience buying and selling cars than I do. What think y'all?

- DAA

 

[mbryson]

I'd agree with you on keeping the lower mile rig. I don't think either of the above are bad rigs at all and I'd assume you've worked out any bugs in the LX by 80k miles? What does your daughter want to drive? I'd bet the LX electronic gadgetry will soldier on a little longer than than the Denali stuff?

I'm a little surprised the Denali doesn't book about $7-9k but you can buy a Tahoe/Yukon of that era (granted, they'll have at least 100k more miles than that) for $3-6k in decent shape. Trade value is always LOW but that's where I try to buy unless I find something that I REALLY can't live without.

I would assume you'd sell the LX within a few days and likely be selling the Denali for a few weeks on KSL or FaceBook Marketplace? I think if the LX was a LandCruiser you'd sell it even faster than it being a Lexus?

 

[DAA]

What does your daughter want to drive?

I haven't breathed a hint of this to her and she's not going to be consulted . But I bet she'd be thrilled to death to make the switch.

I don't trust the electrogoofery of either one. At all. The LX has way more of it though. Other than suspension and door locks/windows, there's not much else going on with the Denali. That LX is constantly fiddling with itself though.

- DAA

 

[Hickey]

We've been looking for a Denali lately and would be interested in purchasing yours. Can you post some pics?

 

[kmboren]

We've been looking for a Denali lately and would be interested in purchasing yours. Can you post some pics?

If he passes I would possible be interested. My wife could use a new to her car. That sounds like the ticket.

 

[TRD270]

On that old of a trade you probably won't even get book value. They will likely look at what they are selling for at auction, at least that has been my experience. I took my truck into a dealer to see what I could get because I'm tired of the misfire, the offer was so low that I'll just keep driving it. They offered me about half of trade in value on my truck, which is also in very good shape and about half the miles of most on the market from the same year.

 

[I Lean]

The answer is simple. Take the powertrain out of the Denali for your Jeep....then ignore everyone else's needs. Who cares what, or if, they drive anything anyway?

 

[DAA]

The answer is simple. Take the powertrain out of the Denali for your Jeep....then ignore everyone else's needs. Who cares what, or if, they drive anything anyway?

Oh, believe me, that thought has more than crossed my mind! I think the donor has to be at least as new as the recipient though and my LJ is two years newer.

Here is a pic or the Denali when it was new. As far as how it looks, honestly, it doesn't look any different now. Wheels not quite as new looking I guess, and it has Hankook's on it now (almost new).

- DAA

 

[Hickey]

I think we will pass, as we want something a bit newer. I think you could easily sell it for $6k though. Trade in would be horrible.

 

[Kevin B.]

I think you should keep the Denali and make me a deal on the 470.

 

[Hickey]

So, I guess we are interested after all. Lory wants to look at it.

 

[kmboren]

It looks like you could sell either one here on RME. Send me a PM if your interested in selling. I am pretty sure I can talk my wife into it. As we are about to put some money into her 04 Minivan. I wouldn't and would buy this instead.

 

[kmboren]

So, I guess we are interested after all. Lory wants to look at it.

Boo.

 

[gatchmo5710]

The GMT800 with the LQ4 that low of miles will sell fast. DO NOT TRADE IT IN!! But i wouldnt sell it either. IVe got a 02 that i just go done building. They flat out work. Eventually the drivetrain will go into my cherokee. I would happily beat any trade in by 1000$

 

[DAA]

Going to have to make some rounds of the dealers, see what I can see, that kind of stuff. But, you guys have pretty much convinced me not to do a trade. Which, frankly, I have never done a trade in before. I have always sold my old vehicles separately. But selling stuff is a PITA. I hate selling stuff. And you do get a sales tax break on trade in value. Was thinking/hoping to just hit the easy button on it this time. But, kinda sounds like this wouldn't be the time to start doing a trade in.

Like I said, need to do some sniffing around before I commit to a course of action. But I think y'all really have got me leaning heavily towards not doing a trade in - unless the dealer makes me an offer that sounds too good to walk away from - which sounds extremely unlikely. I think I am leaning towards keeping the Denali too though, and selling the LX470 instead - I think I can get more for it and reducing the debt shock of a new car loan is the goal.

Hoping to have enough ducks in kind of a line to make a decision by this weekend.

- DAA

 

[frieed]

I'm getting out the popcorn. It's always major drama when you go to a dealer

 

[Caleb]

Something to consider is on trade, it directly lowers the amount you have to pay sales tax on. With that said, you will get screwed on a trade (most likely). I would not be one bit shocked for them to offer 50% or less of trade-in value. Like TRD270 said, I highly doubt they'll have any interest in selling something that old and will just get auction values. Most of the time, if you're getting a fair trade-in value, it means you're probably getting screwed on the new car price I usually trade and get screwed on it, mostly because I hate dealing with people...especially people that have watched too many wheeler dealer episodes and think they need to negotiate every deal

If it were me, I'd be keeping the better of the two despite book value and get rid of the other.

Good luck man!

 

[frieed]

Once I did a thing, and mind you this was in Texas over 20 years ago, but the dealer processed the title transfer for a private sale and was able to apply the sales price to the new vehicle to reduce the taxes.

 

[bryson]

Once I did a thing, and mind you this was in Texas over 20 years ago, but the dealer processed the title transfer for a private sale and was able to apply the sales price to the new vehicle to reduce the taxes.

That's not likely a smooth process (depending on dealer I suspect), but I know it is still done these days.

 

[TRD270]

Once I did a thing, and mind you this was in Texas over 20 years ago, but the dealer processed the title transfer for a private sale and was able to apply the sales price to the new vehicle to reduce the taxes.

My father just did this actually. Same story was getting boned on trade in. He sold his truck to a private party thru the dealer and got the tax break on his new Ram.

Not sure what dealer. I can ask if you want.