Auto price guides have yet to catch up with reality when it comes to the Excursion. They are just simply wrong. After as many years as they have been wrong, I'm convinced they dont care. Good clean ones are worth, and frequently sell for, more than KBB suggests.

 

So who do dealers and banks use? Or do they look at market average?

Obviously a bank isn't going to loan someone $13000+ on a vehicle that book values only list at 6k to 8k.

Hell it's been so long since I financed a vehicle do banks/credit unions still even offer loans on vehicles that old? I understand a 2000 Excursion in great shape with under 150k miles is an awesome vehicle, but are banks willing to loan people the money they sell for, for a vehicle that's almost 20 years old?

 

This is something I can talk about with a bit of authority. I currently have two trucks. A 2000 Excursion, 4wd v10, and a 1999 Suburban 2500 2wd 6.5TD. I have had the Sub for about 3 years and just bought the Ex about 3 months ago.

it took me a year of looking to find my Suburban. 1999 was the last year for a factory diesel in the Subs, and they are not too common. I bought it with 145k on the clock and it now has just under 180k. Very reliable in that time, no major issues, just minor problems to be expected in a used truck. I average 13.5MPG with a top of 18MPG highway unloaded. Worst was towing almost 10k about 100 miles, mostly uphill, for 12MPG.
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I bought the Suburban for a specific reason- I wanted a diesel tow vehicle for a coming move to Maine. I am going to have my shop tools and all our belongings on a 12-14k trailer, with my family of 5 in the cab. As time wore on, I had 3 concerns pop up-
1- liability. The Sub is rated at 8k towing. I know emperically it will do more without a problem, but I was concerned with towing a 12-14k trailer, so far over the rating of the truck, driving from California to Maine. We will have a good amount of money in the bank for the first and only time when we make the move from selling our house here to buy a one in Maine. If I knowingly over tow, weight wise, and get into an accident, I figured I would be up the creek pretty bad and could lose all that money, which we dearly need to buy a house, regardless if I was at fault or not. So, we started looking for something at a price we could afford that could do what we were asking of it on paper as well as in reality.
2- Difficulty of running a diesel in Maine. Some have said it is not an issue, some have said they have difficulties starting a 6.5TD below 20 degrees. This was something I was concened about.
3- 2wd with the possibility of moving to northern Maine. I decided I wanted to go with a 4wd for back country driving and, more importantly, snow driving.
4- bonus concern I just remembered- parts availabilty. 6.5 parts are not common compared to v10, or even newer diesel parts. I was worried about being stuck in the middle of nowhere for a week while parts were ordered in, on our trip back to Maine.

So, I decided to look for a replacement for my beloved diesel Suburban. I wanted a diesel, but couldn't find anything in the price range that would suit. I had settled on an Excursion for a couple reasons- nearly 12k rated tow capacity. If I beefed up the suspension a bit I felt much safer, legally, going slightly over with a 12k trailer than going almost 1.5x over with the Suburban. I was also looking for a 4wd, which the Ex has. Also, being basically a Super Duty mechanically, I figured parts would be easier to come by if needed on the road. For money reasons as well as starting concerns in Maine, I started looking for a 4x4 v10 Excursion and found it a couple months ago in a 2000 model with 165k on the clock and just at my budget threshold of $5k.

Comparing them, I like the feel of the Ex more. It is wider inside and feels much bigger. Ride is smoother in the Sub, which will be made even worse when I swap out to F350 springs and new shocks on the Ex. Fuel economy is dismal with the v10. I average 10.8 around town, 13.5 highway. Quite a bit lower than my diesel Suburban. The Ex is a little faster off the line but once you are up to speed, the difference in power is minimal. Both are comfortable inside. I like the 3 way door on the Ex vs the barn doors on the Suburban in the back. Opening rear vent windows is nice on the Ex when the kids sit in the 3rd row. Otherwise, not a whole lot different between them. I will miss the Sub for the fuel economy though.

So, now I need to sell the Suburban. If you have any questions about comparisons, let me know. If you are in So Cal, you are welcome to come by and check them both out before I sell the Suburban so you can see a side by side for yourself.

 

I have to assume people are paying cash or less likely, taking out personal loans.

I got a loan on my first Ex, a '04 in '09 for $9999 as that's all they would loan for. So I came up with the cash to make up the difference ($2k).

Sold it for a profit in 2010, bought my 2000 for $7,500 cash. The 2000 was totaled 2 months later and I then paid $10,800 cash for my current 2002.

 

I financed an 08 Corvette last year. A lot of banks and credit unions still have the 6 year max on used vehicles, but places like USAA seem to go primarily by value. When I financed my Excursion in 2011, if not for my trade in, they would not have been able to finance it all. It is paid off now and I could probably sell it for almost what I paid.

 

KBB doesn't take into account the "refresh" most of us do between 180k-220k.

It also doesn't take into account the relatively low cost of adding 200k to the life of these beasts.

KBB knows nothing about performance and other mods, for which the SuperDuty is a very good platform, with well known mods the average DIY garage mechanic can (and often does) do.

So when reading KBB, remember, that is likely with NO mods, no refreshes, and no interior care.

Will a bank loan on that higher value? I have no idea. Many of us save up and shop, then have to be ready to pounce on the one we want- or miss out

When I found mine, I spoke with the PO on Sunday, went to bank on Monday am for the cashier's check and cash, hopped on the plane Monday afternoon and arrived in FL Monday late afternoon.

Within 24hrs I was onsite from PA to Miami with money in hand and little else besides a small bugout bag

"I got calls from Canada who said they will send someone over to take a look at it for me. I told him you were already on your way," is one of the stories he told me when he and his buddy picked me up at the airport.

If I had to wait on a bank, likely one of YOU GUYS would probably be driving my Excursion

 

Always remember and never forget.... anything is worth just what someone is willing to pay. Often subjectiveness plays a part in purchasing a vehicle.

For me the choice "became" either a SD pick up or an Excursion. I use the truck for towing long distances with lots of stuff and multiple dogs and I knew I'd still need a topper for a PU about 90% of the time. So how many choices do/did I have?

For me it was 2.... a 2500 Burb or an Excursion. The Excursion checked virtually every box. So it became very objective for me. Once I knew what I needed then... condition+price=purchase

The condition was very good (not excellent) and the price was higher then I wanted to spend but was commensurate with other Excursions I looked at.

Now that I own an Excursion I can be a bit subjective about what and how I modify/upgrade my truck.

 

Two years ago, in SoCal, I bought a 2000 PSD with a loan value of $12500 from a credit union. I was right at the limit to what they would lend on the age of the vehicle. They didn't even look at the KBB, they just wanted to know the model year and the amount.

 

Yeah I plan on paying cash, my last 5 vehicles I've paid cash on. I like not having a loan

I was just curious because with what new vehicles cost, older vehicles have also sky rocketed. I know some people can afford to shell out $20,000 for a 15+ year old vehicle, but at the same time a lot can't, and when that's what a lot of them are costing, someone has to be loaning that money! (this is not specifically referencing the Suburban or Excursion, more so HD pickups)

 

Yeah, "cash for clunkers" was a 'brilliant' move. "They must be crushed"

 

I have always been told, and always seen, when it comes to performance upgrades and mods those do not add to the value of the vehicle UNLESS someone is looking for that stuff specifically. I've never known someone to make back what they spent in mods (performance or aesthetic). Most people are indifferent to those upgrades or don't want them at all

 

Nearly EVERY used-car lot will self-finance. Because:
* They charge 20% interest
* They HOPE you default and they can re-possess and then re-resell it
* They want to unload to the person with poor credit who has fewer options.



Go in prepared to write a check (give a Credit Card) for a deposit for the amount you WANT to pay and say: I will buy-it right now for $xxxx and when they
say, oh now, we need at least $yyyy, just say, well, I can go as high as $zzzz and sign right now!

 

Except here on FTE. We're all nutz for mods

 

And some Mods (moderators) are nuts.

 

I always discuss out the door price and finalize it before any mention of how they will get the money.