I came up with a TMV (True Market Value) of $58,357 when I ran the numbers here at Edmunds. That price includes $3,000 in current incentives. I may have picked the wrong options packages in getting to my number, but it should be close enough for this exercise.
I don't know of any good rule of thumb for discounting a new car that has demo miles on it.
Some people suggest fifty cents a mile as a rule of thumb (tracking the IRS rules for what they think it costs to operate a car). I didn't look up the current IRS number but 5,000 miles x .50 comes out to a $2,500 deduction. That brings your price down to $55,857, so the number the dealer gave you does look good if you like that method.
Another exercise would be to look at the TCO (True Cost to Own) and back out depreciation. The first year's depreciation on this SUV is $13,855 based on 15,000 miles a year. 5,000 miles is one-third of that and one-third of $13,855 is $4,618. Using that number brings your number down to $53,739, a bit less than the dealer is asking.
So, you may as well float a number closer to $52 or perhaps even $50k and see if the dealer bites. And check the Yukon XL Prices Paid discussion on CarSpace - some people may be doing even better.
Another thing to do would be to ask the dealer how they arrived at their number. Maybe they have a demo program through GMC and they got this vehicle without having to floorplan it and thus saved a pile of interest. Who knows. Dealers often seem a bit proud of their demos.
Have fun dickering and I'd be interested to hear how the dealer reacts to your offer. (You can use the Answer this Question button to reply).
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