GMC Yukon XLT or GMC Denali: How To Lose Money on American Cars

If bying an American truck means that it is going to be depreciated in just a few months, then it is not worth buying any American vehicles at all. That is what I am led to think about after losing more than $20,000 in a GMC Yukon in 2005. We bought our truck for 35 grand and hoped that it would last a long time with the values associated with owning an American-made vehicle. It was in the midst of "bigger was better." There was no reason for us not to buy the truck. It was the synonym of anything and everything good about the American auto industry.

In just one year, the values of trucks fall. Buying GMC trucks and others becomes easy. More and more people do not want to bother with them. After losing so much cash, I thought that should it have been a Toyota or Honda, the resale values would still be there. I watched how some of my friends lost money on their GMC trucks. So, what I did was to bite the bullets. I did not think it was a good idea to sell. I would still have to make the payments to the bank.