King-size electric SUV lost almost $45,000 despite having hardly been driven and never being titled
1 hour ago
- A virtually unused GMC Hummer EV sold at auction for 32 percent less than its MSRP.
- The 2024 3X Omega Edition cost $140k new and went for $95,500 on Bring a Trailer.
- Although it’s covered 404 miles, the Hummer had never been sold to a private owner.
We all love the idea of getting our hands on a brand new car, but the depreciation all but the most rare-groove, in-demand models suffer is a bitter pill to swallow. Take a look at this GMC Hummer EV for proof. It just sold on a well-known auction site for $45k less than its MSRP despite having only been driven a few hundred miles.
A Hummer 3X, it would have cost $104,650 in base form, but this one came with some choice options. The most significant of those is the $23,355 Omega Edition package, which included Neptune Blue matte paint, transparent removable roof panels, 18-inch beadlock wheels and black emblems. Then there’s Off-Road package that added skid plates, underbody cameras, locking differentials – and a further $9,995 to the price.
Related: $36,000 Off MSRP After Just 303 Miles? This 2025 Hummer EV Buyer Pulled A Heist
The total with-options MSRP came to $140,295, yet the auction hammer price for this GMC Hummer EV SUV was only $95,500. In an earlier listing on Bring a Trailer, bids reached $95,750 but that wasn’t enough to hit the reserve and it failed to sell. A week later, with the Hummer listed again on the same site and the reserve now removed, somebody got themselves a steal of a deal.
Visually, this 830 hp (842 PS) triple-motor Hummer looks as good as new, which it ought to considering it’s covered only 404 miles (650 km). That’s about as much driving as the average American might do in two weeks and means the huge 200+ kWh battery won’t have degraded.
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Compounding the good-as-new feel is the fact that whoever won this auction will be the first owner. The SUV was never titled because it hasn’t been sold to a private party before and is being offered by the dealer with its Manufacturer Certificate of Origin.
Buying a zero-mile new car can make sense if the dealer has a great zero-percent finance deal to go with it, something not open to auction buyers. And yes, this is a 2024 model rather than a 2025, which helps explain some of the depreciation. But it’s hard to argue with a $45,000 saving on the MSRP, and at least a $25,0000 saving on a 2025 model with some (but not all) of the same options.