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310k Miles for $20,000, Is This Survivor '97 GMC Suburban a Good Deal?

1997 GMC Suburban 15 photos
Photo: Classic Autotrader Anonymous Seller (Edited by autoevolution)
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There's a certain class of vehicle that, no matter what trend the market is taking at the moment, will always hold its value pretty much until the end of time. We're of course talking about classic heavy-duty pickup trucks and SUVs. Back when the difference between a GMC and a Chevy SUV was often a different coat of paint and literally nothing else, some of the hardware General Motors put out at that time was still drool-worthy levels sought-after in 2024. That's in spite of how sub-bar the quality tends to be at times.
Only in the timeless of raging, relentless inflation and new truck prices equalling small mortgages does this 1997 GMC Suburban 1500 have any right to sell for $20,000. But that just happens to be the exact world we live in right now. With that in mind, let's take a look at some of the details. Coming from the period before GM split the Chevy/GMC Suburban into two different models with the Yukon XL, the eighth-generation Suburban from the GMT400 architecture was a dinosaur trying to make its way into the 21st century.

With a square body sporting lines so straight they make Spongebob jealous, GMT400s, be they GMCs or Chevrolets, didn't even try to hide their blood relation to the old gen-III, Rounded-Line C/K Suburbans. Simultaneously, Father Time dragged the GMT400 kicking and screaming into the digital age. Items like non-proprietary OBD diagnostic software and front drivers-side airbags made their debut on the Suburban model, starting with the GMT400, as did the OnStar communications suite, which is now ubiquitous throughout the GM lineup.

The GMT400 Suburban's engine lineup was less eclectic than the brand's in earlier iterations. All you got for 1997 was the choice of a 350-cubic inch (5.7 L) small-block L31 V8 with fuel injection, a 454-cubic inch (7.4 L) sixth-generation L29 big block V8, or a 6.5-liter GM-Detroit Diesel V8. No straight sixes or middle-of-the-road V8s this time around as in years passed. This particular ultra high-mileage '97 Suburban for sale out of Bloomfield, New Mexico, sports the fuel-injected, 5.7-liter motor. Safe to say, it's in remarkable shape after 301,912 miles or north of 485,000 kilometers.

For such a well-worn chassis, the white exterior and plush burgundy cloth interior appear to be in remarkable shape for their age and wear. Granted, the interior plastics don't look that great, but neither did they when they were brand new. But with practically brand-new tires and a totally unused optional rear towing package, this Suburban is a strange chimera of well-worn and perfectly preserved late-90s GM hardware. But for once in our lives, we have ourselves a genuine and honest seller because this one's noted they've run up an estimate of $3,100 in transmission repairs.

But like a true gentleman/lady, the seller did mention that once they had a buyer, they'd either pay to have the work done or reduce the price by the total amount of the parts plus labor. Now, how's that for a pre-purchase inspection? If only that weren't such a rarity anymore. But what do you all think? Is a quarter-century-old GM product with wonky transmissions and more miles than an Apollo command module really worth 20 grand? Or are there roughly a million different, better vehicles out there you could buy for the same money? Let us know in the comments.
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