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re: New cars, once part of the American dream, now out of reach for many

Posted on 5/8/23 at 3:09 pm to
Posted by tide06
Member since Oct 2011
11274 posts
Posted on 5/8/23 at 3:09 pm to
quote:

The gap is not as wide but there is still a gap. Otherwise, such car dealerships would have gone the way of the dodo bird.

I drove a full size SUV for three years, put 45k on it and sold it for 1k less than I paid for it about a year ago.

The old depreciation model is dead at least for the moment.
Posted by teke184
Zachary, LA
Member since Jan 2007
96586 posts
Posted on 5/8/23 at 3:12 pm to
According to market value, yes.

According to KBB, it is damn near worthless if some worthless motherfricker totals your car, as the payout isn’t necessarily going to be enough for a good downpayment on a replacement.
Posted by Diamondawg
Mississippi
Member since Oct 2006
32409 posts
Posted on 5/8/23 at 3:22 pm to
quote:

I drove a full size SUV for three years, put 45k on it and sold it for 1k less than I paid for it about a year ago.
Trade in or to an individual? That was likely due to inflation because the new one you replaced it with rose a commensurate amount over the time you had the SUV.
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