re: 8% of New Vehicles on the Market Cost Less than $30K

quote:

---

They don't really care all that much about the total cost.

---

Which is why in about twenty years we are going to have the majority of entire generations of GenX followed by millenials heading into retirement with $0 saved - stupid financial decisions like financing a $60k suv into $140k over the life of their ten year loans because OMG I CANT BE SEEN IN A FORD I MUST HAVE THE INFINITI *AT LEAST*

quote:

---

$20-30K is cheaper than MANY of the used trucks I've been looking at.

---

The mark here is 30, not 20

quote:

---

Karen cant be seen picking up her kids from school in a Nissan Rogue

---

You bring up an interesting shift in market behaviors. 25-30 years ago really only the kind of vehicle a man owned was viewed as a "status symbol". Women cared about what kind of vehicle a man drove. But not as much about what they drove. Most women opted for "cute" small cars that weren't terribly expensive. The husband's/boyfriend's vehicle was more important. Not so much theirs.

That's not so much the case today. Younger women still want the smaller cars...even smaller SUVs. But they want the prestige of the brand (Audi, BMW, Mercedes, etc, etc). Women with children aren't driving the mini-van any longer. They want the 75k+ large SUV (Yukon, Tahoe, Infinity, Lexus, etc). Given that women are the largest demographic in the US, that is a BIG market shift.

25-30 years ago it was FAR more likely a man would buy the expensive vehicle. Today, it is equally has likely a female will. Maybe more so.

quote:

---

2013 Chevy duramax, blown head gasket, first thought was to trade it in. After some online window shopping, I’m paying the $6500 repair bill.

---

Well this doesn’t seem smart.
What comes next soon in the repair cost?

These threads always reek of jealousy.

quote:

---

And yet, people are gladly paying over $1000 a month on a vehicle note

---

Just absolutely retarded. I’ll never buy a brand new vehicle again

quote:

---

Which is why in about twenty years we are going to have the majority of entire generations of GenX followed by millenials heading into retirement with $0 saved - stupid financial decisions like financing a $60k suv into $140k over the life of their ten year loans because OMG I CANT BE SEEN IN A FORD I MUST HAVE THE INFINITI *AT LEAST*

---

Totally agree. It is a huge change in mindset that really started in the 80's, which was the decade of conspicuous consumerism.

My parents are in their mid 70's and retired. They saved all of their working lives and see it as somewhat of a badge of honor they will be able to pass on their savings to their children in the form of an inheritance. I tell them all the time that they owe me no inheritance whatsoever. That they paid for everything to get me to the point where I could be a self-sustaining adult, and that they should enjoy their money and the fruits of their labor in retirement. Doesn't matter. They are proud they can pass something on to their kids. That means more to them than a luxury vehicle.

That is not the same mindset now. Far fewer people are saving like prior generations did. Now, some will say that is because the cost of living is so much greater now than then and people can't save like prior generations. There is probably some truth to that. But is that because the lack of emphasis on saving is the reason the cost of living has risen so dramatically? Sellers can only sell a good at the max price people will pay. If the willingness to pay the max price continues to go up sellers are going to simply keep raising their prices.

When it is not all that important to have a lot of money saved for "tomorrow" you are willing to spend much more of it "today".

quote:

---

Less than $30K

---

less than $300 for 108 notes

I’ve thought about that, I can spend 15-20 thousand on this truck and get another 100-150 miles. Screw these new truck prices.

quote:

---

Just absolutely retarded. I’ll never buy a brand new vehicle again

---

At least right now, the used car market doesn't offer all that big of a savings over the new car market.

Another interesting thing is the concept of "forced obsolescence" in the car industry. Today's vehicles are so computer reliant that it may be likely a car's potential lifespan is hard-capped because the technology to keep them running for a long time will constantly change an eventually become unavailable.

With a little bit of effort and TLC, a car from the 60's and 70's can still run today with no issues. If something breaks, you can often still fix it. But what happens when something breaks on your 2017 vehicle and the critical computer component needing to be replaced is no longer available?