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Message
A small "sample" look at car pricing from 2010 to 2018
Posted on 4/26/18 at 9:00 am
Posted on 4/26/18 at 9:00 am
In 2010, the Ford F-150 for the highest model available had a starting MSRP of $46,740. In 2018, the F-150's highest model has a starting price of $64,275. That's a difference of $17,535 or roughly a 27 % price increase. Put another way, the price increased $2,191 per year over the last 8 years.
In 2014, the Ford Expedition for the highest model available had a starting MSRP of $58,855. In 2018, the Expedition's highest model has a starting price of $76,175. That's a difference of $17,320 or roughly a 23 % price increase. Put another way, the price increased $4,330 per year over the last 4 years.
In 2011, the Chevy Tahoe for the highest model available had a starting MSRP of $54,570. In 2018, the Chevy Tahoe's highest model available has a starting MSRP of $65,200. That's a difference of $10,630 or roughly a 16 % price increase. Put another way, the price increased $1,518 per year over the last 7 years.
And based upon Ford's recent announcement that they're for the most part exiting the car (coupe / sedan) business and focusing strictly on SUVs and trucks, I expect this trend to continue.
But at some point, when will people's "budget," if one even exists, reach a breaking point? Today, more and more people are concerned about what type of payment they can fit into their lives that what used to be a 60 month "norm" auto loan has not been stretched out to 84 months.
When does it end?
The bubble will likely have to burst soon, right? Nearly 7 out of 10 posters in this forum and our neighbors are living to paycheck to paycheck and could not come up with $1000 in cash in the event of an emergency.
In 2014, the Ford Expedition for the highest model available had a starting MSRP of $58,855. In 2018, the Expedition's highest model has a starting price of $76,175. That's a difference of $17,320 or roughly a 23 % price increase. Put another way, the price increased $4,330 per year over the last 4 years.
In 2011, the Chevy Tahoe for the highest model available had a starting MSRP of $54,570. In 2018, the Chevy Tahoe's highest model available has a starting MSRP of $65,200. That's a difference of $10,630 or roughly a 16 % price increase. Put another way, the price increased $1,518 per year over the last 7 years.
And based upon Ford's recent announcement that they're for the most part exiting the car (coupe / sedan) business and focusing strictly on SUVs and trucks, I expect this trend to continue.
But at some point, when will people's "budget," if one even exists, reach a breaking point? Today, more and more people are concerned about what type of payment they can fit into their lives that what used to be a 60 month "norm" auto loan has not been stretched out to 84 months.
When does it end?
The bubble will likely have to burst soon, right? Nearly 7 out of 10 posters in this forum and our neighbors are living to paycheck to paycheck and could not come up with $1000 in cash in the event of an emergency.
This post was edited on 4/26/18 at 9:07 am
41
Posted on 4/26/18 at 9:03 am to Will Cover
My 2010 ford was msrp of 49k
Didnt pay that but those facts are wrong
Didnt pay that but those facts are wrong
Posted on 4/26/18 at 9:03 am to Will Cover
quote:
Nearly 7 out of 10 posters in this forum and our neighbors are living to paycheck to paycheck
quote:
O-T Lounge
Did you post this on the wrong board?
Posted on 4/26/18 at 9:04 am to Nado Jenkins83
quote:
My 2010 ford was msrp of 49k
Didnt pay that but those facts are wrong
Posted on 4/26/18 at 9:05 am to Will Cover
Loans will get pushed out to 96 months and prices will keep on keepin on...
Posted on 4/26/18 at 9:06 am to Will Cover
quote:
Nearly 7 out of 10 posters in this forum and our neighbors are living to paycheck to paycheck and could not come up with $1000 in cash in the event of an emergency.
And just how did you come up with this?
Posted on 4/26/18 at 9:07 am to Will Cover
He's probably counting all the shite the dealer tries to stick you with like undercarriage sealant and window tint.
Posted on 4/26/18 at 9:07 am to Will Cover
quote:That has been the norm for at least 2 decades, probably more.
Today, more and more people are concerned about what type of payment they can fit into their lives
quote:Financing a depreciating asset for an extended amount of time has plenty of drawbacks, but, to be fair, autos last much longer than they did before, so the added months aren't as drastic of an issue as some make out.
what used to be a 60 month "norm" auto loan has not been stretched out to 84 months.
quote:You would think at some point it won't be trendy to own a "luxury" full size truck, but I don't know where the tipping point is.
The bubble will likely have to burst soon, right?
Posted on 4/26/18 at 9:07 am to ForLSU56
quote:
Nearly 7 out of 10 posters in this forum and our neighbors are living to paycheck to paycheck and could not come up with $1000 in cash in the event of an emergency.
quote:
And just how did you come up with this?
Pretty well known and accepted stat that you can look up easily.
Posted on 4/26/18 at 9:07 am to Will Cover
I dont care what you post. I still have the window sticker in a file cabinet with all my other financial shite.
Posted on 4/26/18 at 9:07 am to Will Cover
quote:
The bubble will likely have to burst soon, right?
Great question. I would think so, but how long have we heard about this auto bubble and the alleged “student loan bubble”. We’ve been hearing about both for a long time now. I guess we’ll see.
Posted on 4/26/18 at 9:08 am to Bjorn Cyborg
No im not. It was special order. Only thing i paid was the destination fee from Dearborn, MI
Posted on 4/26/18 at 9:09 am to ForLSU56
quote:
And just how did you come up with this?
Common sense
This post was edited on 4/26/18 at 9:10 am
Posted on 4/26/18 at 9:09 am to ForLSU56
quote:
Nearly 7 out of 10 posters in this forum and our neighbors are living to paycheck to paycheck and could not come up with $1000 in cash in the event of an emergency.
quote:
And just how did you come up with this?
This post was edited on 4/26/18 at 9:12 am
Posted on 4/26/18 at 9:10 am to Will Cover
quote:
But at some point, when will people's "budget," if one even exists, reach a breaking point?
I paid about 29k in 2009 for an SLT crew cab Dodge Ram. I traded it in last year for about 10k. So it cost me 19k to drive for 9 years (bought it in 2008) other than maintenance, gas etc.
I bought a similarly equipped 2017 F150 XLT for about 31k. Put the 10k down from my trade in.
You don't have to buy the 50-60k models if you don't want to. I don't need leather and heated seats on a damn truck. The sticker price is a joke and can be ignored.
Posted on 4/26/18 at 9:10 am to Will Cover
quote:
In 2010, the Ford F-150 for the highest model available had a starting MSRP of $46,740. In 2018, the F-150's highest model has a starting price of $64,275.
You telling me I could have gotten a Raptor for 46k?! Where's my time machine.
Posted on 4/26/18 at 9:11 am to Will Cover
It's a bubble that will pop. New car sales are down overall and "sub prime" auto loans are in trouble and have been for a while now. Repossessions are also booming. That's not to mention the fact that interest rates are going up. All the indicators point to a hard reset soon for the auto market which may cause a trickle effect into other sub tranche debt.
This is my take but the data is out there if you look it up.
This is my take but the data is out there if you look it up.
Posted on 4/26/18 at 9:11 am to Nado Jenkins83
quote:
No im not. It was special order. Only thing i paid was the destination fee from Dearborn, MI
Were talking about 2k or less than 5% difference and you special ordered and you're calling the guy a dumbass. That may have been your sticker price, but that doesn't make his numbers less reliable. They came from the leading auto financial site. If anybody is a dumbass it's you for thinking you paid 5% more for a non typical transaction is going to give average.
Posted on 4/26/18 at 9:11 am to Paul Allen
This is going to be interesting to watch as consumers get increasingly fed up with price gouging on new trucks.
Posted on 4/26/18 at 9:13 am to stout
quote:
It's a bubble that will pop. New car sales are down overall and "sub prime" auto loans are in trouble and have been for a while now. Repossessions are also booming. That's not to mention the fact that interest rates are going up. All the indicators point to a hard reset soon for the auto market which may cause a trickle effect into other sub tranche debt.
Can't the same be said for some select housing markets?
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