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Started By
Message
re: Car prices aren’t coming down anytime soon.
Posted on 7/25/23 at 8:20 am to WhiskeyThrottle
Posted on 7/25/23 at 8:20 am to WhiskeyThrottle
quote:You can get another 100k from it.
My tundra has 170k on it
1
Posted on 7/25/23 at 8:22 am to Beauregard96
I bought a car a few months ago, and was given a significant discount if I financed. So I financed the minimum of $5K, and was at 12%. My credit score was in the 800's (cannot remember exact #). I paid it off in three months to avoid the early pay penalty. But other than that, I have owned seven cars and had never financed (did not have to finance this one either). With that said, I buy older cars, because I don't need an expensive car.
Posted on 7/25/23 at 8:29 am to CollegeFBRules
quote:
I have no idea how the majority of households can afford this.
I’ve had many experiences in my life where I’ve found out people I know have been supplemented financially by family. I think there’s more money going around than we regular folks realize.
Posted on 7/25/23 at 8:33 am to BluegrassBelle
quote:
My neighbor has not one but two brand new trucks. I have no idea how they’re affording it.
Because people have lots of money. This forum is lying to you.
Posted on 7/25/23 at 8:35 am to WhiskeyThrottle
quote:
It's brutal. I refuse to get screwed on price AND interest
Better get something before the auto workers strike. It’s coming.
Posted on 7/25/23 at 8:45 am to OysterPoBoy
quote:
Better get something before the auto workers strike. It’s coming.
which car company?
Posted on 7/25/23 at 8:48 am to SlimTigerSlap
quote:
Because people have lots of money. This forum is lying to you.
I can promise there’s no way my neighbor is sustaining two new truck notes. They’re house poor.
Posted on 7/25/23 at 8:54 am to CollegeFBRules
Maybe one day housing market and car market will crash. Not likely to be anytime soon no matter how many people on here keep wishcasting for it.
Posted on 7/25/23 at 8:59 am to Horsemeat
Used car prices are crashing
But from all time highs
But from all time highs
Posted on 7/25/23 at 9:05 am to CollegeFBRules
Until recently, I never paid more than 30k for a vehicle. I just bit the bullet and paid 41.5k on a SUV. Pretty disgusted with myself, but it was needed.
I don't know how the hell people spend 60-70k on automobiles.
I don't know how the hell people spend 60-70k on automobiles.
Posted on 7/25/23 at 9:06 am to Tmcgin
quote:
Used car prices are crashing
Some of ya'll have strange definitions of the word crashing.
Posted on 7/25/23 at 9:08 am to BluegrassBelle
quote:
My neighbor has not one but two brand new trucks. I have no idea how they’re affording it.
84 month financing. Or leasing. It's the new American way.
Posted on 7/25/23 at 9:11 am to CollegeFBRules
Just hunted for a vehicle for two months, drove 150 miles just to be able to sit in and test drive one.
First new vehicle I've ever bought, cost more than my parents spent to build my childhood home. It's pretty insane out there. Adding to the cost and scarcity is the annoyance of dealing with dealerships who absolutely could not care less whether you buy an expensive vehicle or not (or what I think of as expensive). If not you, the guy who walks in tomorrow will buy it.
First new vehicle I've ever bought, cost more than my parents spent to build my childhood home. It's pretty insane out there. Adding to the cost and scarcity is the annoyance of dealing with dealerships who absolutely could not care less whether you buy an expensive vehicle or not (or what I think of as expensive). If not you, the guy who walks in tomorrow will buy it.
Posted on 7/25/23 at 9:14 am to tankyank13
quote:
Until recently, I never paid more than 30k for a vehicle.
I've never paid more than $20k, but have a feeling the next time I need a vehicle, I will be paying well over $30k for one and that is crazy to me.
Posted on 7/25/23 at 9:17 am to RedHawk
quote:
I will be paying well over $30k for one and that is crazy to me.
Yeah it's killing me thinking about that. Kind of looking around for the past few months and I'm not going to buy an old arse piece of junk for under $15K, so it seems like might as well go for something a year or two old and it's going to be over $30K.
Posted on 7/25/23 at 9:22 am to CollegeFBRules
Does it seem more likely that the used car market 'crashes' (reads: falls back to a more normal level) once some of these folks default on their 84 month loans, and these new cars hit the used market?
Inventory rises in the used market and prices have to fall, steering buyers away from new cars, which forces dealerships to reduce prices and/or offer rebates to keep the new market more competitive.
I'm not sure how long the process will take (guess is another 12-24 months), but this wasn't sustainable when people got their gubment money, and it's going to be less sustainable when the money's been spent. I'm just glad I bought 2 cars in early '21 before things got real crazy, so we should be good for a few years.
Maybe my 15 year old will be able to take advantage in a couple of years.
Inventory rises in the used market and prices have to fall, steering buyers away from new cars, which forces dealerships to reduce prices and/or offer rebates to keep the new market more competitive.
I'm not sure how long the process will take (guess is another 12-24 months), but this wasn't sustainable when people got their gubment money, and it's going to be less sustainable when the money's been spent. I'm just glad I bought 2 cars in early '21 before things got real crazy, so we should be good for a few years.
Maybe my 15 year old will be able to take advantage in a couple of years.
Posted on 7/25/23 at 9:23 am to Jake88
quote:
You can get another 100k from it.
That's why I'm in no rush. Probably 3 or 4 more years is what I'm looking at. Hopefully by then I'll have enough in my fund to just pay cash. Or interest rates and prices will have crashed by then is what I'm hoping for. Planning for it to not change favorably though.
Posted on 7/25/23 at 9:33 am to CollegeFBRules
Freaking Kia place around here has a 10% above MSRP add on... .it is stupid.
Posted on 7/25/23 at 9:34 am to CollegeFBRules
Neither are food prices, potatoes are way up, and now im seeing 22.6% increase in bacon from July to august.
And gas prices are up again.
And gas prices are up again.
This post was edited on 7/25/23 at 9:36 am
Posted on 7/25/23 at 9:35 am to MJackson
quote:
which car company?
Jeep, Dodge, etc
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