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re: Is it Really That Bad Out There?

Posted on 8/19/24 at 8:49 pm to
Posted by N2cars
Close by
Member since Feb 2008
37909 posts
Posted on 8/19/24 at 8:49 pm to
They were paying top dollar for clean, used trucks then.

Now, not so much.
Posted by Rize
Spring Texas
Member since Sep 2011
18666 posts
Posted on 8/19/24 at 8:53 pm to
Dealer said they could resale it for 67k to 70k.

I ended up doing an in and out with my brother because it was the cheapest truck he could find.
Posted by N2cars
Close by
Member since Feb 2008
37909 posts
Posted on 8/19/24 at 8:55 pm to
quote:

in and out


A lot of places hsve gotten real chickenshit about doing that now...

Posted by fallguy_1978
Best States #50
Member since Feb 2018
53076 posts
Posted on 8/19/24 at 8:56 pm to
quote:

Traded the 2017 F-250 for the 2022 for like 20K. Never gonna get a deal like that again..

Carfax says my 2017 F150 is worth right at 20k on trade. I doubt I'd get it though. I'll drive it into the dirt at this point even though I could afford a new one. I'm about to have another kid in college soon.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
19464 posts
Posted on 8/19/24 at 9:03 pm to
Yes

The people buying those are happy with paying a house note for a vehicle just to have something flashy.

I personally think those folks are massive morons
Posted by N2cars
Close by
Member since Feb 2008
37909 posts
Posted on 8/19/24 at 9:06 pm to
Trucks are all about condition.

Clean ones will always bring good money.

Let's say you paid $50K for it in 2016.
Let's say you put 80K miles in 6 years, no wrecks, no stories; it's still worth almost 50% value.

Not too bad...
Posted by Giantkiller
the internet.
Member since Sep 2007
24490 posts
Posted on 8/19/24 at 9:06 pm to
I'm gonna tell you what, it does kind of mess with the whole political argument, for or against.. I'm a pretty big Trump guy and I'm campaigning hard for him... conversationally anyway.

But at lunch a few weeks back, talking to a somewhat less informed subordinate, he was like "I'm doing ok. Why do we need Trump?" And i was throwing out all the buzzwords and this and that. Foreign policy, inflation, blah blah blah.

It's tough to really get people fired up. People are doing ok. What do you say to get them motivated to make a big change?
Posted by xBirdx
Member since Sep 2018
2306 posts
Posted on 8/19/24 at 9:10 pm to
Yea, but (I would assume) you are the exception.

Maybe I’m wrong, idk.
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53076 posts
Posted on 8/19/24 at 9:11 pm to
quote:

Let's say you paid $50K for it in 2016.
Let's say you put 80K miles in 6 years, no wrecks, no stories; it's still worth almost 50% value.

I paid 32k for it in 2017. MSRP was more like 42, but everyone got 10k off sticker at that time.

It's an XLT crew cab in excellent condition with 60k miles on it, but it's crazy they are 50% more now. There were times during Covid it was 4 years old and worth more than I paid for it.
Posted by Rize
Spring Texas
Member since Sep 2011
18666 posts
Posted on 8/19/24 at 9:14 pm to
quote:

Yea, but (I would assume) you are the exception. Maybe I’m wrong, idk.


I think you may underestimate how much money people make. I know my brother works at a plant and makes 170k to 200k depending on how much overtime. His wife makes about 40k so they are over 200k a year.

There’s a shite load of those type couples in Baton Rouge.
Posted by LSUSports247
Member since Apr 2007
977 posts
Posted on 8/19/24 at 9:17 pm to
I’m looking at 2024 XLT right now that is 11k off but still 50k. Not sure if I wait another year will be better or not. Will prices go down more or be higher next year?

My trade is worth 24k according to KBB. If I wait another year, I’ll have to buy new tires too.
This post was edited on 8/19/24 at 9:28 pm
Posted by Grievous Angel
Tuscaloosa, AL
Member since Dec 2008
10707 posts
Posted on 8/19/24 at 9:17 pm to
quote:

I swear I see 20+ new models of vehicles that go for $90k+ every day driving around town


My favorites are the 100k trucks with "disability" tags. I'm sure the government/VA is paying for them.

Start looking around. You'll see them everywhere. I wish I hadn't noticed.
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53076 posts
Posted on 8/19/24 at 9:24 pm to
quote:

My trade is worth 24k according to KBB. Wait another year and I’ll have to buy new tires too.

I'm not sure what prices will do in the short term. I'm hoping to just drive mine a good bit longer and see how long it lasts. It's crazy how little they depreciate now.
Posted by GEAUXT
Member since Nov 2007
30405 posts
Posted on 8/19/24 at 9:26 pm to
quote:

Is it Really That Bad Out There?


Yes, it is. People have just become so comfortable with having crippling amounts of debt to support their lifestyle they don't realize it.

There are several houses in my neighborhood and that have been under construction for over a year (some close to 2) because the folks ran out of money. These same people are constantly bragging to their friends about all the latest plastic surgeries they're getting and they're latest trips and new cars. People are addicted to being fake and putting on airs.
Posted by OceanMan
Member since Mar 2010
22680 posts
Posted on 8/19/24 at 9:31 pm to
This economy is incredibly over leveraged at the government and consumer level. Very likely in the Corp level as well
Posted by baxter12
BATON ROUGE
Member since Nov 2012
521 posts
Posted on 8/19/24 at 9:47 pm to
Here is my question of all those household 200-275 gross income if one higher earner are both earners lost there jobs , how long could they make those payments??

1) with out leveraging retirement accounts - which I guarantee you over 15%of earners over 90k have loans against

If you can go 3-6 months like a Dave Ramsey recommends you are doing something right IMO
Posted by LemmyLives
Texas
Member since Mar 2019
13318 posts
Posted on 8/19/24 at 9:47 pm to
I think what you're missing, is that you and your fam expect to try to pay your bills. Some people don't. When you sign a Charger Hellcat at 20% interest, but you have no intention of paying until it gets repoed, nobody even comes looking at you for months. Even if they can find it, you don't care. Open a loan in baby momma name, get another one.
Posted by TCO
Member since Jul 2022
3261 posts
Posted on 8/19/24 at 10:08 pm to
quote:

Gotta get you that $1,100/month payment for just 84 months if you want to keep up with Braxton's Mom and Dad, baw.


While funny and accurate, this joke is played out.
Posted by Big Jim Slade
Member since Oct 2016
6252 posts
Posted on 8/19/24 at 10:09 pm to
Gordon gettin’ it done, getting families that tax free supplemental income from the insurance companies for the crash that totaled their last car. .
Posted by athenslife101
Member since Feb 2013
20220 posts
Posted on 8/19/24 at 10:13 pm to
I am conservative financially, make over the average household income, and I’m struggling I’m stressed about $300 payments for a Corolla

I have no clue how people are able to be doing the stuff they are and I find it extremely depressing
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