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Started By
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re: Who is the national market for $80k suv's?
Posted on 10/22/21 at 9:05 pm to NYNolaguy1
Posted on 10/22/21 at 9:05 pm to NYNolaguy1
quote:
I think you will find that $373k is well above the 90th percentile for household income. How is that anywhere near upper middle class?
1
Posted on 10/22/21 at 9:23 pm to Kvothe
quote:
21 lariat at around 45
No way. Where? Send me a link I’ll go buy it
Posted on 10/22/21 at 9:27 pm to highcotton2
That's a very skewed figure, applying to a very small sliver of the US.
What percentile is $373k nationwide for household income?
What percentile is $373k nationwide for household income?
Posted on 10/22/21 at 9:32 pm to NYNolaguy1
quote:
What percentile is $373k nationwide for household income?
According to the link below the top 5% is 273k and top 1% is 504k. Either way, we are talking about whether you need to be top 6% to be able to afford a nicely equipped Suburban. Anyone who does not see an issue here is out of touch with reality
LINK
Posted on 10/22/21 at 9:34 pm to Zachary
Women who’s salaries are half what the SUV cost.
Thank god for their husbands who love to waste their money.
Thank god for their husbands who love to waste their money.
This post was edited on 10/22/21 at 9:35 pm
Posted on 10/22/21 at 9:35 pm to NYNolaguy1
quote:
That's a very skewed figure, applying to a very small sliver of the US.
US News and World Report has done the work for you baw.
Posted on 10/22/21 at 9:37 pm to fallguy_1978
quote:
Either way, we are talking about whether you need to be top 6% to be able to afford a nicely equipped Suburban.
Right... Which is kind of the point.
The real issue here is the availability of credit to those who clearly can't afford it is now affecting demand driving up prices artificially. At some point that bubble will pop and the prices will come back to reality.
Posted on 10/22/21 at 9:39 pm to highcotton2
With the high # of dual income households these days... those numbers are pretty low
Posted on 10/22/21 at 9:40 pm to highcotton2
quote:
US News and World Report has done the work for you baw.
Let's do this stat for you...
Again, the point being that the market is artificially inflated when <5% of the market can afford a vehicle and yet well above that are purchasing it.
This post was edited on 10/22/21 at 9:42 pm
Posted on 10/22/21 at 9:51 pm to Zachary
20 year old land cruiser here. About to turn over 200k miles. With how smooth and trouble free it’s been, I expect another 150k with normal maintenance. I wouldn’t mind dropping 80k on a new LC (if I had the $$) because I know it would last decades and all interior bits would still work. But dropping 80k for a freaking Tahoe? Oof.
Posted on 10/22/21 at 9:55 pm to NYNolaguy1
Our economy is based on people making bad decisions. Banks, healthcare, retail sales, law enforcement, etc …., are all focused on the poor choices of others.
$80K SUVs are being bought by some people that can’t afford them. Our economy appreciates these purchases.
$80K SUVs are being bought by some people that can’t afford them. Our economy appreciates these purchases.
Posted on 10/22/21 at 10:52 pm to Zachary
One thing to consider is that the used car market is just as insane. Those $70-$80k SUV’s are mostly offset by the crazy amount you can sell or trade your old vehicle and the total paid for the new car is not as bad as it sounds.
Another thing worth pointing out is many people have income, cash or assets coming from places other than their primary jobs and use these assets to buy those big ticket items every 5-10 years.
Another thing worth pointing out is many people have income, cash or assets coming from places other than their primary jobs and use these assets to buy those big ticket items every 5-10 years.
Posted on 10/22/21 at 11:56 pm to NYNolaguy1
quote:
I think you will find that $373k is well above the 90th percentile for household income. How is that anywhere near upper middle class?
Simple
You shouldn't define middle class by percentiles. That's a horrible way to define it.
Posted on 10/23/21 at 12:00 am to Zachary
A base BMW 3 series in 1990 was over 30K
80K today is equivalent to about $38K in 1990
Hence, OP is a false premise
80K today is equivalent to about $38K in 1990
Hence, OP is a false premise
Posted on 10/23/21 at 12:08 am to The Third Leg
quote:
My last purchase was a 3 year old Mercedes with 30k miles off lease. Got it for half its original sales price and that included CPO with extended warranty covering it for 4 years
Did the same thing with 2 Infiniti’s and BMW. 16k, 18k, 20k miles. It’s the way to go
Posted on 10/23/21 at 12:25 am to Wasting Time
quote:
You shouldn't define middle class by percentiles. That's a horrible way to define it.
Except defining buying power by vehicle is actually fairly reasonable. Most cars cost the same across state lines, so why shouldn't national percentiles define who can buy what vehicle?
Posted on 10/23/21 at 12:42 am to NYNolaguy1
quote:But that's not what the post I responded to was doing. It was talking percentiles.
Except defining buying power by vehicle is actually fairly reasonable
Besides. I already showed that the SUVs you mention are actually in line with where BMWs were in 1990 in today's dollars. Which, given the fact that there's a butt ton more tech in them, is kinda remarkable.
quote:National percentiles don't define class. PERIOD. It's a dumb way to measure class. Do I really have to explain why?
so why shouldn't national percentiles define who can buy what vehicle?
Posted on 10/23/21 at 1:02 am to Wasting Time
Cost of living differences comes into play but it’s not as bad of a measure as you are making it out to be.
Posted on 10/23/21 at 1:05 am to Zachary
Is this a travel ball thread?
Posted on 10/23/21 at 5:52 am to AndyCBR
There is a market for everything these days. That baby is mint.
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