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re: New cars, once part of the American dream, now out of reach for many
Posted on 5/8/23 at 3:02 pm to notiger1997
Posted on 5/8/23 at 3:02 pm to notiger1997
quote:The gap is not as wide but there is still a gap. Otherwise, such car dealerships would have gone the way of the dodo bird.
This old man idea stopped being a real strategy 10 years ago baw.
Especially true with trucks.
I used to laugh(and still do) when you hear someone say, that dadgum car is worth 30% less the moment you drive it off the lot.
1
Posted on 5/8/23 at 3:05 pm to Fun Bunch
quote:
Its this. They are taking out 7 year loans on them.
7 is nothing now.
Posted on 5/8/23 at 3:08 pm to tiggerthetooth
quote:
Worse and it's by design.
Ditto for washing machines, dryers and refrigerators.
I've completely rebuilt our Kenmore washer from 2000. New motor, new timer boards, new everything.
Posted on 5/8/23 at 3:08 pm to boogiewoogie1978
Our vehicles were paid for long ago. Unfortunately, my truck needed a repair worth about half the value of the vehicle, so I gave in on getting a new one. I couldn’t believe the price of new vehicles. Not to mention, there are no incentives to pay that premium.
I stayed patient and finally found a 2018 F150 with low mileage. Saved about $50K. Couldn’t be happier.
I refuse to pay $80K for a 1/2 ton pickup truck.
I stayed patient and finally found a 2018 F150 with low mileage. Saved about $50K. Couldn’t be happier.
I refuse to pay $80K for a 1/2 ton pickup truck.
This post was edited on 5/9/23 at 7:00 am
Posted on 5/8/23 at 3:09 pm to Diamondawg
quote:
The gap is not as wide but there is still a gap. Otherwise, such car dealerships would have gone the way of the dodo bird.
I drove a full size SUV for three years, put 45k on it and sold it for 1k less than I paid for it about a year ago.
The old depreciation model is dead at least for the moment.
Posted on 5/8/23 at 3:11 pm to boogiewoogie1978
Crash is going to hit sooner or later, especially if the dealers are stuck with models the manufacturers force them to take which won’t sell.
The make and model I just bought was hybrid-only if you wanted anything above the lowest two levels of trim. Making people buy features they don’t want as part of the car is far from new but this is a new level of stupid considering people don’t want all electric or hybrids.
The make and model I just bought was hybrid-only if you wanted anything above the lowest two levels of trim. Making people buy features they don’t want as part of the car is far from new but this is a new level of stupid considering people don’t want all electric or hybrids.
Posted on 5/8/23 at 3:12 pm to tide06
According to market value, yes.
According to KBB, it is damn near worthless if some worthless motherfricker totals your car, as the payout isn’t necessarily going to be enough for a good downpayment on a replacement.
According to KBB, it is damn near worthless if some worthless motherfricker totals your car, as the payout isn’t necessarily going to be enough for a good downpayment on a replacement.
Posted on 5/8/23 at 3:16 pm to boogiewoogie1978
If they built stripper models like they used to, cars would be a lot more affordable.
Posted on 5/8/23 at 3:17 pm to boogiewoogie1978
quote:
Ramirez, 33, and his wife Angelica Castro-Calle really want a new, small SUV with a little space for camping and paddleboarding gear
Why new?
They could find a late model SUV that meets their criteria and budget.
I WANT MY NEW SUV! I'M TOO PROUD TO BUY USED!
Posted on 5/8/23 at 3:19 pm to jcaz
quote:
Nobody wants to build affordable cars for Americans.
High interest rates are the best thing that could have happened to the American car buyer. Why be responsible and stay within your means when you can get a car loan for 120 months so you can get a $100k pickup?
Posted on 5/8/23 at 3:20 pm to LSUAlum2001
Have you seen the prices on used cars in the past decade or so?
Used car prices have been generally fricked since Cash For Clunkers and especially so since Covid when everything not nailed down sold out.
Used car prices have been generally fricked since Cash For Clunkers and especially so since Covid when everything not nailed down sold out.
Posted on 5/8/23 at 3:22 pm to tide06
quote:Trade in or to an individual? That was likely due to inflation because the new one you replaced it with rose a commensurate amount over the time you had the SUV.
I drove a full size SUV for three years, put 45k on it and sold it for 1k less than I paid for it about a year ago.
Posted on 5/8/23 at 3:31 pm to teke184
quote:
Have you seen the prices on used cars in the past decade or so?
Yes.
Between my last post and now, I pulled up Autotrader in the immediate area and found plenty of options under $30K for vehicles 2 years old with low miles that meet their criteria.
Posted on 5/8/23 at 3:33 pm to boogiewoogie1978
"You will own nothing and love it."
When people tell you who they are and what they intend to do, you ought to listen to them and take notes.
When people tell you who they are and what they intend to do, you ought to listen to them and take notes.
Posted on 5/8/23 at 3:34 pm to boogiewoogie1978
On the bright side i traded my 2020 for 1.5k less than I paid 3 years ago.
On the down side i had to pay over MSRP but I wound up with a good service plan and extended warranty included.
On the down side i had to pay over MSRP but I wound up with a good service plan and extended warranty included.
Posted on 5/8/23 at 3:41 pm to JackieTreehorn
quote:
I sure see a lot of those wagoneers and grand wagoneers on the roads though. People are either shitting money or in debt up to their eyeballs.
ding!
Posted on 5/8/23 at 3:53 pm to boogiewoogie1978
Hasn't there always been a robust used car market that covered a full spectrum of needs and dreams?
Posted on 5/8/23 at 3:58 pm to boogiewoogie1978
The used. At market in 5 years should have some low mileage vehicles from the current market
Posted on 5/8/23 at 4:00 pm to Diamondawg
quote:in 2018 i bought a new truck cheaper than the identical used truck at carmax. Circumstances
Go to CarMax and buy a low mileage similar vehicle where someone else has paid the insane first year depreciation.
have changed since obviously
Posted on 5/8/23 at 4:01 pm to jcaz
quote:
When Jeep and Kia started considering themselves a luxury brand is when I realized this shift.
Was out of the market for a good while. Started looking around and was shocked that people were paying 50+ for the Kia SUV.
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