Basic transportation. Heck, it doesn't even have a dang roof... Sheesh.
Truth is, no one needs a stupid $$ pit like this. Just sayin...
Truth is, no one needs a stupid $$ pit like this. Just sayin...
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Are New Vehicles Too Expensive?
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Originally Posted by Skippy722
I'm totally with you. I want my car to have a bit of soul to it. Nobody ever got out of a Camry or Maxima and had someone else say "wow cool car!"
I don't need a Chrysler 300 with 300hp, a big 8.4" touch screen, heated seats, tinted windows, and a 500+ watt stereo to drive to and from work. I *want* that. Could have bought some soul crushingly boring appliance like Toyota or Nissan. Yeah, they're arguably more reliable, but I don't care. I *love* my 300, and even my Caliber (seriously, my stripped 2012 Caliber sxt is better imo than that 2018 Altima SV).
While I don't buy a vehicle for compliments, I have had many on my new truck. Many like the deep blue color.
I'm totally with you. I want my car to have a bit of soul to it. Nobody ever got out of a Camry or Maxima and had someone else say "wow cool car!"
I don't need a Chrysler 300 with 300hp, a big 8.4" touch screen, heated seats, tinted windows, and a 500+ watt stereo to drive to and from work. I *want* that. Could have bought some soul crushingly boring appliance like Toyota or Nissan. Yeah, they're arguably more reliable, but I don't care. I *love* my 300, and even my Caliber (seriously, my stripped 2012 Caliber sxt is better imo than that 2018 Altima SV).
While I don't buy a vehicle for compliments, I have had many on my new truck. Many like the deep blue color.
I didn't either, but a lot of people do compliment us on the 300, never really got that in the Durango. It's... odd lol, or I'm just socially awkward.
If it's the deep blue color that I'm thinking of, great color choice! I usually don't like blue, but the deep blue metallics I've been seeing around lately really catch my eye. Our 300 is white with black trim and the darker gunmetal painted wheels.
If it's the deep blue color that I'm thinking of, great color choice! I usually don't like blue, but the deep blue metallics I've been seeing around lately really catch my eye. Our 300 is white with black trim and the darker gunmetal painted wheels.
Originally Posted by slacktide_bitog
Originally Posted by Cujet
I truly can't believe the price of F150's now. It's nearly double in 10 years.
This.
You know incomes haven't doubled in the past 10 years!
Hahahaha, yeah, In the last 10 years, my income has remained exactly the same. I have 3 F150's. 2 for work and a 2009 Lariat SuperCrew 4x4 that is mine. I don't think I'll be replacing it anytime soon. I paid 33K for it using the Ford X-Plan. A new Lariat with similar equipment varies between $62,000 and $71,000. An X-Plan knocks a little off the price, but not enough to make it worth the money.
Originally Posted by Cujet
I truly can't believe the price of F150's now. It's nearly double in 10 years.
This.
You know incomes haven't doubled in the past 10 years!
Hahahaha, yeah, In the last 10 years, my income has remained exactly the same. I have 3 F150's. 2 for work and a 2009 Lariat SuperCrew 4x4 that is mine. I don't think I'll be replacing it anytime soon. I paid 33K for it using the Ford X-Plan. A new Lariat with similar equipment varies between $62,000 and $71,000. An X-Plan knocks a little off the price, but not enough to make it worth the money.
My income went up but seems to have disappeared into the hubris of life (kids, mortgage, health insurance).
I still think it's a crime what has happened with real estate, but that's a whole different thread. But to make a comparison, houses and vehicles seem to have doubled in price over the last 20 years (if not more).
At least our vehicles last vastly longer. Growing up in the early 90's I recall 100k still being a "big" number.
I still think it's a crime what has happened with real estate, but that's a whole different thread. But to make a comparison, houses and vehicles seem to have doubled in price over the last 20 years (if not more).
At least our vehicles last vastly longer. Growing up in the early 90's I recall 100k still being a "big" number.
Originally Posted by Cujet
I truly can't believe the price of F150's now. It's nearly double in 10 years.
I ordered a brand new 2002 F-150 XL Super Cab 4X4 with a 8' bed in Sept of 2001. It was a basic truck. The only extra options ordered were captains chairs & front console, carpeting and the manual rear sliding window. It came standard with the 4.6 V-8 and 5 speed manual transmission. It was perfect for me, comfortable yet simple. It was not lacking for creature comforts. The list price was around $25,000. The other day I was looking at "basic" F-150's and the stickers were in the $45,000++++ range
. Unfortunately my 2002 succumbed to total rot and became unsafe to drive and too costly to repair. I see newer F-150's with severe rot that are not that old. You pay a fortune for a vehicle and it starts rotting in less than 7 years, that's a crime!
Whimsey
I truly can't believe the price of F150's now. It's nearly double in 10 years.
I ordered a brand new 2002 F-150 XL Super Cab 4X4 with a 8' bed in Sept of 2001. It was a basic truck. The only extra options ordered were captains chairs & front console, carpeting and the manual rear sliding window. It came standard with the 4.6 V-8 and 5 speed manual transmission. It was perfect for me, comfortable yet simple. It was not lacking for creature comforts. The list price was around $25,000. The other day I was looking at "basic" F-150's and the stickers were in the $45,000++++ range
Whimsey
I would say they are too expensive. Something like well equipped Cadillac Deville in 1970 retailed for roughly $6000. Adjusted for inflation, a similar auto should not sticker for more than $39K. A similar product today would probably be the Cadillac XTS. Bottom end MSRP on that one according to the Cadillac website is $47K.
Given that electronics are a mere fraction is cost compared to even the 1980's, one cannot argue that electronics inflate the price.
I am in a wonderful position. I believe the price of cars and trucks is greatly inflated, but I get thru it well because no OEM is making anything that really appeals to me. Not a single vehicle being made today really does it for me. American or foreign. Car or truck. Cannot even see buying a new vehicle ever again. My last vehicle buy was for a used one and probably will be that way from now on.
Given that electronics are a mere fraction is cost compared to even the 1980's, one cannot argue that electronics inflate the price.
I am in a wonderful position. I believe the price of cars and trucks is greatly inflated, but I get thru it well because no OEM is making anything that really appeals to me. Not a single vehicle being made today really does it for me. American or foreign. Car or truck. Cannot even see buying a new vehicle ever again. My last vehicle buy was for a used one and probably will be that way from now on.
Originally Posted by Whimsey
Originally Posted by Cujet
I truly can't believe the price of F150's now. It's nearly double in 10 years.
I ordered a brand new 2002 F-150 XL Super Cab 4X4 with a 8' bed in Sept of 2001. It was a basic truck. The only extra options ordered were captains chairs & front console, carpeting and the manual rear sliding window. It came standard with the 4.6 V-8 and 5 speed manual transmission. It was perfect for me, comfortable yet simple. It was not lacking for creature comforts. The list price was around $25,000. The other day I was looking at "basic" F-150's and the stickers were in the $45,000++++ range
. Unfortunately my 2002 succumbed to total rot and became unsafe to drive and too costly to repair. I see newer F-150's with severe rot that are not that old. You pay a fortune for a vehicle and it starts rotting in less than 7 years, that's a crime!
Whimsey
Yep-and used to get a steak at Sizzler for $4.00. Everything has gone up.
Originally Posted by Cujet
I truly can't believe the price of F150's now. It's nearly double in 10 years.
I ordered a brand new 2002 F-150 XL Super Cab 4X4 with a 8' bed in Sept of 2001. It was a basic truck. The only extra options ordered were captains chairs & front console, carpeting and the manual rear sliding window. It came standard with the 4.6 V-8 and 5 speed manual transmission. It was perfect for me, comfortable yet simple. It was not lacking for creature comforts. The list price was around $25,000. The other day I was looking at "basic" F-150's and the stickers were in the $45,000++++ range
Whimsey
Yep-and used to get a steak at Sizzler for $4.00. Everything has gone up.
Originally Posted by 02SE
Don't forget the engine, transmission, frame, axles, exhaust brake, brakes, etc. that make up a pickup capable of towing in excess of 30k lbs. I had a Dually in the mid 90's, it had the highest tow rating then available in a pickup, 12,800 lbs.
This is another good point that gets overlooked. The newer trucks are much more powerful, and can tow far more weight. And they are much nicer both inside and out. Manufacturers make what customers want. Be it guns, trucks, or electronics. You will never stop technology, or it's applications. So as time marches on, you will see more of it in new vehicles.
And if you want to buy a stripped down truck with just the bare necessities for a much lower cost, purchase a contractors model. Most every dealer has a few on the lot. They have the same engines and transmissions without all the fluff. No power everything. No fancy interior, no "deluxe this or that". Most come with steel wheels and crank down windows, and painted bumpers. But you're still getting a brand new vehicle with a full warranty for a much lower cost. Right from the same place that sells $65K Platinum Edition F-150's. Best of both worlds within 100 feet of each other. Compare that to what was available on the lot 50 years ago, and you'll come back running.
Don't forget the engine, transmission, frame, axles, exhaust brake, brakes, etc. that make up a pickup capable of towing in excess of 30k lbs. I had a Dually in the mid 90's, it had the highest tow rating then available in a pickup, 12,800 lbs.
This is another good point that gets overlooked. The newer trucks are much more powerful, and can tow far more weight. And they are much nicer both inside and out. Manufacturers make what customers want. Be it guns, trucks, or electronics. You will never stop technology, or it's applications. So as time marches on, you will see more of it in new vehicles.
And if you want to buy a stripped down truck with just the bare necessities for a much lower cost, purchase a contractors model. Most every dealer has a few on the lot. They have the same engines and transmissions without all the fluff. No power everything. No fancy interior, no "deluxe this or that". Most come with steel wheels and crank down windows, and painted bumpers. But you're still getting a brand new vehicle with a full warranty for a much lower cost. Right from the same place that sells $65K Platinum Edition F-150's. Best of both worlds within 100 feet of each other. Compare that to what was available on the lot 50 years ago, and you'll come back running.
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
Originally Posted by billt460
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I'm curious how many of the buyers of these $80,000+ trucks are being bought without financing and going into debt (which is also part of a free market)?
And out of the ones who finance, how many of them have had their incomes increase as fast as these trucks have increased in price over the last ten years?
I'm also curious how many of these trucks you think are going to get repo'd?
A few years ago when oil was booming, a lot of oil workers around here were buying Raptors. 22 year old kids zipping around town in $60,000 trucks. You could go to a Wal Mart and count two or three dozen of them in the parking lot. Fast forward just a few years when oil busted, and the repo companies were running 2 shifts 24 hours a day. Banks were in a whirlwind trying to get things in order, and a lot of folks from out of state were able to get some second hand, fancy trucks at quite a bargain. That's also part of the free market!
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I'm curious how many of the buyers of these $80,000+ trucks are being bought without financing and going into debt (which is also part of a free market)?
And out of the ones who finance, how many of them have had their incomes increase as fast as these trucks have increased in price over the last ten years?
I'm also curious how many of these trucks you think are going to get repo'd?
A few years ago when oil was booming, a lot of oil workers around here were buying Raptors. 22 year old kids zipping around town in $60,000 trucks. You could go to a Wal Mart and count two or three dozen of them in the parking lot. Fast forward just a few years when oil busted, and the repo companies were running 2 shifts 24 hours a day. Banks were in a whirlwind trying to get things in order, and a lot of folks from out of state were able to get some second hand, fancy trucks at quite a bargain. That's also part of the free market!
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Originally Posted by kawie_guy
Originally Posted by billt460
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I'm curious how many of the buyers of these $80,000+ trucks are being bought without financing and going into debt (which is also part of a free market)?
And out of the ones who finance, how many of them have had their incomes increase as fast as these trucks have increased in price over the last ten years?
I'm also curious how many of these trucks you think are going to get repo'd?
A few years ago when oil was booming, a lot of oil workers around here were buying Raptors. 22 year old kids zipping around town in $60,000 trucks. You could go to a Wal Mart and count two or three dozen of them in the parking lot. Fast forward just a few years when oil busted, and the repo companies were running 2 shifts 24 hours a day. Banks were in a whirlwind trying to get things in order, and a lot of folks from out of state were able to get some second hand, fancy trucks at quite a bargain. That's also part of the free market!
Lots of people make poor financial choices. That doesn't mean that everyone does.
Originally Posted by billt460
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I'm curious how many of the buyers of these $80,000+ trucks are being bought without financing and going into debt (which is also part of a free market)?
And out of the ones who finance, how many of them have had their incomes increase as fast as these trucks have increased in price over the last ten years?
I'm also curious how many of these trucks you think are going to get repo'd?
A few years ago when oil was booming, a lot of oil workers around here were buying Raptors. 22 year old kids zipping around town in $60,000 trucks. You could go to a Wal Mart and count two or three dozen of them in the parking lot. Fast forward just a few years when oil busted, and the repo companies were running 2 shifts 24 hours a day. Banks were in a whirlwind trying to get things in order, and a lot of folks from out of state were able to get some second hand, fancy trucks at quite a bargain. That's also part of the free market!
Lots of people make poor financial choices. That doesn't mean that everyone does.
Originally Posted by 02SE
Originally Posted by kawie_guy
Originally Posted by billt460
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I'm curious how many of the buyers of these $80,000+ trucks are being bought without financing and going into debt (which is also part of a free market)?
And out of the ones who finance, how many of them have had their incomes increase as fast as these trucks have increased in price over the last ten years?
I'm also curious how many of these trucks you think are going to get repo'd?
A few years ago when oil was booming, a lot of oil workers around here were buying Raptors. 22 year old kids zipping around town in $60,000 trucks. You could go to a Wal Mart and count two or three dozen of them in the parking lot. Fast forward just a few years when oil busted, and the repo companies were running 2 shifts 24 hours a day. Banks were in a whirlwind trying to get things in order, and a lot of folks from out of state were able to get some second hand, fancy trucks at quite a bargain. That's also part of the free market!
Lots of people make poor financial choices. That doesn't mean that everyone does.
True. But the ones who do affect the rest of us in loan rates, insurance, gas prices, etc etc. We live in a society.
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
Originally Posted by kawie_guy
Originally Posted by billt460
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I'm curious how many of the buyers of these $80,000+ trucks are being bought without financing and going into debt (which is also part of a free market)?
And out of the ones who finance, how many of them have had their incomes increase as fast as these trucks have increased in price over the last ten years?
I'm also curious how many of these trucks you think are going to get repo'd?
A few years ago when oil was booming, a lot of oil workers around here were buying Raptors. 22 year old kids zipping around town in $60,000 trucks. You could go to a Wal Mart and count two or three dozen of them in the parking lot. Fast forward just a few years when oil busted, and the repo companies were running 2 shifts 24 hours a day. Banks were in a whirlwind trying to get things in order, and a lot of folks from out of state were able to get some second hand, fancy trucks at quite a bargain. That's also part of the free market!
Lots of people make poor financial choices. That doesn't mean that everyone does.
True. But the ones who do affect the rest of us in loan rates, insurance, gas prices, etc etc. We live in a society.
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
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Originally Posted by billt460
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I promise that "need" plays a role too. People will willingly pay anything for what they need.
A family of 6 won't be forced into a Yaris willingly, regardless of whether or not the Yaris is the only thing they can actually afford.
Originally Posted by javacontour
They are too expensive when people stop buying them.
This ^^^^^^^^^^
Price determines sales regardless of what's being sold. Something is only worth what someone else is willing to pay you for it, and not a penny more. No matter if it's new cars, real estate, an oil change, or anything else. When people can no longer afford it, or want it due to it's price, then that price will adjust accordingly. Or else the seller will go out of business. It's called the free market.
I promise that "need" plays a role too. People will willingly pay anything for what they need.
A family of 6 won't be forced into a Yaris willingly, regardless of whether or not the Yaris is the only thing they can actually afford.
Originally Posted by kawie_guy
True. But the ones who do affect the rest of us in loan rates, insurance, gas prices, etc etc. We live in a society.
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
That's one of the potential downsides to living in a still somewhat Free Society.
True. But the ones who do affect the rest of us in loan rates, insurance, gas prices, etc etc. We live in a society.
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
That's one of the potential downsides to living in a still somewhat Free Society.
They have gotten more expensive, but in my case I've paid my house off, retirement is more or less secure, and I can afford to have some fun now. Even still, my 2018 Mustang GT Premium was 38K OTD, just above the average. I'm thinking if someone just needs family transportation a Malibu LS should work and it's around 20K for a new one if they're on a budget.
Originally Posted by kawie_guy
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
One has nothing to do with the other. Prices increase on some goods, while they drop on others. If someone is foolish enough to borrow money and pay interest on that money, in order to purchase an expensive depreciating asset they don't need, they are making a poor financial choice. You can either afford something, or you can't. If you can't afford to live in an expensive, affluent neighborhood, you buy something cheaper in a less affluent one. The same holds true with vehicles. If a plumber can't afford a Ferrari F-40, it's not because the Ferrari is too expensive. It's because he doesn't have or earn enough money to buy it.
If someone can write a check for an expensive car or truck, and not have it jeopardize or effect their lifestyle in any way, shape, or form, then it doesn't matter. Whatever they choose to buy is not "too expensive". Simply because they can afford it. Something does not become too expensive just because someone makes a poor decision in buying it. You have people buying $60K trucks, who in reality should be buying $30K trucks.
Just as you have people buying $400K homes, who should be living in $200K homes. When these people go into foreclosure, and are forced to move into an apartment, or else see the tow truck pull up and hook on to their over financed beauty they can no longer make the payments on, that's not because their house or truck was, "too expensive". It's because they couldn't afford to buy it in the first place. Just because someone is willing to loan you money, does not mean you have to take it. Borrowed money creates far more problems than it solves.
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
One has nothing to do with the other. Prices increase on some goods, while they drop on others. If someone is foolish enough to borrow money and pay interest on that money, in order to purchase an expensive depreciating asset they don't need, they are making a poor financial choice. You can either afford something, or you can't. If you can't afford to live in an expensive, affluent neighborhood, you buy something cheaper in a less affluent one. The same holds true with vehicles. If a plumber can't afford a Ferrari F-40, it's not because the Ferrari is too expensive. It's because he doesn't have or earn enough money to buy it.
If someone can write a check for an expensive car or truck, and not have it jeopardize or effect their lifestyle in any way, shape, or form, then it doesn't matter. Whatever they choose to buy is not "too expensive". Simply because they can afford it. Something does not become too expensive just because someone makes a poor decision in buying it. You have people buying $60K trucks, who in reality should be buying $30K trucks.
Just as you have people buying $400K homes, who should be living in $200K homes. When these people go into foreclosure, and are forced to move into an apartment, or else see the tow truck pull up and hook on to their over financed beauty they can no longer make the payments on, that's not because their house or truck was, "too expensive". It's because they couldn't afford to buy it in the first place. Just because someone is willing to loan you money, does not mean you have to take it. Borrowed money creates far more problems than it solves.
Originally Posted by Silverado12
They have gotten more expensive, but in my case I've paid my house off, retirement is more or less secure, and I can afford to have some fun now. Even still, my 2018 Mustang GT Premium was 38K OTD, just above the average. I'm thinking if someone just needs family transportation a Malibu LS should work and it's around 20K for a new one if they're on a budget.
Exactly. The problem is they don't want the Malibu. They want your $38K Mustang GT. Their "want" overrules what they can afford.
They have gotten more expensive, but in my case I've paid my house off, retirement is more or less secure, and I can afford to have some fun now. Even still, my 2018 Mustang GT Premium was 38K OTD, just above the average. I'm thinking if someone just needs family transportation a Malibu LS should work and it's around 20K for a new one if they're on a budget.
Exactly. The problem is they don't want the Malibu. They want your $38K Mustang GT. Their "want" overrules what they can afford.
New vehicles are too expensive, which is why I keep my 2007 I purchased new. Sticker was 37181, if I wanted the same truck today its 45K. I don't pay sticker, but just an example. 37k sticker was too much, and I'm speaking of a 2007 tundra crewmax trd.
I would like a new one, but the cost is ridiculous.
I would like a new one, but the cost is ridiculous.
Originally Posted by billt460
Originally Posted by kawie_guy
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
One has nothing to do with the other. Prices increase on some goods, while they drop on others. If someone is foolish enough to borrow money and pay interest on that money, in order to purchase an expensive depreciating asset they don't need, they are making a poor financial choice. You can either afford something, or you can't. If you can't afford to live in an expensive, affluent neighborhood, you buy something cheaper in a less affluent one. The same holds true with vehicles. If a plumber can't afford a Ferrari F-40, it's not because the Ferrari is too expensive. It's because he doesn't have or earn enough money to buy it.
If someone can write a check for an expensive car or truck, and not have it jeopardize or effect their lifestyle in any way, shape, or form, then it doesn't matter. Whatever they choose to buy is not "too expensive". Simply because they can afford it. Something does not become too expensive just because someone makes a poor decision in buying it. You have people buying $60K trucks, who in reality should be buying $30K trucks.
Just as you have people buying $400K homes, who should be living in $200K homes. When these people go into foreclosure, and are forced to move into an apartment, or else see the tow truck pull up and hook on to their over financed beauty they can no longer make the payments on, that's not because their house or truck was, "too expensive". It's because they couldn't afford to buy it in the first place. Just because someone is willing to loan you money, does not mean you have to take it. Borrowed money creates far more problems than it solves.
I agree with everything you said except the first two sentences.
It's easy to see what's gone up, but much tougher to name things that have gone down. Wages have basically stayed the same for the last five years, but healthcare, tuition, taxes, groceries, utilities, vacations, rent, homes, and car prices have steadily increased. Fuel is cheaper now than it was 4 years ago, but with everybody driving SUVs and trucks these days, how long will that last?
America runs on it's middle class, and when the buying power of the middle class is reduced, we have problems.
Originally Posted by kawie_guy
Look, the question is have vehicles gotten too expensive. The bottom line is this: I would say that they have if the price has nearly doubled, and the average working class person's income has stayed the same.
One has nothing to do with the other. Prices increase on some goods, while they drop on others. If someone is foolish enough to borrow money and pay interest on that money, in order to purchase an expensive depreciating asset they don't need, they are making a poor financial choice. You can either afford something, or you can't. If you can't afford to live in an expensive, affluent neighborhood, you buy something cheaper in a less affluent one. The same holds true with vehicles. If a plumber can't afford a Ferrari F-40, it's not because the Ferrari is too expensive. It's because he doesn't have or earn enough money to buy it.
If someone can write a check for an expensive car or truck, and not have it jeopardize or effect their lifestyle in any way, shape, or form, then it doesn't matter. Whatever they choose to buy is not "too expensive". Simply because they can afford it. Something does not become too expensive just because someone makes a poor decision in buying it. You have people buying $60K trucks, who in reality should be buying $30K trucks.
Just as you have people buying $400K homes, who should be living in $200K homes. When these people go into foreclosure, and are forced to move into an apartment, or else see the tow truck pull up and hook on to their over financed beauty they can no longer make the payments on, that's not because their house or truck was, "too expensive". It's because they couldn't afford to buy it in the first place. Just because someone is willing to loan you money, does not mean you have to take it. Borrowed money creates far more problems than it solves.
I agree with everything you said except the first two sentences.
It's easy to see what's gone up, but much tougher to name things that have gone down. Wages have basically stayed the same for the last five years, but healthcare, tuition, taxes, groceries, utilities, vacations, rent, homes, and car prices have steadily increased. Fuel is cheaper now than it was 4 years ago, but with everybody driving SUVs and trucks these days, how long will that last?
America runs on it's middle class, and when the buying power of the middle class is reduced, we have problems.
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