Average new car price is $50K ? Insanity.

[JeffKeryk]

A Toyota exec feels average new cars prices could exceed $50,000 this year. How can anyone afford this?
The 1st new car I ever bought was my strippie 1993 Toyota 4wd PU for $14,000 all in. And that scared the heck outta me.

 

[demarpaint]

If people are willing to pay sticker and a "market adjustment price" on top of it, the automakers and dealers will keep prices high, or push them higher. That's how it works.

 

[SC Maintenance]

He must be factoring in the real inflation rate over the last few years the rest of the world is gaslighting us about.

I agree with you - thats insane. I don't need to drive around in $50K of my money. My last 3 cars were purchased new all well under $30K.

There are still many cars worth buying for around $30K, that will likely last a couple decades if taken car of, so long as your not trying to impress anyone.

 

[pbm]

Everything seems insane nowadays.

 

[Chris142]

I can't afford a new car. I'll be driving my jeep till I die or it gets wrecked.

 

[PF52]

A Toyota exec feels average new cars prices could exceed $50,000 this year. How can anyone afford this?

The article wasn't specific, but I am sure he's factoring in all those fancy expensive SUVs that have swayed the average away from the bread-and-butter sedans.

 

[wpod]

$900.00 per month for 14 years.

 

[2strokeNorthstar]

I like the $20k range. I have no interest in paying $50k for an average vehicle

 

[jeepman3071]

We will own nothing and be happy. Subscriptions for everything!!

 

[slo town]

$900.00 per month for 14 years.

Insanity.

The first house Sue and I bought, and a nice one too, had a 30 year fixed at $600 a month, $5K down.

Scott

 

[Zee09]

@AutoMechanic doesn't sweat those prices.

 

[JeffKeryk]

I want to help my grand nieces with college costs, should they choose to go. There are other real life costs that are far more important, to me at least.

 

[Dave Hess]

I want to help my grand nieces with college costs, should they choose to go. There are other real life costs that are far more important, to me at least.

I tell my grandkids take your pick: used Corolla, Civic or Mazda 3 for your college car.

 

[jeepman3071]

I'm not sure how someone can even afford these things. Most I know cannot. The inflation rates with these cars isn't awful if you compare them to prices of 20-30 years ago, but like everything else the issue is wages haven't kept up, and vehicles are quickly becoming throw away appliances like phones/computers instead of something you keep for years like a stove or riding lawn mower.

 

[wpod]

We will own nothing and be happy. Subscriptions for everything!!

I am glad some one is aware.

 

[JeffKeryk]

I'm not sure how someone can even afford these things. Most I know cannot. The inflation rates with these cars isn't awful if you compare them to prices of 20-30 years ago, but like everything else the issue is wages haven't kept up, and vehicles are quickly becoming throw away appliances like phones/computers instead of something you keep for years like a stove or riding lawn mower.

Exactly. Cars are depreciating assets; consumable assets. Finance teaches do not put money into depreciating assets; put money into appreciating assets.

 

[99Saturn]

A Toyota exec feels average new cars prices could exceed $50,000 this year. How can anyone afford this?
The 1st new car I ever bought was my strippie 1993 Toyota 4wd PU for $14,000 all in. And that scared the heck outta me.

Our Cruze was around $15.5K in 2013 all in. Obviously $50K is an average but it is crazy how the lower end of the price spectrum is disappearing/changing.

I am not looking forward to our next car purchase.

 

[Bjornviken]

welcome to the new normal

 

[vavavroom]

I see lots of new cars that cost less than 50k. I see also lots of new cars that cost more and way more than 50k.

https://www.kbb.com/car-news/average-new-car-price-tops-49500/

New pickup truck prices skyrocket, except for 10 "cheap" options

New pickup trucks, still difficult to purchase due to supply chain problems, are correspondingly becoming more expensive. The average price of a new

www.rvtravel.com

 

[JustinH]

My wife and I both work professional jobs in the public sector and we could not swing a $50k car. Not even close.