Average new car price is $50K ? Insanity.

[Zee09]

I like this post. No, I LOVE it!

Why we're constantly mocked for driving older cars, and for working on them ourselves, is beyond me. It is akin to joining a cooking forum and talking down to everyone who doesn't eat at restaurants three meals a day.

And many are mocked for buying plain and basic new vehicles that are clearly value-price oriented...Why???

Do what's best for you and that's all that should matter.

 

[wpod]

Not far from where I live, there are ENTIRE TOWNS where the average home price is barely $50k. This bubble is going to be worse than the housing bubble, and in some ways I think it’s being encouraged by certain groups of people on purpose. When people lose their modes of transportation due to repossession and have that huge remaining balance hanging over their heads, the only way they can get around is public transportation. And that means moving into the city. Which means you’re dependent on “public” services for your existence…

That is the long term plan.

 

[ARCOgraphite]

I'm a lot happier riding in a newer car than a beater. Just saying....

You can be, just keep the expense in line with income. My car is new, But it was less then 17K before trade due to no one buying the litttle Indian things and massive rebates and empty dealer showroom due to the epidemic.

 

[emmett442]

How many threads on here about the world is falling apart because of car payments? It works both ways....

Ah, no pride, self respect. "Monkey see, monkey do".

Go get 'em, tiger. Get on that bandwagon! Surely, they'll see it from your point of view. They'll simply go make or borrow more money, and "beaters" will be wiped from the face of this planet in no time!

Such brilliance! Hard to believe no one has thought about this before CKN on BITOG dropped the hammer and started a revolution in personal finance and transportation!

 

[ARCOgraphite]

EVs Are The Yugo Of The 21st Century​

I will defend the Yugo. They are Fiats. the are FUN to drive and very capable and stable at super legal interstate speeds. Fantastic, bullet proof engine designed by famed Ferrari engineer Aurelio Lampredi. They are light, unibody cars no worse than a Fiesta or Escort or Alliance or Rabbit. If you know the care and feeding of a Fiat you would be fine. Only Secondary rocker switch gear was a bit of a snap together -snap apart affair. Seats could be a bit better. No syncromesh 1st gear confused some inexperienced drivers.

Yugo didn't export the cars per-se M. Bricklen, Subaru importer pulled massive Gov't strings and imported them. Then he gave them an unfortunate name rather than the Native Zastava.

 

[SC Maintenance]

I'm not sure anyone actually PREFERS to drive "beaters". Most who do are simply doing their best with what they have.

I do. We have a 2019 that sits in the garage much of the time. I prefer my ancient Xterra. I am less likely to get cut off. I can park wherever and not think about door dings. If it gets scratched off roading I don't sweat it. Its sort of like old pair of jeans, its taken my kids to every school they have been in - from elementary to the college dorm. Its been on countless family vacations.

I grew up dirt poor so I don't part with my money easily now even though I have some. I have it now because I don't spend it on things to impress other people.

https://www.yahoo.com/now/not-livin...yotas, Hondas and Fords?,like the rest of us.

 

[emmett442]

I do. We have a 2019 that sits in the garage much of the time. I prefer my ancient Xterra. I am less likely to get cut off. I can park wherever and not think about door dings. If it gets scratched off roading I don't sweat it. Its sort of like old pair of jeans, its taken my kids to every school they have been in - from elementary to the college dorm. Its been on countless family vacations.

I grew up dirt poor so I don't part with my money easily now even though I have some. I have it now because I don't spend it on things to impress other people.

https://www.yahoo.com/now/not-livin...yotas, Hondas and Fords?,like the rest of us.

Either way, the essence of this site is inviting to the DIY'er. Most people with revolving car payments or newer vehicles aren't DIY'ers. With warranties, maintenance plans, and no concerns about the long term durability of their vehicle, they have little reason to be on a site like BITOG.

That said, there is clearly a more popular opinion here when it comes to "beater" vs "new", and that's pretty logical given the site we are on. I can't wrap my head around CKN's continuous surprise and lack of acceptance. I understand that not everyone can be the sharpest tool in the shed, but this seems like an extreme example.

 

[Blueshound]

Nothing new under the sun.

https://bobistheoilguy.com/forums/threads/i-need-a-new-car-because-blah-blah-blah-thread.338194/

https://bobistheoilguy.com/forums/threads/average-new-car-payment-554.310363/

https://bobistheoilguy.com/forums/threads/will-you-ever-buy-a-new-car-again.286842/

https://bobistheoilguy.com/forums/threads/considering-a-new-car.269917/

https://bobistheoilguy.com/forums/threads/new-vs-used-car.260920/

https://bobistheoilguy.com/forums/threads/new-car-vs-used-car.241579/

https://bobistheoilguy.com/forums/threads/dave-ramsey-on-new-car-purchases.228269/

https://bobistheoilguy.com/forums/threads/new-car-buyers-take-out-bigger-loans-set-record.192676/

 

[pbm]

What baffles me is all the young people I see at the gym who are driving Beemers....on top of that...many have thousands in 'body art' (tattoos). IDK how they afford rent on top of that.

 

[Kurtatron]

What baffles me is all the young people I see at the gym who are driving Beemers....on top of that...many have thousands in 'body art' (tattoos). IDK how they afford rent on top of that.

Depends on your area. If you live in a young professionals area, like Austin, they are probably young tech workers.

 

[gman2304]

My last new vehicle was a 1995 Nissan 4x4 XE 2.4 5 speed manual pick up truck. Sticker was $19,000 and I traded my 1988 Nissan 300 ZX in on it, financed it for 5 years and had a payment of $160.00 a month. I paid it off in 3 years and owned it for 19 years. I sold it in 2014 for $6,000 and bought my current DD a 2005 Chevy Avalanche for $7,000. So far in over 9 years and about 80,000 miles I’ve spent less than $2,000 in repairs. I replaced the rear main seal, 2 u joints, instrument panel cluster rebuild, fuel pump, evap charcoal canister, and that’s about it. In 28 years I’ve had 2 daily drivers. I dropped by a friends house yesterday and noticed a new 2023 GMC Yukon in the driveway. He bought it about 2 weeks ago and it’s really nice! When I left after a short visit he was attempting to pair up his cell phone with the new Yukon. When all is said and done….. it’s his money!

 

[CKN]

You can be, just keep the expense in line with income. My car is new, But it was less then 17K before trade due to no one buying the litttle Indian things and massive rebates and empty dealer showroom due to the epidemic.

This scenario about flipping your existing vehicle for a new one is hard for some to understand on here.

 

[CKN]

Nothing new under the sun.

https://bobistheoilguy.com/forums/threads/i-need-a-new-car-because-blah-blah-blah-thread.338194/

https://bobistheoilguy.com/forums/threads/average-new-car-payment-554.310363/

https://bobistheoilguy.com/forums/threads/will-you-ever-buy-a-new-car-again.286842/

https://bobistheoilguy.com/forums/threads/considering-a-new-car.269917/

https://bobistheoilguy.com/forums/threads/new-vs-used-car.260920/

https://bobistheoilguy.com/forums/threads/new-car-vs-used-car.241579/

https://bobistheoilguy.com/forums/threads/dave-ramsey-on-new-car-purchases.228269/

https://bobistheoilguy.com/forums/threads/new-car-buyers-take-out-bigger-loans-set-record.192676/

I wouldn't have retired at 55 years of age if I listened to Dave Ramsey.

 

[Blueshound]

I wouldn't have retired at 55 years of age if I listened to Dave Ramsey.

Ramsey's helpful up to a point. Many learn nothing about debt management growing up. But he's only got about 30 minutes worth of real content, the rest is fluff.

Happy for you, retiring so early

 

[ZZman]

I thought 30,000 was bad. We can thank SUV and Truck buyers

 

[JeffKeryk]

Depends on your area. If you live in a young professionals area, like Austin, they are probably young tech workers.

Or mommy and daddy bought them...

 

[Leo99]

we collectively bemoan the high cost of cars, yet in other threads some of us are roundly criticized as dinosaurs for not wanting fluffed-up cars with: electronic nannies, radar, start-stop, panoramic sunroof, 10 speaker premium stereos, heated steering wheels, “gotta haves,” etc., and wanting a simple ice engine instead of expensive lithium battery power that is strip-mined by child laborers in poor countries.

I think there is quite a bit of sour grapes in there. Instead of people saying they are happy with their older paid for vehicles and they can't afford a new one or don't want to spend the money on a new one, they denigrate the new vehicles' features. I could see not wanting the start/stop but premium stereos and a heated steering wheels are great. I wish my car had a heated steering wheel and better stereo. The electronic nannies are not that big of a deal. Most of them in my RAV4 can be turned off easily.

The gentleman from Georgia is correct and I think we are in the middle of a huge evolution in vehicles. My wife and I are retiring, God willing, in two years. I guess we'll keep both cars but I don't if that will make sense. It's pretty rare that we're both going out separate places now except to work. I'd buy a new car today but there's nothing revolutionary out. And I think some cool new cars will be coming out in the next few years and that's what I'm waiting on.

 

[JeffKeryk]

I wouldn't have retired at 55 years of age if I listened to Dave Ramsey.

Yep. Ramsey is for people who are already in trouble. The trick is to put your money into appreciating assets instead of depreciating assets.
Short term thinking vs long term thinking. Invest in yourself first, not the flashy car company.

 

[Kurtatron]

I think there is quite a bit of sour grapes in there. Instead of people saying they are happy with their older paid for vehicles and they can't afford a new one or don't want to spend the money on a new one, they denigrate the new vehicles' features. I could see not wanting the start/stop but premium stereos and a heated steering wheels are great. I wish my car had a heated steering wheel and better stereo. The electronic nannies are not that big of a deal. Most of them in my RAV4 can be turned off easily.

The gentleman from Georgia is correct and I think we are in the middle of a huge evolution in vehicles. My wife and I are retiring, God willing, in two years. I guess we'll keep both cars but I don't if that will make sense. It's pretty rare that we're both going out separate places now except to work. I'd buy a new car today but there's nothing revolutionary out. And I think some cool new cars will be coming out in the next few years and that's what I'm waiting on.

Yes, and I’d wager the manual transmission vehicle appeals to more frugal types, so even though tons of people protest the decline of the manual transmission, the same people would not actually buy a brand new manual transmission. I won’t buy one not because of features but because I don’t have the financial means to do so.

 

[Leo99]

I do. We have a 2019 that sits in the garage much of the time. I prefer my ancient Xterra. I am less likely to get cut off. I can park wherever and not think about door dings. If it gets scratched off roading I don't sweat it. Its sort of like old pair of jeans, its taken my kids to every school they have been in - from elementary to the college dorm. Its been on countless family vacations.

I grew up dirt poor so I don't part with my money easily now even though I have some. I have it now because I don't spend it on things to impress other people.

https://www.yahoo.com/now/not-livin...yotas, Hondas and Fords?,like the rest of us.

Not everyone that buys a new car does it to impress others. Some like new stuff. I hear about you driving without fear in an old beater. Less to worry about.

On the other side of the coin is that there are no pockets in coffins. When you get in a save your mentality, it's hard to spend it. There's a happy middle point but it's hard to find.