Grand Wagoneer rolled in....

[OVERKILL]

They look like very nice vehicles. But I've bought two move-in ready houses for $100k or less in my lifetime and that really puts the price of one into the realm of absurdity in my mind.

Depends on where you live I suppose. Average house price here now is just a hair under $700,000. My parents place (no mortgage) is worth at least $1.5 million, cottage is worth around the same. They have excellent retirement income and could easily afford a vehicle at this price. When they bought their Expedition in 2000, it was $68,000 IIRC, which, was expensive at the time. But they've driven it for 22 years.

Even back when I bought this house, it was $190,000, and that was the early 2000's. It's worth around $700K now. Life has gotten significantly more expensive, and housing is probably the most dramatically impacted in many areas. While vehicle prices have also gone up, the scale at which, isn't even remotely close to what has happened to real estate.

 

[Bird's_Garage]

Of course this is all speculation on your part-isn't t? Statistically-speaking-most who buy these vehicles are making well over $100,000.00 on average. Even Suburban buyers are upper income. These (type of) vehicle buyers are a minority on here-although there are some contributors who have done very well for themselves.

Completely anecdotal evidence on my part:

I know, off the top of my head 8 different families who own high end Yukons, Expeditions, Tahoes, Suburbans. 7 of those families are low-to-average household income families. Around here, they think Tahoes and Yukon Denalis are status symbols. You'll see them making $900 payments but living in a 30 year old single wide trailer.

That's purely anecdotal evidence on my part, though. I know there's always 2 ends of a spectrum and an average in the middle. As I've gotten older (still too young to say that with any seriousness) I've seen more and more people living way beyond their means and just barely getting by while keeping up with the Jonses.

 

[dishdude]

You just described my dad and my inheritance will suffer for it!

I hope my old man blows all his money and enjoys doing so. I don't want anything and will happily send the death certificate to all the creditors!

 

[The Critic]

Of course this is all speculation on your part-isn't t? Statistically-speaking-most who buy these vehicles are making well over $100,000.00 on average. Even Suburban buyers are upper income. These (type of) vehicle buyers are a minority on here-although there are some contributors who have done very well for themselves.

$100K? No, try $300k as a starting point.

 

[brianl703]

You just described my dad and my inheritance will suffer for it!

My dad was very good at saving money. Since 1984 he's had 3 vehicles, and I inherited two of them when he passed away last year. 1984 Chevy Cavalier, a 1986 (?) Ford Ranger (engine failed and went to the junkyard), and the 1998 Nissan Frontier that replaced the Ford Ranger.

He certainly had more than enough money to buy newer and nicer vehicles. He didn't.

 

[CKN]

$100K? No, try $300k as a starting point.

Yea-those actually making $300,00.00 WAGES on this forum is a pretty small club-although I know there are some on here who have done well for themselves.

 

[CKN]

My dad was very good at saving money. Since 1984 he's had 3 vehicles, and I inherited two of them when he passed away last year. 1984 Chevy Cavalier, a 1986 (?) Ford Ranger (engine failed and went to the junkyard), and the 1998 Nissan Frontier that replaced the Ford Ranger.

He certainly had more than enough money to buy newer and nicer vehicles. He didn't.

So his kids get to do that (spend his (cash) instead....yea OK. I'm trying to figure what piece of property to leave my kids-they are all free and clear.

With all due respect to your dad (RIP)-I don't understand this mentality.

 

[measureman]

Yes, all my opinion.

People who make 6 figures are often times just as fiscally irresponsible as poor people. Poor people sometimes spend lots of money on lotto tickets, booze, cigarettes, etc. and 6 figure folks buy boats, 6 figure cars, and a fancy house with nothing in the bank to show for it.

Poor people sometimes spend lots of money on lotto tickets, booze,cigarettes, etc.
I'm not poor and I buy all of the above.

 

[brianl703]

So his kids get to do that (spend his (cash) instead....yea OK. I'm trying to figure what piece of property to leave my kids-they are all free and clear.

With all due respect to your dad (RIP)-I don't understand this mentality.

I believe my dad wanted to leave something for his kids.

He also wasn't born into wealth--far from it--and I suspect that's why he just accumulated wealth without spending it unless he absolutely had to.

I'm probably the same way. I haven't spent a dime of what I got from my dad.

$100k vehicles do not impress or excite me.

 

[01rangerxl]

The original Grand Wagoneer was also a premium vehicle, but based on a 1960s platform with really outdated technology, so in a way the new ones loaded with features that were hard to even imagine in 1991 aren't that crazy. The Grand Wagoneer was definitely a rich person car in the 1980s and at least early 1990s, they were about as common as Range Rovers where I lived and found in the same places.

 

[Accent Abuser]

Roughly $100,000 for a FCA vehicle. No way!!! And it gets atrocious gas mileage.

It's basically a land yacht.

 

[Dinoburner]

Do Grand Wagoneer owners change their own oil, if not I can`t relate.

 

[IndyIan]

Roughly $100,000 for a FCA vehicle. No way!!! And it gets atrocious gas mileage.

In practical terms, its probably going to be more reliable than that type of vehicle from Europe... If you want something big that says "I'm doing well financially" a bit louder than a nice Yukon XL, or 4 of your friends already have a Yukon XL, maybe this is the ticket?
To me even a Yukon XL at $60k seems like it has almost no extra utility value than a $32k crew cab pickup unless you need to carry more than 5 people comfortably often...
But I'm not in the market for "I'm doing well financially" statement vehicles, maybe I'd change my opinion then?
If they've got it, they might as well spend it, on more depreciating trinkets! That's better for the rest of us, than everyone investing every extra penny in real estate, which has blown up the value of a home, a necessity for everyone, to ridiculous bubble values....

 

[measureman]

I appreciate the people that buy $60K and up vehicles.
If one pulls up next to me in my 2002 Blazer and there is a car jacker present I know I'm safe.