I am not alone

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As much as we complain, vehicles are getting better all the time. My Town Car was in nowhere near the shape of my G37 when it was as old, and the LTD before that, forget it, in a far lower league altogether than both of them.
 
We have a 2002 and a 2003. No plans for either to go anywhere for the next several years. The 2003 may get replaced due to rust issues by 2020 if no major mechanical problems show up. Will likely get replaced by something no newer than 2009.

Not having a car payment is nice.
 
Cars are not investments but they have become expensive compared to the average household income (rising car prices with stagnant wages). So people are locked in 7+ year loans and are usually underwater until the end of the loan term. That way it makes very little sense to sell the car near new and get another one. So you will see aging vehicles and leases.

Being built well helps.
 
My wife and I went looking at new explorers this week. We found a nice one we like a lot. Sticker price is $54k. Get outta here. No way I am paying that for a new car. These things have gotten ridiculous.
 
I'm worried now. I had to replace a brake light bulb for my 84 Civic. It's getting expensive to maintain. That cost 52 cents.

I'm looking for a new car that does not have the same features my Civic does not have. No luck.
 
Originally Posted By: E150GT
My wife and I went looking at new explorers this week. We found a nice one we like a lot. Sticker price is $54k. Get outta here. No way I am paying that for a new car. These things have gotten ridiculous.


Yes, they are ridiculous. When the Pacifica was unveiled at $30k people were shocked that a Chrysler could be that much. Now they buy $70k RAM-s without much complaint.
 
I agree with Alfred_B. You have to keep a car now. I just bought a new car and had the conversation with the sales manager who made the comment because I was trading a 2002 in that I buy a car and marry it to keep it that long.
I told him I used to trade every 3-4 years, but the times and climates changed. Cars cost more, the used car market is flooded. The longer I keep the car, the less the original price becomes per year of ownership. It's math but you have to change with the times.
Cars are not a investment but you can get the most out of the expense.
 
Originally Posted By: Alfred_B
Cars are not investments but they have become expensive compared to the average household income (rising car prices with stagnant wages). So people are locked in 7+ year loans and are usually underwater until the end of the loan term. That way it makes very little sense to sell the car near new and get another one. So you will see aging vehicles and leases.

Being built well helps.


Sorry, I was referring to cars that have appeal and appreciate in value (BMW e30 m3 etc.). Not your usual grocery getter/ daily drivers.
 
Originally Posted By: E150GT
My wife and I went looking at new explorers this week. We found a nice one we like a lot. Sticker price is $54k. Get outta here. No way I am paying that for a new car. These things have gotten ridiculous.
We did the same last week,,,sticker shock,,are they just crazy????
 
I'm going to drive our 04 Camry V6 until a sensor indicates something major like cats going bad or some problem with engine/transmission that I can't fix myself. At four thousand miles a year, the Camry may outlast me. Wife might have to decide on next car. I would probably lease one for three years.
 
In 1999 I was shopping for a new car. A new Dodge St Regis was nearly 10K. I couldn't believe it! I had bought a new 1971 Dodge Dart for under $3000. I n late 1980 I bought that same 99 Car for about $7000 delivered. I drove the Dart for 10 years and 127k and it was worn out. The 99 lasted 8 years and 117k and the body was shot. I now have a 1994 Dodge Grand Caravan I bought with 178k and now has 242k on it. Still runs fine, I'm storing it out back in case I need it someday. Newer cars clearly last way longer.
 
My 1999 Jeep has 170,000 miles and runs like new. I happen to be very happy with it and unless it has a catastrophic failure it's not going anywhere soon.
 
Let's see, $50k today was the same as:
$45k in 2010
$39k in 2005
$35k in 2000
$31k in 1995
$26k in 1990

https://fred.stlouisfed.org/series/MEHOINUSA672N


Now this link doesn't explicitly say that it is inflation-adjusted--but it sure looks to be. We can see it rise and fall, but IMO it shows to be somewhat more constant that what gets bandied about.

http://whnt.com/2016/04/25/the-average-c...-you-were-born/

Meanwhile, the above seems to indicate that the inflation adjusted value of new cars has stayed in a similar fashion flat.



Now I plan to hold onto my vehicles longer than ever, but by golly, it seems we are in a golden era.
 
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