Your time is worth something, and to some it’s worth more than the depreciation and interest. I know mine is.Life is even shorter when you watch your money constantly evaporate in interest payments and depreciation.
Your time is worth something, and to some it’s worth more than the depreciation and interest. I know mine is.Life is even shorter when you watch your money constantly evaporate in interest payments and depreciation.
True-but if you have enough of it (money) that doesn't matter.Life is even shorter when you watch your money constantly evaporate in interest payments and depreciation.
I think your definition of "can afford" and mine are different. How many people today buying new can do so without financing for 7 or 8 years, or going upside down on a trade-in? I bet a lot of them do...Lots of people can afford newer cars and don’t want to depend on a 15+ year old vehicle with unknown history. $500-800/month for peace of mind, safety features, power, efficiency, creature comforts and resale value isn’t that big of a deal to many or we wouldn’t see the current prices being paid.
I am not sure new and used car prices have gone up, or the purchasing power of the USD has gone down. If one has to trade a used car for a fixed asset, like a single-family home, there may be no substantial change in the exchange rate.i had the same thought process when i was looking back in 18. i thought for sure that was the ceiling. and then 2020 happened, i do think we have hit the ceiling this time, because I'm actually seeing new pickups come down (rebates). if you can hold out to 24 if youre looking now, i think you will at least have better chance at making a descent deal than you do now. inventory is starting to come up, but it isn't high enough yet for them to consider price reductions. i expect inventory to stay relatively flat from now till the end of the year, and it to peak sometime in q2 of 24. rebates will become more prevalent especially if you can find a leftover 23.
Since my 2020 Ford F 150 I purchased 10 months ago is still worth what I paid-I have to assume at least truck prices are not going down. A new truck is $20,000.00 more than what I paid for a used one with only 26,000 miles on it. I think we could see reductions in truck prices-specifically, but they have gone up $15,000.00 in the last three years. SO a discount of $5,000.00 off MSRP is not going to move the needle much.i had the same thought process when i was looking back in 18. i thought for sure that was the ceiling. and then 2020 happened, i do think we have hit the ceiling this time, because I'm actually seeing new pickups come down (rebates). if you can hold out to 24 if youre looking now, i think you will at least have better chance at making a descent deal than you do now. inventory is starting to come up, but it isn't high enough yet for them to consider price reductions. i expect inventory to stay relatively flat from now till the end of the year, and it to peak sometime in q2 of 24. rebates will become more prevalent especially if you can find a leftover 23.
5,000 of of a 15k markup is a thirty percent reduction. I think that is a large needle move. the graph is just started to turn, we may not get back to pre 2020 levels but it will at least be palatable.Since my 2020 Ford F 150 I purchased 10 months ago is still worth what I paid-I have to assume at least truck prices are not going down. A new truck is $20,000.00 more than what I paid for a used one with only 26,000 miles on it. I think we could see reductions in truck prices-specifically, but they have gone up $15,000.00 in the last three years. SO a discount of $5,000.00 off MSRP is not going to move the needle much.
Hm...that's still 10 grand more than a comparable pickup of just three years ago. So-in my case-assuming a $70,000 MSRP-that would bring it down to $65,000.005,000 of of a 15k markup is a thirty percent reduction. I think that is a large needle move. the graph is just started to turn, we may not get back to pre 2020 levels but it will at least be palatable.
thank you for rewording my exact statement. really adds to the discussion.Hm...that's still 10 grand more than a comparable pickup of just three years ago. So-in my case-assuming a $70,000 MSRP-that would bring it down to $65,000.00
The same truck three years ago was $55,000.00
Agreed...I don't need no expensive car taking up space in my $7.25 million estate garage.I know some very wealthy folks and they drive cars under $40K.
Not everyone wants a flashy expensive car.
Neighbors fall into category, the wealthier they are the more normal cars they seem to drive.I know some very wealthy folks and they drive cars under $40K.
Not everyone wants a flashy expensive car.
Not having hot water spells something else. You are describing a disorder- but I'm not a professional in that field.JMHOi have a neighbor who's plenty wealthy (he had some porches and sold them so he could buy an airplane, he has at least 2 rental houses) this same guy's nicest car is a 2015 ish Kia Sorento, and his sports car is a 84 300zx that he found in a frinds garage and pays a dumb kid to maintain. he didn't want to pay a plumber so he just lived without hot water for 3 years. he had a jeep Cherokee, but didn't want to buy coolant so it just ran with hose water for at least 10 years, and he used that jeep the way most people use a f150. what's the point of having money if you aren't gonna use it for anything?