Your time is worth something, and to some it’s worth more than the depreciation and interest. I know mine is.
People fighting over new cars while older used cars languish on the market
- Thread starter dareo
- Start date
True-but if you have enough of it (money) that doesn't matter.
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...
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.
GON
$100 Site Donor 2024
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 know a used car does not have a meaningful exchange rate with a single-family home, but the example might demonstrate that the issue might not be the cost of a new and/or used car, but rather a change in the buying power of the USD.
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 $65,000.00
The same truck three years ago was $55,000.00. I guess it's one's point of view if paying 10grand more than three years ago is palatable.
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Zee09
$200 Site Donor 2023
Many new vehicles are bought by business people as a tax deduction. The benefits are great...
Tax code section 179... I know I keep saying it but this is part of it ..
Tax code section 179... I know I keep saying it but this is part of it ..
Zee09
$200 Site Donor 2023
Agreed...I don't need no expensive car taking up space in my $7.25 million estate garage.
We both know that's for pretenders.
Neighbors fall into category, the wealthier they are the more normal cars they seem to drive.
I bought a base model Nissan Titan XE crew cab in 2004, the first year it was out. It was $23,400 out the door plus tax, title and license. 300+HP 32V V8, 5 speed auto, got better mileage than my current ride. Power windows, door locks, remote entry, CD changer, console, cruise, tilt, etc, etc. Could tow 7200 lbs. Not like a 70s base model at all.
I could have gotten an F150 supercrew XLT in 2004 for about the same money, I was also talking to Ford dealers but when I drove the Nissan I bought that instead.
That same money is about $37,500 on an inflation adjusted basis in 2023 dollars. Find me any full size base model crew cab truck nowadays that I can get out the door for $37,500+TTL. Oh sure I see loss leader ads sometimes in this range but the trucks are always unobtainium. Saw an ad for a Tundra lease for $349/mo, 10K mi/year, 3 years, but only on a very specific model that can be found nowhere.
The newer base model trucks have backup cameras, bluetooth, Apple CarPlay and more gears in their transmissions. Infotainment, but really cheesy infotainment on the base models. That's about it. Those things don't cost the manufacturer $10-$15K more. Can put a pretty nice head unit these days in the $300-400 range, for example.
But anyway. I'm keeping my old Navi, the OEMs can choke on their trucks. They're too expensive.
I could have gotten an F150 supercrew XLT in 2004 for about the same money, I was also talking to Ford dealers but when I drove the Nissan I bought that instead.
That same money is about $37,500 on an inflation adjusted basis in 2023 dollars. Find me any full size base model crew cab truck nowadays that I can get out the door for $37,500+TTL. Oh sure I see loss leader ads sometimes in this range but the trucks are always unobtainium. Saw an ad for a Tundra lease for $349/mo, 10K mi/year, 3 years, but only on a very specific model that can be found nowhere.
The newer base model trucks have backup cameras, bluetooth, Apple CarPlay and more gears in their transmissions. Infotainment, but really cheesy infotainment on the base models. That's about it. Those things don't cost the manufacturer $10-$15K more. Can put a pretty nice head unit these days in the $300-400 range, for example.
But anyway. I'm keeping my old Navi, the OEMs can choke on their trucks. They're too expensive.
i 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?
Not having hot water spells something else. You are describing a disorder- but I'm not a professional in that field.JMHO
almost 3 years old and web is saying my car value only dropped $~600 from new sticker 
idk how to feel...
idk how to feel...
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