cevans_40 said:

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Jeeper79 said:

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I wonder if this has the potential to become a bubble because of people buying expensive depreciating assets they ultimately can't sustain.

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We can only hope so. The whole economy needs a reset ASAP

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Be careful what you wish for.

twk said:

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I've got a 2018 Jeep Grand Cherokee with 77k miles and a 2009 Ford Fusion with 180k.

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2006 Sierra 1/2 ton, 240,00 miles. 2004 Silverado 184,000 miles, and the 2002 Sierra 2500 Duramax 142,000 miles to pull the (bought with cash) 2006 fifth wheel.

CanyonAg77 said:

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Small town in the Texas Panhandle.

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I grew up in Amarillo, that's why I am wondering where this was.

TAMU1990 said:

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I have a 2007 Sequoia and we just bought a used car last week. We are keeping the Sequoia and I just wanted a newer vehicle to drive out of town. All three kids in college have cars and we wanted two cars again.

2019 Highlander certified, $29k, 30,000 miles. Clean carfax. The prices for used Highlanders have been dropping - I think Toyota is coming out with a new body style soon. That car was $39-42k last year.

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Great purchase. Another issue I see is when many morons buy a Surbaban/Tahoe/Expedition etc instead of a minivan which is better for all aspects instead of towing. And men buy these for their wives purely out of insecurity because "they don't want to be seen driving a minivan". Tons of wasted dollars there for personal insecurity.

Its insane, I am looking for a honda civic right now as my car has tons of cormobidities, and dealers are charge 30k! 30 thousand dollars for a civic...... I will end up eating a 3k repair bill and holding on for a couple of years instead, no way these car prices are sustainable

CDUB98 said:

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cevans_40 said:

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Jeeper79 said:

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I wonder if this has the potential to become a bubble because of people buying expensive depreciating assets they ultimately can't sustain.

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We can only hope so. The whole economy needs a reset ASAP

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Be careful what you wish for.

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If wishing for goods/services to return to somewhere near pre-covid pricing is wrong, then I don't care to be right

Jeeper79 said:

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I wonder if this has the potential to become a bubble because of people buying expensive depreciating assets they ultimately can't sustain.

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No question. It probably already is a bubble.

CanyonAg77 said:

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Funky Winkerbean said:

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I don't disagree, but it begs the question of who still drives a car that's paid off?

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Me: Raises hand.

Have three. One paid off 15+ years ago, one inherited, one bought for cash.

Plus a few projects and farm truck.

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Yeah I've got 3 right now (plus company car). 2 @ TAMU and 1 for my wife, they all have under 80K miles (2013/2016 model years). I mighta bought something else the past couple of years but really no interest in covid/kids going to school/primary car just isn't worn out/inventory stuff made options silly.

I kinda/sorta consider myself a 'car guy,' but it amazes me how folks think a car is 'worn out' once it's gone thru one or two sets of tires. Now, something I admit to throwing money away at is keeping fresh Michelins on them. It's just silly but I like knowing/trusting my tires and the guys who put them on/rotate them etc.

Quote:

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I have a 2007 Sequoia and we just bought a used car last week. We are keeping the Sequoia and I just wanted a newer vehicle to drive out of town.

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I drive really old, high mileage vehicles. But I do a lot of the mechanic work myself, and I am quite confident of their capabilities. That being said, I 100% understand wanting a reliable car.

I am mechanically inclined and have the time, tools, and shop to work on stuff. We live in a safe area, with good roads, light traffic, good cell service, and moderate weather. We don't have kids at home. Two of our three vehicles are easily capable of long trips, and the third is about to get major service (by me).

The above paragraph does not apply to most people. So I understand that they need to drive newer, lower mileage cars.

On a side note, when we did not have a car that we felt we could trust for long trips, we would rent one for out-of-town travel. Did that for 6-12 months until we found a good used car.

cevans_40 said:

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CDUB98 said:

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cevans_40 said:

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Jeeper79 said:

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I wonder if this has the potential to become a bubble because of people buying expensive depreciating assets they ultimately can't sustain.

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We can only hope so. The whole economy needs a reset ASAP

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Be careful what you wish for.

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If wishing for goods/services to return to somewhere near pre-covid pricing is wrong, then I don't care to be right

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Lol. That's not the "reset" you're going to get.

CDUB98 said:

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CanyonAg77 said:

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Small town in the Texas Panhandle.

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I grew up in Amarillo, that's why I am wondering where this was.

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Ah, didn't know that. In that case, Hale Center.

Though we did own one in Canyon in the 1980s that was about $40K. And our current house (near WTAMU) was $60k when we bought it in 1994.

Funky Winkerbean said:

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I don't disagree, but it begs the question of who still drives a car that's paid off?

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2012 GMC...paid off in 2015...still driving it in 2023

Funky Winkerbean said:

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Burdizzo said:

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Funky Winkerbean said:

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Allowing 7 year terms spurred the price expansion.

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A seven-year-old car today would be a 2016 model with roughly 100k miles on it depending on a lot of factors. In 1980, a 1973 model with 100k miles had one two wheels headed for the scrapyard. I think seven year financing is ridiculous too, but cars are built a lot better these days than they used to be.

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I don't disagree, but it begs the question of who still drives a car that's paid off?

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What? Lots of people are driving cars that are paid off.

Quote:

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my car has tons of cormobidities

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Wife's 2016 Tahoe is paid off. My 2020 F150 is paid off. Will likely replace the wife's Tahoe with a new one in a couple of years but I will drive my F150 until either it dies or I die.

Lot of financial bubbles are going to burst one of these days. POVs are just another one of them to go.

These threads always get taken over by people bragging about how rich and thrifty they are.

Quote:

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it amazes me how folks think a car is 'worn out' once it's gone thru one or two sets of tires.

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My dad was born in 1930. When his cars hit 50k miles, he started looking for a new one.

And in the 50s, 60s, and 70s, he was probably right. But now, a car with minimal maintenance can easily get to 125k. As posted above, we have one with 240k that I would take on a road trip without hesitation. Even kept a Honda Oddy minivan up to 310k miles.

I am always wrong said:

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cevans_40 said:

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CDUB98 said:

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cevans_40 said:

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Jeeper79 said:

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I wonder if this has the potential to become a bubble because of people buying expensive depreciating assets they ultimately can't sustain.

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We can only hope so. The whole economy needs a reset ASAP

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Be careful what you wish for.

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If wishing for goods/services to return to somewhere near pre-covid pricing is wrong, then I don't care to be right

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Lol. That's not the "reset" you're going to get.

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I am afraid you are correct but a guy can still dream

Cynic said:

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These threads always get taken over by people bragging about how rich and thrifty they are.

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They are rich...and thrifty.

What a totally unrelated coincidence!

Mull this over. Most loans made on boats are either 15 or 20 years. These aren't yachts, just recreational boats from $40,000 to $200,000. The buyer will be upside down on that loan for years.

Teslag said:

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TAMU1990 said:

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I have a 2007 Sequoia and we just bought a used car last week. We are keeping the Sequoia and I just wanted a newer vehicle to drive out of town. All three kids in college have cars and we wanted two cars again.

2019 Highlander certified, $29k, 30,000 miles. Clean carfax. The prices for used Highlanders have been dropping - I think Toyota is coming out with a new body style soon. That car was $39-42k last year.

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Great purchase. Another issue I see is when many morons buy a Surbaban/Tahoe/Expedition etc instead of a minivan which is better for all aspects instead of towing. And men buy these for their wives purely out of insecurity because "they don't want to be seen driving a minivan". Tons of wasted dollars there for personal insecurity.

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I would buy a Tahoe/Suburban instead of a pickup rather than instead of a mini-van. Can tow a boat or small travel-trailer, haul groceries or luggage in a covered/locked compartment, and gets a little better economy than a truck. I hate to recommend Government Motors for anything, but these seem to be the best options in this niche. Ford cross-overs have lower towing capacities and Dodge...well I don't recommend any Dodge for any purpose.

Why can't people just buy old junkers and just be happy with that?

Pookers said:

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What the hell are people buying here? Don't Civics run in the Mid 20s usually?

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People will roll their negative equity from prior vehicles into their new notes. How that is possible, I have no clue.

Jeeper79 said:

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Zarathustra said:

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Call it whatever you want but the WEF is trying to reduce car ownership and the number of cars on the road. If the masses won't comply voluntarily they'll make it too expensive to drive.

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LOL that has nothing to do with this.

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What makes you so sure?

When airbags were first introduced they were debated because they would increase the cost of a car by roughly $1500/car and they didn't want to price people out of vehicles.

Now safety and gas mileage regulations increase the cost of a car by $3k-$5k annually and there is no debate.

Greenies want to drive up the price so you can't own a car to save "the planet"
Govt wants to drive up the price to increase tax revenue and control
Manufacturers want to drive up the price to increase profits
Dealerships want to drive up the price to increase profits
Most Consumers only care if they can make the payment regardless of terms because we are largely a financially irresponsible nation

No one is looking out for the cost of the car. That is until you can't afford it anymore. Then the govt will come back in to "fix" the problem they created through "wonderful" mass transit or subsides for the elite

Pookers said:

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What the hell are people buying here? Don't Civics run in the Mid 20s usually?

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Nope- that's part of my point.

I have been researching for a new car- and literally there are KIAs and Hondas where the final purchase price is over $40,000.

for a KIA!

and I like Kias, they look very good. but a decade ago that was the bottom rung of vehicles along with Hyundai.

and now both can cost you over $40,000 which used to be limited to luxury vehicles.

LMCane said:

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Pookers said:

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What the hell are people buying here? Don't Civics run in the Mid 20s usually?

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Nope- that's part of my point.

I have been researching for a new car- and literally there are KIAs and Hondas where the final purchase price is over $40,000.

for a KIA!

and I like Kias, they look very good. but a decade ago that was the bottom rung of vehicles along with Hyundai.

and now both can cost you over $40,000 which used to be limited to luxury vehicles.

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I think Kia has made some pretty big improvements to their vehicles over the previous decade though no?

Autoprices are crashing right now.

Fightin_Aggie said:

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Now safety and gas mileage regulations increase the cost of a car by $3k-$5k annually and there is no debate.

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You can buy a $30,000 car for $5k annually....

Manhattan said:

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Autoprices are crashing right now.

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1. No they're not. They might be normalizing again to some extent, but they're not crashing.

2. The price of vehicles in the short term doesn't have anything to do with my post, but thanks I guess.

My Sequoia has 335,000 miles. We are the only owner and it's still running well. We took care of it. Raised 3 kids in it and drove it out of state frequently.

I will be driving around quite a bit the next two years because my son is a freshman and plays juco baseball. I just wanted something more reliable because my husband can't go with me all of the time to mid week games.

CDUB98 said:

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Funky Winkerbean said:

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I don't disagree, but it begs the question of who still drives a car that's paid off?

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Here.

Mine and my wife's.

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Here ... but will likely change soon. I drive my vehicles to 12 to 20 years past new.

Manhattan said:

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Fightin_Aggie said:

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Now safety and gas mileage regulations increase the cost of a car by $3k-$5k annually and there is no debate.

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You can buy a $30,000 car for $5k annually....

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Sure, on an 8 year note. What kind of insanity is that?

LMCane said:

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Pookers said:

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What the hell are people buying here? Don't Civics run in the Mid 20s usually?

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Nope- that's part of my point.

I have been researching for a new car- and literally there are KIAs and Hondas where the final purchase price is over $40,000.

for a KIA!

and I like Kias, they look very good. but a decade ago that was the bottom rung of vehicles along with Hyundai.

and now both can cost you over $40,000 which used to be limited to luxury vehicles.

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Depends which Kia. You can get a Soul or the next size up for under $30k with decent options, but Sportage on up will be $30k plus and Sorento is easy to get over $40k.

That said, they are still cheaper than other makers' vehicles in the same size class for the most part.

Manhattan said:

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Fightin_Aggie said:

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Now safety and gas mileage regulations increase the cost of a car by $3k-$5k annually and there is no debate.

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You can buy a $30,000 car for $5k annually....

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Not in a number of years that would add up to anything in the ballpark of $30,000.