My 2014 Silverado was totaled in February by a crazy gal (it was parked), and in looking for a replacement 2014 I came across a 2020 Sierra Harley Davidson Edition.

$92,000

1500 that is.

quote:

Originally posted by Poacher:
My 2014 Silverado was totaled in February by a crazy gal (it was parked), and in looking for a replacement 2014 I came across a 2020 Sierra Harley Davidson Edition.

$92,000

1500 that is.

Plus $1,250 for the optional floormats. Insane

Paul, I too play this game and struggle to comprehend how I’d buy the Civic I want.

How do people do two car payments for 60, 72 or 84 months when they’re under on the loan?

I don’t get it.

Also in the "I don't get it" camp. Rolling in my '96 Toyota I see that around here I'm swimming in 70k+ vehicles. Not all of the drivers appear to be going without food too often either.

Haven't noticed any bridges with swarms of people living under them that own these vehicles, so they must also have housing.

Go to Walmart. Take a look around the parking lot, observe the expensive SUVs, typically shiny black Escalades and BMWs, although there are others, too. Eyeball the people driving them, and try to figure out where the money to pay for these vehicles is coming from.

Boggles the mind.

Leases most likely. A lot are super affordable and feeds people's lust for having a brand new vehicle because "I deserve it"...

quote:

Originally posted by V-Tail:
Go to Walmart. Take a look around the parking lot, observe the expensive SUVs, typically shiny black Escalades and BMWs, although there are others, too. Eyeball the people driving them, and try to figure out where the money to pay for these vehicles is coming from.

Boggles the mind.

I was thinking about taking advantage of the incentives right now on either a Ranger or a Tacoma, but it's just so insanely expensive...

My Cherokee will do just fine for now.

Don't put the $30k into a Highlander. Think about how much bulldozer that would buy.

i just "kinda retired" and bought my 2015 highlander (i put 171k miles on it before i bought it.)

it was new in the fall of 2014 and it will be the last 'new' vehicle i will ever "own"...

no more. there is no way in heck i could afford any new car now.

that is ok. they are just tools like a pair of pliers. i don't need (want) to travel and if i do we can rent a car

bob

Yup, know the feeling... Just put thirty five bucks in u joints on the ol jeep xj.

quote:

Originally posted by PHPaul:

quote:

Originally posted by DaBigBR:
I certainly understand the sticker shock. It explains the world of 72 and 84 month loans, doesn't it?

It does, but I don't think I could face that long of a term. There's a statistically measurable chance I wouldn't live that long.

Brother in Law (the one who lives with us) actually NEEDED a new car as his Suzuki SX4 was starting to need significant repairs and since Suzuki bailed on US sales, parts have become an issue. He's on SS Disability and has seriously limited means so we went with the 84 months to keep the monthly within his means on a Yaris.

But stretching it that far just to live beyond your means is ignorant IMHO.

Lease (if you can live with the mileage limitations). You'll pay half or less. It will probably take two leases to get through sixty months, but you'll have two brand new cars in that time. For the right people it can make sense.

quote:

Originally posted by FN in MT:


Current vehicle prices for many models are borderline crazy.

totally this

the only way to somewhat justify it is to commit to owning for 10+ years

-------------------------

Because cars last so long now, it's actually quite reasonable to own a car for 10 years or more.

I'd be curious to see the cost of ownership of a car adjusted for inflation, lifespan of the vehicle, and adjustment for desirable advances in technology like fuel injection, airbags, abs brakes, etc.

My guess is that the cost of a base model car has been relatively flat over time, even though the base model now has far more features than past cars (power windows and AC, traction control, airbags , etc).

I can get a 2018 Nissan Rogue AWD for around $13,000 with 20k on the clock.

Bunches of rental fleets are being culled and they are CHEAP.

The lowest mileage vehicle I’ve ever purchased is 88,000 and the most I’ve ever paid is $12,000. We’ve had it now for six years with no major repairs. Buying new vehicles is pissing away your future net worth. It’s not that I can’t afford new; it just seems like a poor investment.

quote:

Originally posted by V-Tail:
Go to Walmart. Take a look around the parking lot, observe the expensive SUVs, typically shiny black Escalades and BMWs, although there are others, too. Eyeball the people driving them, and try to figure out where the money to pay for these vehicles is coming from.

Boggles the mind.

Or visit a lake and notice the number of families riding in newish wakeboard boats that top $100k.

We Americans love consumer debt. We also love to cite the strength of our economy but we fail to acknowledge how much it is dependent on our unfailing lust to finance shit we really don’t need.

So OP, do our economy a favor and go buy that new Toyota.

quote:

Originally posted by Muddflap:
I played that same game with a new F-150 Lariat equipped just like my, paid for, 2008 Lariat.

The 08 is sitting in the garage looking good.

I hear this!
My '11 XLT looks good too. I was at the local dealer getting a new battery, walked the lot, was amazed at how much XLT's stickered for, step up to Lariats step up again for Platinum's etc. and you were in the 70K range, for a 6cyl turbo.

Ill keep mine for now...

HK Ag

quote:

Originally posted by sigcrazy7:
The lowest mileage vehicle I’ve ever purchased is 88,000 and the most I’ve ever paid is $12,000. We’ve had it now for six years with no major repairs. Buying new vehicles is pissing away your future net worth. It’s not that I can’t afford new; it just seems like a poor investment.

It's a poor investment because it's not an investment--it's a depreciating asset. It's a physical item with a finite lifespan than is consumed as you use it.

Every thing you buy today is pissing away your net worth. The shoes on your feet, the clothes on your back, the TV you watch. Very few items appreciate in value as you use them. Some things, like having a beer, is literally pissing away money.

Drawing the line at a new car, but not at used clothes or used shoes, is just a matter of degree. Why limit yourself to only $12k on a used car? Reasonably reliable transportation can be had for less than that. Are you not also pissing away your future net worth by not driving a perfectly reliable $6k car, or a $2k car?

For some people, a newish car is plenty--they derive no significant value from buying a new car. For others, a bicycle is fine, they derive no significant value from buying a car, used or not. But for some people, they derive value from a new car, whatever that value may be, so they'll buy a new car.

In any case, saving for retirement is smart. But after making sure your needs are taken care of in your old age, the optimal time to enjoy the fruits of your lifestyle isn't at the end, it's somewhere closer to the middle.

quote:

Originally posted by Aeteocles:
In any case, saving for retirement is smart. But after making sure your needs are taken care of in your old age, the optimal time to enjoy the fruits of your lifestyle isn't at the end, it's somewhere closer to the middle.

Yes, but many people purchase new vehicles that represent nearly all of their disposable income, before planning for their other needs. If you have $1M large saved, an $80,000 car is a proportionate expense. However, a huge percent of our population enjoys new vehicles with no future planning for their retirement, rationalizing that they need it now. When I was younger and had less, my line in the sand was lower than $12K. In the future, it will probably be higher, but only after my investment goals are met.

When I was a young man, one of the greatest things that I was ever given was The Richest Man in Babylon by George Clayton. That book is why I’ve never owned a new car.

quote:

Originally posted by PHPaul:

quote:

Originally posted by DaBigBR:
I certainly understand the sticker shock. It explains the world of 72 and 84 month loans, doesn't it?

It does, but I don't think I could face that long of a term. There's a statistically measurable chance I wouldn't live that long.

Brother in Law (the one who lives with us) actually NEEDED a new car as his Suzuki SX4 was starting to need significant repairs and since Suzuki bailed on US sales, parts have become an issue. He's on SS Disability and has seriously limited means so we went with the 84 months to keep the monthly within his means on a Yaris.

But stretching it that far just to live beyond your means is ignorant IMHO.

Living beyond his means is exactly why your brother in law went with 84 months. I don't know why his reason for living beyond his means is any more justified than someone else living beyond their means?