Buying a car in this economy (2 Viewers)

[MarylandWHODAT]

Is it just me or are you all getting inundated with requests from dealerships that will "pay top dollar for your trade in". I've had emails and just got a text from a dealership (where I get my oil changed) for a trade in request. I thought why, but then did some digging and as I suspected, the obvious answer is the correct one.

The now short lived EV honeymoon is dying out due to the astronomical prices being charged (no pun intended) for EV's, the lack of charging options and the lack of range versus a gas powered vehicle. That and hybrid sales are through the roof. EV's are not going away but they are just priced way too high for the average American. I equate them to craft beer. There will be a market for them but the American population are Coors Light drinkers more so than craft beer because they can afford it.

So, the demand for used vehicles, priced at a reduced price, are in high demand. It's the simplest answer as to this: what can you afford? Used vehicles. My nephew just bought a 2020 Ford Fusion Hybrid for $21,500. Still higher than what I would want to pay but it only 14,000 miles on it and it is loaded! And 50 mpg!! That's the key!!

 

[Brennan77]

Is it just me or are you all getting inundated with requests from dealerships that will "pay top dollar for your trade in". I've had emails and just got a text from a dealership (where I get my oil changed) for a trade in request. I thought why, but then did some digging and as I suspected, the obvious answer is the correct one.

The now short lived EV honeymoon is dying out due to the astronomical prices being charged (no pun intended) for EV's, the lack of charging options and the lack of range versus a gas powered vehicle. That and hybrid sales are through the roof. EV's are not going away but they are just priced way too high for the average American. I equate them to craft beer. There will be a market for them but the American population are Coors Light drinkers more so than craft beer because they can afford it.

So, the demand for used vehicles, priced at a reduced price, are in high demand. It's the simplest answer as to this: what can you afford? Used vehicles. My nephew just bought a 2020 Ford Fusion Hybrid for $21,500. Still higher than what I would want to pay but it only 14,000 miles on it and it is loaded! And 50 mpg!! That's the key!!

I got all those letters as well for my 2017 Golf. I couldn't get an actually decent offer from a dealer though. I think I would have done well privately but stress and time dictated that I take what I thought was a fair offer from Carvana. The experience could not have been more smooth.

 

[dtc]

I'm driving an 18 Denali with 150k miles on it and a used 22 would cost more than the 18 did.

Prices of cars are nuts. Someone hit my wife's car 6 months ago and totaled it and she's now one of the lucky ones with 6/5% or some such on her new one. I will drive mine till I die before making 1000 / month payment or buy a new car just to lose 30% for signing the papers.


More money to waste on boats, whiskey and cigars if you drive the old one till it dies, right?

 

[Mr. Blue Sky]

I will drive mine till I die before making 1000 / month payment or buy a new car just to lose 30% for signing the papers.

Same same.. i am driving my old Jeep til she dies.. but as i mentioned upthread, the old “truth” about vehicles depreciating 30% (or whatever percentage) right away just doesnt apply , like you urself said , the used 2022s cost as much as ur 2018 cost new .

 

[dtc]

Same same.. i am driving my old Jeep til she dies.. but as i mentioned upthread, the old “truth” about vehicles depreciating 30% (or whatever percentage) right away just doesnt apply , like you urself said , the used 2022s cost as much as ur 2018 cost new .

As you said above, I'm pretty sure this "new normal" won't be sustained, but I also said that back when mortgage interest rates dipped below 9% 20 plus years ago.

The new Bronco Raptor looks cool though. I might could consider something like that just because I could rationalize it being fast, but an SUV for 100k seems silly.

 

[efil4stnias]

As you said above, I'm pretty sure this "new normal" won't be sustained, but I also said that back when mortgage interest rates dipped below 9% 20 plus years ago.

The new Bronco Raptor looks cool though. I might could consider something like that just because I could rationalize it being fast, but an SUV for 100k seems silly.

Current 2024 Tahoe Premier pricing lol.

its out of control. The problem is people keep buying at these ridiculous prices - busting the curve ( if you will- always one smart kid in the class ruining for everyone lol )

 

[Devildog]

Last week I bought a brand new 2024 Honda Civic at 5.04%. I just happened to luck into a great deal and was out the door at$25K. I love this car and will drive it until the wheels literally fall off.

 

[Mr. Blue Sky]

at 5.04%.

Too on the nose .

 

[Devildog]

Too on the nose .

Ok, round it down.


There's deals out there. It took me a while to search and I wasn't going to pull the trigger too quickly.

 

[CapitalCitySaint]

Current 2024 Tahoe Premier pricing lol.

its out of control. The problem is people keep buying at these ridiculous prices - busting the curve ( if you will- always one smart kid in the class ruining for everyone lol )

People are in a lot of debt.

 

[tenordas]

Is it just me or are you all getting inundated with requests from dealerships that will "pay top dollar for your trade in". I've had emails and just got a text from a dealership (where I get my oil changed) for a trade in request. I thought why, but then did some digging and as I suspected, the obvious answer is the correct one.

The now short lived EV honeymoon is dying out due to the astronomical prices being charged (no pun intended) for EV's, the lack of charging options and the lack of range versus a gas powered vehicle. That and hybrid sales are through the roof. EV's are not going away but they are just priced way too high for the average American. I equate them to craft beer. There will be a market for them but the American population are Coors Light drinkers more so than craft beer because they can afford it.

So, the demand for used vehicles, priced at a reduced price, are in high demand. It's the simplest answer as to this: what can you afford? Used vehicles. My nephew just bought a 2020 Ford Fusion Hybrid for $21,500. Still higher than what I would want to pay but it only 14,000 miles on it and it is loaded! And 50 mpg!! That's the key!!

The real way to go is to hunt places like Facebook marketplace, next door, etc., and find someone selling their own car. You can find a realistic price (just be smart and take the car to a trusted mechanic before buying it) rather than paying the uptick any dealer is charging to be middle man.

 

[saintmdterps]

Is it just me or are you all getting inundated with requests from dealerships that will "pay top dollar for your trade in". I've had emails and just got a text from a dealership (where I get my oil changed) for a trade in request. I thought why, but then did some digging and as I suspected, the obvious answer is the correct one.

The now short lived EV honeymoon is dying out due to the astronomical prices being charged (no pun intended) for EV's, the lack of charging options and the lack of range versus a gas powered vehicle. That and hybrid sales are through the roof. EV's are not going away but they are just priced way too high for the average American. I equate them to craft beer. There will be a market for them but the American population are Coors Light drinkers more so than craft beer because they can afford it.

So, the demand for used vehicles, priced at a reduced price, are in high demand. It's the simplest answer as to this: what can you afford? Used vehicles. My nephew just bought a 2020 Ford Fusion Hybrid for $21,500. Still higher than what I would want to pay but it only 14,000 miles on it and it is loaded! And 50 mpg!! That's the key!!

Actually prices for the Tesla 3 are down. I’ve seen 26k for 2021 with < 40k miles. Having driven one, I’d buy one in a heartbeat. Just that I don’t want to give up my 255.00/month payment at 3.75%

 

[CapitalCitySaint]

I'm driving an 18 Denali with 150k miles on it and a used 22 would cost more than the 18 did.

Prices of cars are nuts. Someone hit my wife's car 6 months ago and totaled it and she's now one of the lucky ones with 6/5% or some such on her new one. I will drive mine till I die before making 1000 / month payment or buy a new car just to lose 30% for signing the papers.


More money to waste on boats, whiskey and cigars if you drive the old one till it dies, right?

I was going to buy a new car last year - some know this because I made a thread about it. I went car shopping, decided on the Audi and then went on a work trip for a week, came back and work was super busy so I was too overwhelmed to deal with buying a new car. I work from home so about a month later, decided I just don't drive enough to truly want to buy a new car. My car is a 2009 Acura and I'm just going to drive it until t becomes a "need" (i.e. the repairs become more costly than a monthly payment). Apart from running errands and going to the gym & the occasional trip to a friend's house, I don't drive a lot. If I'm going "out" I usually Uber due to drinking and/or parking situations. It's just less hassle.

More money to help my son when he truly needs it, invest, save, travel, buy new furniture, self-care things, pay for trips or things for my mom or child, etc. without having to worry about how much money I have in my bank account. I currently have no debt and want to keep it that way as long as I can.

 

[CapitalCitySaint]

Actually the prices for Tesla 3 are down. I’ve seen 26k for 2921 with < 40k miles. Having driven one, I’d buy one in a heartbeat. Just that I don’t want to give up my 255.00/month payment at 3.75%

Performance aside (and based on aesthetics alone) I don't understand the appeal of Teslas. They are ugly, all of them look like some variation of the beetle from Super Mario Brothers and the interior is so plain with nothing but an iPad.

 

[saintmdterps]

Performance aside (and based on aesthetics alone) I don't understand the appeal of Teslas. They are ugly, all of them look like some variation of the beetle from Super Mario Brothers and the interior is so plain with nothing but an iPad.

The 3 with dual motors is wicked quick. I think the S and 3 are both appealing but the X is ugly.

I’d put roll-on acceleration on a par with my modified Z-28, albeit without the exhaust theatrics of the Chevy