$82k- edit; for a 4 door Jeep Rubicon

[Cowbell]

Absolutely no one needs a new vehicle. In my town I see new diesel after new diesel after new diesel driving down the road. $80k and $90k brand new rigs. I know alot of the people who drive them. They absolutely don't NEED them and are burning half a mortgage payment a month to drive them and another half a mortgage payment a month for their wife to drive the brand new Denali or Expedition. It's absolute insanity.

People are free to spend their money however they want, but I would never in a million years spend as much as my mortgage on vehicles every month especislly vehicles that are depreciating in value.

The beauty of buying a used vehicle is the "testing" has been done. You can easily figure out what has a reputation for lasting, and what models and years have chronic issues.


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See, I disagree with part of this. Many of us use diesel trucks for work. And believe it or not, they are actually cheaper to own while under warranty. Due to that plus the way they hold their value, it's cheaper to own a new diesel than an older one if you use them daily. And trust me-I've ran the numbers and it has held true for me since 2014 in our business.

 

[2531usmc]

Yep, our inflation today started being baked in back in 2008 with QE, Wall Street absorbed it for years, but eventually it gets to Main Street. Been 4 presidents that have had a hand in that crap policy and none of them tried to stop it because it bought votes with tomorrow's money.

Stimulus money did not help, and was a bad idea under both presidents that slapped their names on the checks, but the idea that a few thousand dollars results in a 40% increase in the cost of housing over 5 years is fantastical. The worst thing is we will probably get to pick between the same two dotards next year.

And with the start of QT, prices for housing, cars, and college started rising higher than the (published) rate of inflation, Many American families responded by using credit and credit cards to maintain their lifestyle.

Now with credit card debt at 25% and morgage rates at 7% the real financial pain is just starting

 

[grfox92]

See, I disagree with part of this. Many of us use diesel trucks for work. And believe it or not, they are actually cheaper to own while under warranty. Due to that plus the way they hold their value, it's cheaper to own a new diesel than an older one if you use them daily. And trust me-I've ran the numbers and it has held true for me since 2014 in our business.

I did write in my post that the people driving them don't "NEED" them, as in they don't uses them for work and don't pull a horse trailer or camper every weekend.

I own a business and use it as an excuse to buy some things that I probably shouldn't due to it being a write off and being money I would pay taxes on if i didn't spend it, but I'm talking clothing, tools and inexpensive small items.

In regards to your response though and I'm not arguing, just generally curious. I just went on Facebook and found the first used diesel for sale. It's a 2013 F350 XL with 151k miles. They are asking $27k. 2023 F350 diesel I'm seeing online for $82k.

So are you saying that in the 5 years your truck is under warranty, you will spend $55k on unexpected repairs? $11k a year on unexpected non wear and tear repairs?

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[Coldtrail]

With vehicles I think people of all ages have convinced themselves they have certain "needs" or are worthy of more than they can afford and unwilling to compromise. An example of this is that I was in a job where we had fleet vehicles & would get a new one every 120,000mi or so. They are always relatively plain Jane 4x4 pickups with a few power options & usually were destined to a life of getting the $hit kicked out of them.

Some would show up and grab the keys and head home, the other crowd would spend 30min picking the truck apart and texting pics to friends to show how rough they had it having to drive a free pickup that didn't have chrome bumpers, fancy wheels, or carpeted interior.

The same goes for houses, there are lots of us that grew up with a large family in houses that were under 2000sq', and had one bathroom, we survived.

I'm not concerned what people are buying with their money, or financing, if you have it and want to spend it that's entirely your business....please just don't complain about paying your bills because you & your spouse decided that you "need" a 3000sq' custom home & "need" $150,000 worth of vehicles in the garage when your combined income is $100,000 a year or less.....there are alternatives

 

[UncleBone]

I've been looking at Nissan Pathfinders between 2009-2012. All have about 100k miles for around $15k. I could buy almost 6 of them for the price of the Jeep.

Be careful with anything before 2011. That SMOD issue can be expensive.

 

[UncleBone]

I had a retired buddy tell me the real problem was the boomers spending all this money they didn't earn.



A lot of truth to it.


Between 401k investments, selling their house in a market that was through the roof, investments that ended up paying out at higher rates gives a bunch of money that you didn't work for. Makes it easy to spend money. I have had a lot of clients that didn't care what it cost, they just wanted it now. Sold out in a high market, couldn't believe how cheap things were here, while we can't believe how expensive stuff is.

"I got money, what I ain't got is time."

Then supply and demand kicks in. Ripples across everything, and once you start getting more money for less work, why do more work for less money?

And then complain about young people "not wanting to work anymore".

 

[Szwampdonkey]

Yeti is so 2020
All the girls I work with are buying $50..00 Stanley drink mugs now. One gal has 6 of them

I drink my water from a $5.00 wal mart knock off nalgene and laugh when I think of the money I could have wasted.

Nothing wrong with Stanley. My dad gave me a coffee thermos a year ago he used to take to work at Allis Chalmers when i was a toddler. I was a toddler over 40 years ago.

Walmart anything never lasts nor do they back it when it fails. Walmart stuff is disposable short term use stuff.

Don’t waste money, buy good quality, then use it for a lifetime.

 

[Szwampdonkey]

And then complain about young people "not wanting to work anymore".

But young people DONT want to work anymore. And the ones that do have been brainwashed to think they need to be paid a “livable wage” to do menial unskilled tasks. Most don’t truly enter the workforce until their mid to late 20s which is laughable and pathetic.

I don’t know a single boomer that didn’t start working from the age of 16. They all have most definitely “earned” whatever money they have now. Their grandkids are currently living off of student loans and credit cards.

 

[FLATHEAD]

I'm 57. Never owned a new vehicle.
Everything I have is paid for.
Plan to keep it that way.

 

[Coldtrail]

52 here, lied about my age so I could get a good job at 15yo, worked as much overtime as I could the past 30yrs, bought used vehicles and built my own 1300sq' home which has been paid for for many years, own everything but had to work to do it.

 

[Carr5vols]

https://www.valuepenguin.com/used-car-ages-study

Study about used vehicles and states/cities...all studies have some bias so...

 

[Ucsdryder]

I’d love to see the window sticker on that car. I’ve never seen a renegade anywhere close to that price. Maybe some ridiculous dealer adds, lift, tires, wheels, rocket launchers?

It’s not just cars, look at the stuff guys are buying on here. 300 dollar pants, 400 dollar boots, 5000 dollar spotters, etc.

 

[GSPHUNTER]

The solution is simple….STOP SPENDING MONEY PEOPLE!

Yup, to many ten cent millionaires.

 

[riversidejeep]

I use the truck prices to make some of my decisions, A house came up for sale in the neighborhood on 3/4 acre , needs a lot of elbow grease. I see that some fancy trucks were going for $100,000, I bought the house for $125,000. I would rather have a place to live than a shiny truck.

 

[GSPHUNTER]

So with zero down on a 100k car loan you might be paying around $1600 a month for 72 months. Depending on interest % you can negotiate. Holy crapola.

 

[MuleyFever]

If we are talking about inflation dont forget that we dont just have dual income households anymore either. We have households where the adults are running side gigs, sometimes multiple, and working kids at home so they are spending those paychecks. As my man Biggie said "mo money, mo problems".

 

[5MilesBack]

Definitely first world problems. But Marxism will soon relegate us to third world status.

 

[KenLee]

Thank you Ten bear….
We hear from the talking heads inflation is 6%…thats total bullshit….its much higher than that in the real world.
Yes, it was a 4 door renegade with everything and looks like a lift and custom wheels with at least 33’s probably bigger.

FWIW, I have a lot of friends that can afford these expensive rigs…my one buddy and his son both have TRX’s. I say more power to these people if they can afford it. I’m all for people making money, being successful And owning nice stuff.

My point is; for everyone else, Inflation is taking money right out of our pockets and our bank accounts and many don’t even realize it.

If someone doesn't realize it, Darwin needs to pay them a visit

 

[wyosteve]

Last time I was waiting for an oil change, the local Dodge/Jeep dealer had a Jeep Wagoneer Limited on the showroom floor. Factory sticker was $115, 000, no dealer add ons!

 

[Marbles]

And with the start of QT, prices for housing, cars, and college started rising higher than the (published) rate of inflation, Many American families responded by using credit and credit cards to maintain their lifestyle.

Now with credit card debt at 25% and morgage rates at 7% the real financial pain is just starting

True. Unfortunately the fix to glut is to cut back. Pain and discomfort are part of the world, try pushing it off too far, and frequently there will be a price to pay. Push it off far enough, and one will no longer be in control of how that price is payed.

Being a control freak, I'm a fan of paying early. Of course, that does not guarantee things go well, but it increase the odds. So, with that view, I think QT is needed (along with massive reform of Social Security, unemployment, and Medicaid/Medicare as they account for over 50% of the national budget, along with higher taxes while we get out of debt). A constitution amendment should be passed that ties the debt ceiling to tax rates, make the voters directly feel the cost of policy.

Of course, that has something in it to piss off every political persuasion and age group, so it is not going to happen.