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

[Yoder]

The OP explicitly stated she could afford it. Rather than making a false assumption and using that as the basis for a rant, you could have started (and finished) your post with "it's none pf my business what other people do...".

I just think overpaying for a vehicle by $50k is destroying America. It's not sustainable.

 

[WV Mountaineer]

…What young people are to do is abandon the example of the old and stop being lazy and playing victim by blaming the outcome of lazy ignorance on "policy." If more people would do that, we would have less bad policy because practically no one who has been elected in the past 30 years would have been elected by a responsible electorate.

BOOM!!!!! Couldn’t have said it better.

 

[GSPHUNTER]

Breaking news!!!!!!!!!!! People dont have to buy a new rig!!!!!!!!!!!!!! They can buy used stuff!!!!!!!!!!!!

Still paying top $$$$ for used these days.

 

[*zap*]

The OP explicitly stated she could afford it. Rather than making a false assumption and using that as the basis for a rant, you could have started (and finished) your post with "it's none pf my business what other people do...".

 

[Mike D Texas]

Still paying top $$$$ for used these days.

I haven’t seen anyone pay $100k for a used truck.

There are some new ones that are over $100k now and it’s just stupid.


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[GSPHUNTER]

I haven’t seen anyone pay $100k for a used truck.

There are some new ones that are over $100k now and it’s just stupid.


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Yet.

 

[Predator_SD]

The solution is simple….STOP SPENDING MONEY PEOPLE!

 

[Poser]

You are always welcome to pay 15k for a 35 year old vehicle.

 

[Billy Goat]

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?

 

[bcv]

It's going to hit the fan. Most of the supply issues are gone but prices keep getting higher. I have several friends that are upside down and maxed out in debt.

 

[Marbles]

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?

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.

 

[Billy Goat]

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.

I give this, two thumbs up.


After a few years of printing checks, since interest rates couldn't be lowered from zero, the only option is inflation.




Interest rates need to be about where they are, nobody likes that, but it's how you can boost the economy when you lower them, just its supposed to be short term, everyone became adjusted to it.

 

[thatguyoverthere]

Prices on many things have gone insane over the past few years. I certainly wouldn't pay a huge markup on any vehicle. Also *almost* certainly would never buy a NEW vehicle. Throwing money away, regardless of how much I have I just can't do it.

 

[tony]

You knew it was coming when morons started paying $400 for $1.58 worth of plastic aka a Yeti .

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.

 

[grfox92]

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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[khavok]

For those that have not been paying attention to the effects of bad policy and inflation….

A buddies wife just paid $82k for a fully loaded Renegade OTD- ridiculous. Now she can afford it but wow…have the price of these new vehicles gone up or what?

I bought my fully loaded Ram limited with air suspension in 2019 for $48k otd. That same truck now is $75k + around here…then add interest rates have gone way up…...how are young folks going to afford it?

The same way people buy 120k F-250s. Finance them under their business and use it as a tax write off. Anything above 50k for a truck is just a waste. A truck is a truck not a computer. The only way to stop the price gouging is if everyone started buying beaters and foring the market to crash.

 

[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