Buying a truck in this crazy market?

[dreamingbig]

So someone shouldn't buy a house unless they can pay for it in cash?

We are talking over valued trucks that depreciate in a normal market not real estate.


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[loganwayne]

Find a new job where they buy you a truck and allow you to use it for personal use.

 

[h2so4]

Find a new job where they buy you a truck and allow you to use it for personal use.

THIS! It sounds wild, but it's way more attainable than most would realize. Given the tight labor market and deductions this would provide an employer, it's really not that expensive for them.

 

[loganwayne]

THIS! It sounds wild, but it's way more attainable than most would realize. Given the tight labor market and deductions this would provide an employer, it's really not that expensive for them.

i think it depends on the field. but a truck, phone, computer, tablet is all pretty common in my field. I haven't had a personal phone in 5 years.
I've been interviewing for a new company and the place I plan to go to if i receive an offer said if i receive an offer you have x amount to use to buy a vehicle, we prefer it to be white, black, silver, or dark grey.

Company writes it all off as business and marketing expense since their logo is on the side but i made it clear i drive 500 miles a weekend fairly often to go hunting and they said cover the gas on the weekend we dont care.

 

[Yooper]

Admittedly I have not read every single post on this thread, but thought this was interesting. A close family friend is a part owner of a Ford dealer in my area. His prediction, based on what he's been hearing from Ford, is that the days of lots full of unsold vehicles is gone forever. He suspects he'll end up with several mannequin units that people will use to test drive and then order what config they want. So more of a build to order vs build to stock concept. Of course lead times for new trucks will have to come way down before that's reality, IMO, but it's an interesting concept if the consumer buys in.

 

[loganwayne]

Admittedly I have not read every single post on this thread, but thought this was interesting. A close family friend is a part owner of a Ford dealer in my area. His prediction, based on what he's been hearing from Ford, is that the days of lots full of unsold vehicles is gone forever. He suspects he'll end up with several mannequin units that people will use to test drive and then order what config they want. So more of a build to order vs build to stock concept. Of course lead times for new trucks will have to come way down before that's reality, IMO, but it's an interesting concept if the consumer buys in.

this is pretty much been done in construction now for years. you use to be able to go pick up stock size windows of several brands now even then are ordered and wait. if they can get lead times down to 10-12 weeks 100% see it happening

 

[backcountry_hunter]

I have a 2011 f150 I’ll sell you, radio doesn’t work, 225k miles for 5 easy payments of 5k

I have 50 sheets of 1/2" OSB I'll trade you w/ a little extra cash on your end?

 

[CorbLand]

While I agree with you, it’s not how America works currently and it hasn’t been that way for quite a while.

Why would save and pay cash for it? In the last 40 years, the economy has basically been dictated by interest rates and printing money.

 

[deltadukman]

They are financing vehicles and boats 84+ months now because people don't look at the bottom line, but only at the "how much is my payment". The argument that it is because cars last longer isn't the reason I can assure you. Hell, you can finance a Bass Pro Shops brand boat for 120+ months. It's not because those boats are lasting 10+ years. They are making their money over time and the used car market is higher so that if you do default, the asset is worth more. It's still stupid and to me, the longer financing periods are what have allowed prices on vehicles to increase to the amount they are today. No way should a truck or Tahoe cost more than $50k, but they do. If people only had 3 years to finance a vehicle, I can assure you we would see a lot less F250's, King Ranch trucks, and Denalli's running around.

 

[DenverCountryBoy]

Why would save and pay cash for it? In the last 40 years, the economy has basically been dictated by interest rates and printing money.

Here is a demonstration of the current fed policy

Lately, they have been rolling back quantitative easing slightly, so set it to 3/4 speed.

Money printer go BRRR.

We are still along ways from actual quantitative tightening, ie. money printer go RRRB.

 

[z987k]

They are financing vehicles and boats 84+ months now because people don't look at the bottom line, but only at the "how much is my payment". The argument that it is because cars last longer isn't the reason I can assure you. Hell, you can finance a Bass Pro Shops brand boat for 120+ months. It's not because those boats are lasting 10+ years. They are making their money over time and the used car market is higher so that if you do default, the asset is worth more. It's still stupid and to me, the longer financing periods are what have allowed prices on vehicles to increase to the amount they are today. No way should a truck or Tahoe cost more than $50k, but they do. If people only had 3 years to finance a vehicle, I can assure you we would see a lot less F250's, King Ranch trucks, and Denalli's running around.

Next we're going to see idiots that took 12 year loans on vehicles want bailed out because they are upside down with a worthless chunk of metal, and they didn't "know" that is was about the dumbest financial decision they could make.

 

[eddiewiggles]

I was in the same boat until I bit the bullet about two weeks ago. Was torn between getting a good reliable truck that would last me (something I needed to hunt and fish out of) or getting a used Honda Civic or something good on gas that was reliable. The used car route would’ve been a good investment I feel like as it would’ve lasted, but…I spent a lot of time looking online, Facebook marketplace, etc.

I finally spent one day with my dad riding around and stopping at lots of dealerships. Used cars in decent shape like I was wanting for going for $15k usually. That’s for like a 10 year old car with 100k miles. That same day I found a 2020 F-150 Lariat with 64k miles and the 5.0. Sticker price was $39,999 and I bought it. It was a lot of money and more than I wanted to spend, but I also have a much nicer truck that I expected to get. I put enough down to get my payments below $400 a month, have a very good warranty as well. I’m very happy with it, and see myself keeping this truck for a long time. I had been sitting on some money for a while and this was my investment as I don’t see the truck market dropping much anytime soon. I think I got a decent deal. Ultimately, it’s just up to you if it’s worth it. By the way, I get about 22 mpg if I’m not in town and stay below 75mph or so.

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[CJohnson]

I ordered a ‘22 f-250 at the end of January and got it last week. STX package with the 7.3 gasser. Paid $50k for it. Didn’t really want to buy a new truck, but I couldn’t justify paying $40-45k for a used one. Thanks to one of the guys on here for the heads up about building them on the ford website.

 

[DangerRanger]

I have 50 sheets of 1/2" OSB I'll trade you w/ a little extra cash on your end?

Too good of a deal I would be taking advantage of you.

How about 100 packs of bacon?

My bacon expenses have doubled since 2020, bacon inflation is too damn high

 

[kayvon]

Here is a demonstration of the current fed policy

Lately, they have been rolling back quantitative easing slightly, so set it to 3/4 speed.

Money printer go BRRR.

We are still along ways from actual quantitative tightening, ie. money printer go RRRB.

It is already happening. Savings have evaporated and credit card debt has exploded. The fed doubled their rates and we will rapidly see prices cascade.

 

[Clearedhot1]

So how do you explain the 11,000lb towing capacity of the half tons?

Oh, you can pull it no problem ….you just won’t be able to stop it quickly if needed.


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[5MilesBack]

My bacon expenses have doubled since 2020, bacon inflation is too damn high

Back when there was pandemic buying of toilet paper in early 2020, it boggled my mind that people were doing that. I immediately focused on bacon and literally filled a freezer with it because it was still cheap and plentiful. I have to have bacon.

 

[cwparry44]

If gas prices continue to rise truck prices will stabilize but I doubt they go down. It will take months for prices on hard goods to catch up with this inflation. Manufacturers can’t keep up

 

[FLATHEAD]

Back when there was pandemic buying of toilet paper in early 2020, it boggled my mind that people were doing that. I immediately focused on bacon and literally filled a freezer with it because it was still cheap and plentiful. I have to have bacon.

Smoked Pork Jowls.
Much cheaper and possibly better than bacon.
Slice it up and fry it just like bacon.

 

[Billinsd]

the longer financing periods are what have allowed prices on vehicles to increase to the amount they are today.

Great point!!