Will Vehicle Prices Ever Decrease?

[Dackdack]

I am considering a new vehicle myself right now. To me it seems to make sense. I paid 50k for my truck 18 months ago and I’ve had a few warranty issues so I’m wanting to unload before warranty runs out. I’ve been offered 60k on trade today and the new one is way more loaded and is 85k at 1.9%. So with some cash down and the tax benefits of trading, it seems reasonable to me.

 

[rodney482]

2024

 

[Coopsdaddy]

Anyone seen a base 4wd maverick yet?Im wondering how much they will jack the price up on these sence they seem like a affordable option.

 

[wind gypsy]

Anyone seen a base 4wd maverick yet?Im wondering how much they will jack the price up on these sence they seem like a affordable option.

They are at a nice price point. That 4.5' bed would be pretty limiting in actual utility though compared to just getting a subie or crossover suv.

 

[roadrunner]

What would ever make vehicle prices decrease? They have been on the rise for decades. A lower demand will make the price even worse.

 

[Coldtrail]

I don't think it's a problem with vehicle prices, it's a problem with the way Americans live. If you make $60k a year it might not be a good idea to buy a $50k truck with an 84 month loan. If people would refuse to pay completely ridiculous prices, they would get cheaper. There is no reason a vehicle costs this much. I work in semiconductor and chips for the most part are cheap. The reason there's a shortage is the auto manufacturers cancelled their orders when covid hit. We never shutdown or even slowed down production during covid. I worked my normal schedule the entire time. The auto industry expected sales to drop. They didn't know the government was going to pay people to stay home and buy stuff. Just say no.

The Just say no is very true, even reading this thread you can see how many people are buying a vehicle just because its a perceived good deal......reality is there has never in the history of automotive dealers been a "good deal" for the consumer on a new truck.

The dealers that are buying used trucks at top dollar are simply trying to get rid of private sales which normally would keep truck prices much more competitive. Your local dealer (and manufacturer) now controls the entire market new and used and don't think they haven't realized this. Also, the sale of the rig is only the beginning, there is an enormous amount of money made in financing and accessories. Now you can finance a set of wheels and tires for "only $17 a month added to the payment using our great financing!"etc. At some point this will all implode, people are over extended and buying new vehicles that won't be worth anything while they are still making payments, the used trucks being bought by dealers will be sitting because the banks won't loan crazy money anymore on a 3yr old truck with 90,000mi on the clock. The auto industry is creating their own problem and has been taught that even when they fail the govt will be there to get them back on their feet. Add powersports to this too, banks are playing a dangerous game loaning out money on goods that are essentially going to be worn out during the life of the loan. They are hoping you keep trading up while the stuff is still worth something, but eventually people will just need to keep what they have.

If you get talked into trading a perfectly good vehicle for a new one right now thinking you are getting an awesome deal, you just have weak sales resistance......even if your sales person appears to be a "real straight shooter"

 

[Theringworm]

Ford Motor Company recently announced another round of price increases across a significant portion of their lineup to take effect I believe next week. Vehicle MSRP prices will NEVER go down. They never have in the 30 years I have been a buyer. Now sure, there will be better “buying opportunities” where the discounts or final sales price will better but that’s not to be mistaken with what the suggested MSRP of the car is. We are finally seeing a select few dealers offering 3-4% below MSRP again. A couple of months ago and for almost a year prior to that prices were MSRP or above MSRP. But as the game goes, that MSRP today isn’t what it was 12 months ago so even with a 3-4% discount you are likely still paying more now than back then.

 

[bozeman]

I've never seen a 'good time to buy a new truck' in my life.......

 

[Graybush]

The Just say no is very true, even reading this thread you can see how many people are buying a vehicle just because its a perceived good deal......reality is there has never in the history of automotive dealers been a "good deal" for the consumer on a new truck.

The dealers that are buying used trucks at top dollar are simply trying to get rid of private sales which normally would keep truck prices much more competitive. Your local dealer (and manufacturer) now controls the entire market new and used and don't think they haven't realized this. Also, the sale of the rig is only the beginning, there is an enormous amount of money made in financing and accessories. Now you can finance a set of wheels and tires for "only $17 a month added to the payment using our great financing!"etc. At some point this will all implode, people are over extended and buying new vehicles that won't be worth anything while they are still making payments, the used trucks being bought by dealers will be sitting because the banks won't loan crazy money anymore on a 3yr old truck with 90,000mi on the clock. The auto industry is creating their own problem and has been taught that even when they fail the govt will be there to get them back on their feet. Add powersports to this too, banks are playing a dangerous game loaning out money on goods that are essentially going to be worn out during the life of the loan. They are hoping you keep trading up while the stuff is still worth something, but eventually people will just need to keep what they have.

If you get talked into trading a perfectly good vehicle for a new one right now thinking you are getting an awesome deal, you just have weak sales resistance......even if your sales person appears to be a "real straight shooter"

You might be assigning too much forethought to the dealers and the bankers. There is no master plan in this marketplace right now. I can tell you with great certainty that dealers are reacting to market conditions, not shaping them. If you don’t need a vehicle or want one then sit this dance out, but don’t kid yourself thinking that this will end in tears for the banks, and never forget that dealers make most of their money in the service drive.

 

[KoolBreeze]

My pickup is 1995 K1500 with a 5 speed and 192,000 on the clock. I bought the truck used in '99 for 10k. So I've been driving it 23 years without any major issues, just minor normal wear & tear stuff. I'd say it has worked out pretty well. There is absolutely no way I'll pay $60,000+ for a brand new one, let alone a used one.

 

[Blandry]

Once prices go up they don't come down.. buckle up...

 

[bozeman]

I'll also +1000 on the amount of $$ made in service.....one would be better off to negotiate a long term service plan than waste a second on any warranty plan......try that out and watch a dealership squirm......good point @Graybush

 

[Blandry]

Never buy your manufacturers extended warranty.. they have no dog in your fight to get things fixed. Purchase an extended warranty through your lien holder (unless your lien holder is the manufacturer which I would never recommend as well).

 

[Graybush]

Never buy your manufacturers extended warranty.. they have no dog in your fight to get things fixed. Purchase an extended warranty through your lien holder (unless your lien holder is the manufacturer which I would never recommend as well).

The dog in the fight to get your rig fixed is always the dealership because we get paid to do the work and sell the parts. We know that we are getting paid when we are deal with a manufacturers warranty, so parts get ordered immediately, you get a loaner car, and usually there is no deductible. Your lender is just a pass through for some other insurance entity, and they collect a commission and have nothing to do with the repairs going forward. And I would highly recommend using the manufacturers loans when available for 2 reasons: first, there are almost always subvented rates available on new vehicles that are well below market, and secondly, if you should experience issues with your credit score dropping you can expect to get another loan through the manufacturer AS LONG AS YOU PAY THEM ONTIME. I see folks that have gone through a rough stretch get a new car approval at a great rate all the time. Your bank will turn you down flat for a couple late credit card payments and jack your rate going forward.

 

[Blandry]

there you go.. not my bank I use a credit union...my extended warranties will PAY for repairs.

 

[Fatcamp]

My pickup is 1995 K1500 with a 5 speed and 192,000 on the clock. I bought the truck used in '99 for 10k. So I've been driving it 23 years without any major issues, just minor normal wear & tear stuff. I'd say it has worked out pretty well. There is absolutely no way I'll pay $60,000+ for a brand new one, let alone a used one.

Many of us need bigger trucks for interstate use. I always swore I would never buy new but the more I look at it the more sense it makes.

The improved reliability and increased safety combined with more power makes for a strong argument.

 

[FLATHEAD]

I have a 2016 Ram I've been threatening to trade.
Looks like I'm gonna drive the P!$$ out of it!!

 

[adieatrick]

We bought at 2021 Tundra in Septmber and I feel we got a steal on it. They gave us 3x what they were going to give us for my 2009 F150 2 years ago and they surprisingly did not have the "market adjustment" on the Tundra. It is a Crewmax TRD in Army Green that was a custom order and the guy backed out. We got lucky as it came in on the truck while we were sitting at the dealer getting the wifes oil changed. After trade we got the truck for $38k brand new. The truck now has 10k miles on it and for laughs I looked at Carvana and could sell it for $50k today. Crazy times.

 

[Blandry]

don't laugh too hard.. you might need to buy another vehicle or home one day

 

[ndbuck09]

I am considering a new vehicle myself right now. To me it seems to make sense. I paid 50k for my truck 18 months ago and I’ve had a few warranty issues so I’m wanting to unload before warranty runs out. I’ve been offered 60k on trade today and the new one is way more loaded and is 85k at 1.9%. So with some cash down and the tax benefits of trading, it seems reasonable to me.

Not to get in your face but this is the exact mindset that the auto industry wants and the exact mindset that drives up pricing. Is a truck really worth $85k?? You thinking this is a good deal and doing it means that they just got another person to accept their price. Really screws the younger up and coming folks in the world man.

perhaps there's similiarities in this to the whole point game as well. Thanks boomers.