Will Vehicle Prices Ever Decrease?

[Button]

Hoping my truck lasts another couple years before completing shitting the bed. Thousands of rough miles on the beach takes a toll even using ‘salt off’ and washing. Next truck will not go to the beach..ever.

My truck is paid off and has been. Wife’s Jeep is almost paid off. Plan is to get her a new(ish) car since she will be commuting to work farther once house is finished. Keep the Jeep, build a shark fishing platform on a small trailer to tow and turn that into the Beach/fishing ride once my truck craps out. Then get a new(ish)/reliable truck for myself. As long as the truck is reliable, has cruise control, power windows(for my dog), and cold A/C I’m good to go.

 

[Fatcamp]

This thread has me considering ordering a new truck.

The trade in on my XL for a new XL makes simple sense, and I can get rid of all the taillight electronics.

Only risk is not knowing when I get the new truck.

 

[chanson_roland]

We've been hollowing out our domestic semiconductor manufacturing and electronics components/sensor industries for decades, which are some of the key chokepoints in the ability to manufacture modern vehicles. Until we can create alternate means of supply, I think we're in for a long stretch of high prices.

 

[j33]

Near the end of December 2020 I bought my 2020 GM 2500 for MSRP - 18% + tax. Fast forward to December 2021 and sold it for MSRP + 2%.

I can order a new truck for MSRP and hardly be out anything. Bonkers. Bought a used 2014 and planning to ride it out, expect rebates to come back Q4 2022.

 

[Rich M]

Cars and trucks were about $6,000 back in the 70s. They cost lots more now. So answer is nope, not gonna get cheaper.

 

[Baddog]

Maybe the government will do another cash for clunkers program, so you can trade your gas for electric!!!

 

[aftriathlete]

Any go-to websites for looking for used trucks? Been looking at Facebook marketplace, Craigslist, and AutoTrader, but any other good resources I'm not tracking?

 

[WyoBowhunter21]

I think it’s important to note that companies also buy new vehicles further hurting the market. The company I work for buys a pretty good amount of vehicles and Chevy had to limit them, at least that is what I was told. On a personal note, I don’t know how much these prices will drop. I agree with mentioned that we will probably not see prepandemic prices again. Trucks are getting more expensive like everything else. My wife and I would love to move but we can’t afford to sell the house we’re in because we couldn’t afford a new one. It’s sad to say that our world is forever changed.

 

[MattB]

There was an article in the WSJ today where a couple of US manufacturers were telling dealers to stop taking big markups or it could impact their ability to get inventory in the future.

So yes…

 

[jimh406]

It’s hard to predict where the market will go.

I suggest considering used. After buying a lot of new, I started buying used. Some vehicles barely are driven, but owned by people who take them for servicing regularly.

Prices still vary a lot. You have to be patient and not be set on a particular mode. In my case, I bought a 5 year old Lexus GX with 32K miles for less than 2/3s the price of new. It had full service records in regular intervals, no wrecks and one owner. Basically, it was a new vehicle without the warranty although I could buy a warranty if wanted. But, since it regularly visited the dealer, It’s not a risky choice.

You can find similar deals with other brands. Good luck.

 

[Finch]

Any go-to websites for looking for used trucks? Been looking at Facebook marketplace, Craigslist, and AutoTrader, but any other good resources I'm not tracking?

Www.cargurus.com

 

[Coldtrail]

Unfortunately the industry has now realized that the American market will always buy vehicles regardless of how ridiculous they inflate the prices.

One of the most valuable life lessons is to drive a royal piece of $hit around when you are young, that way your priorities for a vehicle will be more reasonable for the rest of your life. All it takes is keeping a few extra quarts of oil behind the seat and stopping at a creek to use a stolen Pabst Blue Ribbon pitcher to dip water to top off your radiator on your way to a hunting spot & you begine to learn about self sufficiency. Finding a discarded tire in the public land that matches your size.....that's winning the lottery

 

[Yoder]

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.

 

[wind gypsy]

I have worked hard to not borrow when buying cars (although I have taken some loans at times). I've always bought older vehicles with close to 100k on them and rode them out for quite a while. It's harder to find good deals like that now. I'm amazed at how people can afford payments on such nice rides. I used to figure it was roughly $100/mo for every $5k borrowed (5 or 6 yr loan). That's getting to be a $1200 payment on a $60k vehicle! (and Expeds are pushing 85k now).

I went to a dealership looking to pay 20-25k cash for a 1-3 year old car in Sept 2020. What I found was a 2 year old car was bringing $25k and I could get a brand new one for $28k with $0 down, 0% interest for 60 months. It takes a poor understanding of $ or acknowledged lack of spending control to think paying cash would be a better choice in that situation. In 5 years that monthly payment is going to be worth a lot less than now and the money used to make the payment has been growing.

Cliff notes - with high inflation, and high used vehicle prices, its a financial win to finance if you can get sufficiently low interest rates and pay MSRP or under on a new vehicle.

 

[brunobear]

As long as people keep buying at these prices there is no reason to go down!

 

[hutty]

Ford and GM Warn Dealers to Stop Charging So Much for New Cars​

https://www.wsj.com/articles/ford-g...cker-price-and-face-repercussions-11644323580

​

Looking to Buy a Used Car? Expect High Prices, Few Options​

Secondhand auto prices have hit a record as both new and preowned vehicles are harder to come by

https://www.wsj.com/articles/looking-to-buy-a-used-car-expect-high-prices-few-options-11620639000

 

[MattB]

Ford and GM Warn Dealers to Stop Charging So Much for New Cars​

https://www.wsj.com/articles/ford-g...cker-price-and-face-repercussions-11644323580

Lies, all lies. ;-)

Next you are going to try to convince us the sky isn't falling - but we know better.

 

[jge340456]

I work at toyota manufacturing plant in georgetown ky and coworkers have been selling 2 yr old 50,000 mile vehicles for more then they paid new. the county pva valued my 2018 tundra at more then purchase price in january and refused to lower the taxes. I dont see a end anytime soon

 

[Finch]

I work at toyota manufacturing plant in georgetown ky and coworkers have been selling 2 yr old 50,000 mile vehicles for more then they paid new. the county pva valued my 2018 tundra at more then purchase price in january and refused to lower the taxes. I dont see a end anytime soon

I've thought about this myself but what are they doing for replacement vehicles? Just holding off for better a time to buy or they just don't "need" another truck right now?

 

[jge340456]

I've thought about this myself but what are they doing for replacement vehicles? Just holding off for better a time to buy or they just don't "need" another truck right now?

Some buying new and others downsizing or waiting to replace. These are used car dealers paying higher then purchase price on a 2yr old car