Will Vehicle Prices Ever Decrease?

[CorbLand]

Then why do they buy it?

Most people I know that buy brand new do for two reasons.
1. Tax write off. Gotta have to spend the money, might as well spend it on something you get to keep.
2. Old people that are retired and have money to spend.

Businesses/business owners made more money than ever 2020-2022 and it’s still holding pretty strong.

One of the largest generations to exists is retiring. They are also the richest generation to exist.

 

[Reburn]

Most people I know that buy brand new do for two reasons.
1. Tax write off. Gotta have to spend the money, might as well spend it on something you get to keep.
2. Old people that are retired and have money to spend.

Businesses/business owners made more money than ever 2020-2022 and it’s still holding pretty strong.

One of the largest generations to exists is retiring. They are also the richest generation to exist.

I wish we could blame it on the boomers but that isnt realistic unfortunately.

U.S. population share by generation 2023 | Statista

In 2023, Millennials were the largest generation group in the United States, making up about 21.71 percent of the population.

www.statista.com

 

[CorbLand]

I wish we could blame it on the boomers but that isnt realistic unfortunately.

U.S. population share by generation 2023 | Statista

In 2023, Millennials were the largest generation group in the United States, making up about 21.71 percent of the population.

www.statista.com

View attachment 782099

One of the largest and they are wealthy and retiring. They have money to spend. One is the key word there.

 

[mt terry d]

Hey now, I'm 5' 8'', and I'm kind of fond of my tailgate step on my F250.

This is a mixed bag for me. I certainly agree on the proximity sensors, but I will pay significant money for my backup camera and hands free phone connection. So maybe I'm part of the problem?

I traded an 03 F250 in on a 22 F250 a couple years ago, and I'm not interested in going back.

Admitting you're the problem is the first step. Good for you. LOL

Back up cameras and hands free phone do not need to be part of the standard package
that drives up the cost for those who don't want that stuff. And it's added for many times the cost of what aftermarket supplies it for and is designed so that you are required to go back to the dealer and pay through the nose when it fails.
...................................
How many consumers were clamoring for the Volt? Or the electric F-150
or that stupid looking tesla thing they call a pickup? Or electric vehicles in the first place? Without government force and bribes they wouldn't be made by the major auto companies.

 

[JohnB]

Good video thank you for sharing.

You want to be really blown away put that mindset of inflation stealing money to your 401k and savings. You will get pretty frustrated. That 100k you put away 2 years ago is only worth 92k today.

Or put that 100k into a high yield savings account and it's now worth 110k 2 years later.

Or if your 401k was invested in index funds that track the S&P500 it is now 127k.

Im pissed at the increase in my grocery bills and there is no way I'm buying a brand new truck but damn has the money I've been squirreling away for retirement done well.

 

[HuntHarder]

There are a lot of new features on new vehicles. Half of them I did not want, but in order to get the ones you want, they make others part of the "package". The multipro tailgate being one of them. At first I thought it was pretty dumb, but like other things on my new pickup, I have grown to like them. The amount of cameras on these new vehicles is insane and complete overkill imo. After using them for a while, I have grown to love them. I get a birds' eye view of my vehicle when parking or backing out. Turn on your blinker when towing a trailer and a camera comes on that shoots all the way down your blind spot. Backing out of a spot in a busy parking lot is like a whole new ballgame. Cameras shoot down both directions. Crazy where the innovation has gone. I to am against most of this "crap" but after using some of the new tech, it is pretty damn nice. Oh and the heated and cooled seats and AMAZING. If I never had half the crap this new pickup has, I would never miss it. After having it, I love it and would probably require it moving forward. By the time I buy a new pickup, I am hoping they are flying by then.

 

[woods89]

Admitting you're the problem is the first step. Good for you. LOL

Back up cameras and hands free phone do not need to be part of the standard package
that drives up the cost for those who don't want that stuff. And it's added for many times the cost of what aftermarket supplies it for and is designed so that you are required to go back to the dealer and pay through the nose when it fails.
...................................
How many consumers were clamoring for the Volt? Or the electric F-150
or that stupid looking tesla thing they call a pickup? Or electric vehicles in the first place? Without government force and bribes they wouldn't be made by the major auto companies.

I'm fine with them being options, and I can understand that some folks would prefer not to have them.

As far as markup, I'm a residential construction contractor, and my everyday life is vendors supplying me things, and me billing them to customers at rates that I'm sure some wish were lower. So I may have a higher tolerance for that!

As far as EVs, in my circle ( mostly less than 40, conservative worldview, self employed in the trades or ag) there certainly is some enthusiasm for them. I wouldn't want one for my work truck, or for a hunting/camping rig, but for my sales and estimating work an electric F150 would be great, and with my wife driving children to school every day (60mi) the Rivian SUV would be fantastic.

Pros and cons with EVs, for sure, but it's not all pros or cons. I will agree with you about heavy subsidization.

Not trying to be argumentative, I just have a bit different perspective.

 

[Dos Perros]

Newsflash: my comments were in reference to the bull crap regulations being pushed to make everything more green…. Smaller engines, more batteries, restricted water flow in faucets, less water in washing machines (means more loads of laundry canceling out water savings), banning gas stoves, mandating electric cars, solar panels for powering cities (I saw how well that worked in my home state of Texas), windmills that will never pay for themselves and end up in land fills, etc, etc, etc…..

How about the USMCA, negotiated by the Trump Administration?

It drove rules of origin requirements from 62.5% to 75% made in North America. That drove cost increases.

It also required equivalent pay of automotive assembly labor at $16/hour, where before Mexico was in the $2-$3/hr range. That also drove significant cost increases.

I think if you're in the business of pointing fingers at people you'll quickly run out of fingers.

 

[5MilesBack]

I think if you're in the business of pointing fingers at people you'll quickly run out of fingers.

Predominantly, if you point at the government you cover a lot of bases and most of the problems we have today. All of the government mandated crap is a large part of the problem. I believe mandated backup camera's became a thing in 2015. I never use, nor do I want, the one I have. All our government is good for is costing us more money, but that's not a good thing.

 

[Bama67]

I bought a brand new Super Duty 4x4, well equipped Crew Cab (gas engine) for $38,000 just back in 2018

Whew, things have changed quickly.

 

[Dos Perros]

Predominantly, if you point at the government you cover a lot of bases and most of the problems we have today. All of the government mandated crap is a large part of the problem. I believe mandated backup camera's became a thing in 2015. I never use, nor do I want, the one I have. All our government is good for is costing us more money, but that's not a good thing.

Capitalism does a pretty good job of levying costs against us all as well. I'd hate to see either unfettered government or capitalism.

 

[270quest]

I remember in like 2016/17, you could buy a Dodge Ram Tradesmans 25/3500 with Cummins engine and it was around 40k...Bunch of my buddies bought them cause they were 10-12k less than the Ford/GM offerings and a couple got deals on them for 38-39k.....

That same truck today starts at 58-60k....and other that the way it looks and an 8 speed transmission, its basically the same truck.

15-20k increase in 7-8 years....

 

[mt terry d]

Capitalism does a pretty good job and levying costs against us all as well. I'd hate to see either unfettered government or capitalism.

If I want to trade a day's work to my neighbor for $100 why does that exchange
require anyone else's ( government) participation? What is wrong or bad about that?

 

[Dos Perros]

If I want to trade a day's work to my neighbor for $100 why does that exchange
require anyone else's ( government) participation? What is wrong or bad about that?

What does this have to do with used vehicle prices?

 

[maxx075]

What does this have to do with used vehicle prices?

The price of tea in China.

 

[3Esski]

My mom bought a Ford Explorer yesterday. 61k. Just crazy. I bought my Tundra in 16 for 34 and a 4runner a few months after for about the same. Pretty ridiculous.

 

[BackcountryIdaho]

I wish we could blame it on the boomers but that isnt realistic unfortunately.

U.S. population share by generation 2023 | Statista

In 2023, Millennials were the largest generation group in the United States, making up about 21.71 percent of the population.

www.statista.com

View attachment 782099

Don't mean to hijack, but demographic trends are very interesting to me. Do any of you look Peter Zeihan's materials? He seems pretty adamant that global populations are on the way down overall, especially China. It's interesting to ponder.

 

[mt terry d]

What does this have to do with used vehicle prices?

We've seen what unfettered government does. (Mandatory equipment and features that many people don't want but are forced to pay for driving all vehicle costs up)

I gave an example of unfettered capitalism which you stated you you'd hate to see which if applied to used vehicles would significantly drop their prices also.

I wonder what you believe is wrong or bad about that; why you'd hate to see that.

 

[tdhanses]

Corbland...depends on what you are buying. Back in March an F450 was 9% with a CS of 775 and 20% down. I paid all cash instead. I did finance my 2024 Kubota SVL 75-3 track loader for 75K at 0% for 48 months. Yeah, that was nice.

You couldn’t get a lower rate than 9% from your personal bank? I would never finance through a dealer, they get kick backs from their lenders and your own personal bank will always be best unless you can get the 0% deals or ones close to that although mfg financing.

 

[Dos Perros]

I gave an example of unfettered capitalism which you stated you you'd hate to see which if applied to used vehicles would significantly drop their prices also.

I wonder what you believe is wrong or bad about that; why you'd hate to see that.

I disagree...but anyway....did you think I said that all unfettered capitalism is bad?