Need a new car? Better have deep pockets.

[steelslaver]

I'm in Seattle. People are driving $75k+ vehicles, living in $3k apartments, and can't find $850k homes to buy.

Not everywhere is middle America.

And your streets are full of those who have no car, no apartment because they can't afford any of those even working 40 hours a week for $25 an hour

 

[rwsmith]

If this keeps up, which it will......

....maybe we will see the rise of public transportation here. And like everything else, it will rise in cost until you have to really consider whether you want to take a bus into town or not.

 

[glenwolde]

I think this may be true. Internal combustion powered vehicles (and parts therefor) will sell at a premium, provided the government doesn't ban sale of fuel as a final move to force everybody to drive electrics. ......

I don't know about that. As the number of ICE vehicles falls, consumption of fuel will fall. If fuel consumption volume falls refineries are less efficient. The price of fuel might climb pretty high. It all depends on how fast it falls and what the refiners plan to do about that. There could be a race to get out.

 

[RobertK3026]

Used prices are also through the roof.
A Jeep dealer near me does not want a used Jeep Wrangler on the lot, because it's used price value is so high no one is buying new.

 

[Telecaster]

I don't see EVs going anywhere (literally and figuratively). Consumers are realizing it's not the future, EVs suck. Uncle Sam is forcing automakers to make vehicles we don't really want, so what choice do they have?

 

[NFrameFred]

Chief conspiracy theorist here; step back and look at the big picture. Those with all the gold they get by selling their immortal souls (Soros, et alia) are pulling and always have pulled the strings, and aside from a few homicidal maniacal dictators occasionally muddying the water, the planned march toward socialism continues, but not for the "humanitarian" reasons the Leftists want to believe.

We see at every level of government, social institutions and the like, the chipping away at the standards and foundations the country was founded on which get in the way of the above mentioned agenda. Tear down the foundation and the institutions and strengths of the nation and watch it fall. The US has had its' run I'm afraid to admit, and wish it were not so. We came close in WWII but the control of the media and many of the major institutions were not yet then in control of these forces. That is no longer true. The advent of modern communication and surveillance technology has been a dictator's boon and precipitates the downfall. The will of the people, their independence and reliance on self and a Power higher than themselves must be broken, shattered, and ground into a state where these current 'men behind the curtain' offer what seems to be the only hope to the stubborn ignorance of the "common" man these days. Bread and circuses, major distractions . . . "watch what this hand is doing (while the other slits your throat)" . . . .

Apostasy, abandonment of principles, political corruption and the like are running the show; social unrest, rampant inflation and war are just part of the program. As far as the original premise of this thread, the cost of a car, the first time the US auto makers began pricing themselves out of the market the world was a different place and the Japanese and others stepped in to fill a need with products priced to be affordable (with mixed results, admittedly). They gave the US healthy competition and forced them to be more innovative and produce products at a price that could compete. The powers that be have more control now and won't allow that to happen again.

The ever hopeful hold out that, necessity being the mother of invention, that someone will soon discover a way to put Mr. Fusion modules in our cars or the aliens will reveal themselves and bequeath a miraculous new power technology that will solve all our problems. Guess I'm the cynic in that discussion . . . .



.

 

[biku324]

When I made $7 an hour, a low end new pickup was $5500. At $25 an hour (a common wage) a low-end new pickup will cost you $25k-$$30k.

Times change.

 

[llowry61]

I don't know about that. As the number of ICE vehicles falls, consumption of fuel will fall. If fuel consumption volume falls refineries are less efficient. The price of fuel might climb pretty high. It all depends on how fast it falls and what the refiners plan to do about that. There could be a race to get out.

I believe this is a long-term strategy to move to the little people being forced to public transportation.

Step one Create the problem - climate change then sell the solution to the faux problem.

Step one eliminates ICE vehicles and all ICE tools etc. and promote the EV as the replacement. Knowing that they will never be able to sustain the current level of individual travel.

Step two takes care of itself, the new EV's are so expensive the average joe can't afford it, the demand for electricity drives prices to levels that are not affordable, and infrastructure will require massive taxation of what electricity is available to create the infrastructure needed to support the new technology.

Finally, the goal is reached which is forcing everyone but the elites to public transportation, limiting the number of flights a person can take in their lifetime and on and on.

The one caveat for the elites will be that they need ICE for reliable travel etc. So, in effect, the average joe will be stuck riding buses trains, living in high density housing, etc. While the elites continue with the luxuries we once had.

I may be crazy, but I believe this is the strategy. The youth has been indoctrinated and will follow blindly because they believe the government has their best interest in mind. Hope I am wrong.

 

[LVSteve]

When I made $7 an hour, a low end new pickup was $5500. At $25 an hour (a common wage) a low-end new pickup will cost you $25k-$$30k.

Times change.

It won't be full size for that money. I just did a search with a 100 mile radius around my zip. There are just 20 (twenty) new pickups in that area under $30k, Ford Mavericks, Toyota Tacomas, and a solitary Hyundai Santa Cruz. The cheapest full size truck around here is a Ram Classic Tradesman at $32k.

 

[biku324]

Indeed. There were no less than full-sized trucks back when I made $7 an hour. Cheapest trucks were Ford 6 cyl with 3 on the tree.

 

[steelslaver]

When I made $7 an hour, a low end new pickup was $5500. At $25 an hour (a common wage) a low-end new pickup will cost you $25k-$$30k.

Times change.

When you were making $7 a hour it took787 hours to pay for a $5500 truck. At $25anhour it takes 1200 hours to pay for a $30,000 truck

 

[biku324]

Or 1,000 hours for a $25,000 truck. So; let's do math...from 1970 to 2023 is....let's see...53 years. Looks like inflation has run rampant (or not).

 

[rockquarry]

I always figured that if I could afford to make a car payment, I could afford to set aside the equivalent and pay cash for the next one.

You're right, of course, and aside from exceptional situations, that's too much logic in one dose for many folks to swallow.

 

[Dave_n]

When I lived in the city 20+ years ago, I saw lots of shiny clean Jeeps that had never seen a dirt road, driven by Smart Young Things.

British ex-pats here like LV Steve may know the term "Chelsea tractor", used to describe pristine Land Rovers being used to ferry posh kids around the city, Chelsea being a very upscale part of London.

Do not knock the LandRover. I learned to drive in 1956 on a diesel LR with a rag top. Years before the Chelsea Tractor vogue came along, though that LR would not have have passed muster. Dave_n

 

[coltle6920]

Yep, and you'd be penalized for it. No financing means no backhanders for the dealership, so all of a sudden the price gets firm.

I disagree. Unless the car dealer employees are being paid a healthy wage there's ALWAYS a deal to be made. When they go home they are no better off than you or I am. And unlike me I'd bet every one of them has bills to pay like a mortgage, putting food on the table and even a family to support.

If I walked into a dealership with cash in hand and offered what I thought was a reasonable price for both parties I guarantee I'd be driving out with a new vehicle. Money talks. Cash in hand talks louder.

You offer what you'll pay for a vehicle. The salesperson balks at first but says he'll run it by the manager. You sit there while the salesperson wanders off to who knows where. When he comes back he says he can only drop maybe $1k off the sticker price. Most people give in and take the deal. I'd get up and walk out without looking back. I don't need a new vehicle but he sure as hell has to sell them. I know their tricks.

 

[LVSteve]

I disagree. Unless the car dealer employees are being paid a healthy wage there's ALWAYS a deal to be made. When they go home they are no better off than you or I am. And unlike me I'd bet every one of them has bills to pay like a mortgage, putting food on the table and even a family to support.

If I walked into a dealership with cash in hand and offered what I thought was a reasonable price for both parties I guarantee I'd be driving out with a new vehicle. Money talks. Cash in hand talks louder.

You offer what you'll pay for a vehicle. The salesperson balks at first but says he'll run it by the manager. You sit there while the salesperson wanders off to who knows where. When he comes back he says he can only drop maybe $1k off the sticker price. Most people give in and take the deal. I'd get up and walk out without looking back. I don't need a new vehicle but he sure as hell has to sell them. I know their tricks.

That may be the market in CO, but there is plenty of evidence out there that dealers are penalizing cash buyers. There was even legislation enacted to drop the hammer on such practices, which it now seems a cross-party pair of senators want revoked. Some examples may be found in the links.

What You Should Know About Being A Cash Buyer At A Dealership

This one requires a subscription, but I think the headline is enough.

Car Dealerships Don’t Want Your Cash—They Want to Give You a Loan - WSJ

This Reddit thread describes a slew of dodgy practices.

Reddit - Dive into anything

 

[zeke]

In 2005 bought new Tundra. Commercial 4wd stripped down version with standard cab and 8 ft bed with I-force v-8. Still have it , but needs some serious up keep like exhaust and timing belt. Likely never buy another new vehicle, and just don't drive that much. It has roll down windows and no intermittent wipers.

 

[Bald1]

Not everyone with a big car payment on a “depreciating asset “ is making a mistake. Some people are car nuts. That’s their thing. They like and want a nice vehicle. They might ask why anyone would spend that much on a S&W. My wife drives an Audi Q7. A Ford Escape would get her where she needs to go. BUT she wants a Q7. She loves that thing. Same with her 2014 Camaro. People work hard and like to reward themselves.

 

[sigp220.45]

I was trying to nurse my beloved 2011 Taurus SHO to 200K miles, but it crapped out at 187K and went off to Ronald MacDonald House. I decided to buy a new car if I could stay under 30 grand.

I wound up with a shiny new 2023 Sonata with all the bells and whistles and a 10 year, 100,000 mile bumper to bumper warranty for just under the magic number. Four doors, 40 mpg on regular gas, and three years of oil changes included. Its not American, but the South Koreans have always been on our side.

I took a road trip with this little dummy and he chewed up a rear door panel, but I can’t blame Hyundai for that.

 

[Racer X]

And your streets are full of those who have no car, no apartment because they can't afford any of those even working 40 hours a week for $25 an hour

what I completely fail to understand, is if the living situation isn't working for you, why are you staying?

Grossing 4K a month, and you have a house-mate/partner whatever, two can live nicely here grossing 8K a month. Its all about the choices you make spending your money.

Living somewhere else makng 25% less, but the cost of living is half, why are you staying?