In case you haven’t noticed the used car market is completely 17ed.

[BoDawg.sixpack]

Those new Tahoe's and Yukon's are becoming a much more common sight

And they are routinely priced about 70k dollars. Inflation or not Americans still love the latest and greatest toys. Meanwhile only 17% of adults say their wages have kept pace with inflation. The Labor Department's employer survey has shown an increase of 1.7 million jobs in the past four months, while the household survey shows 168k fewer Americans are working. New claims for jobless benefits have gone up >50% since March. The personal finance sub index of the Economic Optimism Index last checked in at 46.5, which was 1.2 points higher than July's all time record low reading.

Some vehicle repos may do two things: help relieve prices in the used car market while forcing Americans into some more affordable vehicles. Something has got to give somewhere because inflation has wiped out all the wage increases since 'rona.

 

[mstateglfr]

And they are routinely priced about 70k dollars. Inflation or not Americans still love the latest and greatest toys.

I dont think I will ever get to a point where I stop looking at all the $60k plus vehicles around and wonder where all the money is coming from. I guess my mind is stuck in 2000 pricing still. I will be shaking my fist and yelling at kids soon enough.

 

[dorndawg]

Give her a $300 to $500 Uber allowance and skip the car, insurance, gas and other headaches of ownership.

Used uber lately? If not, $500 doesn't go as far as you'd think. In my experience, rides that used to go for $10-15 are now $30-40.

 

[kired]

We splurged and bought my wife a new Palisade a few weeks before covid hit - lucky timing I guess. But I haven't owned a vehicle for myself with less than 100,000 miles in probably 15 years. The truck I owned in college had ~85k on it when I graduated in 2004. Everything else I've owned had 150k+ on it when I got it. Never had any major problems from any of them (other than that truck I still own and try to drive maybe 5 times a year).

As a teenager I always dreamed of having the coolest mustang or chevy truck. Couldn't wait to have enough money to buy something nice for myself... but apparently the adult me doesn't give a **** what I drive.

 

[GloryDawg]

Tell the truth. You don't want to sell it because you like to bench press it with the garage door open for all the neighbors to see.**

Live shot of GloryDawg driving his wife's car...

View attachment 24863

You bastard, you owe me a key board. My wife use to joke I was like Yogi Bear on a scooter driving that thing. That photo made my day.

 

[Mobile Bay]

Just out of curiosity I went to Carmax and found a nearly identical to mine 2014 Tacoma with 87k miles. $27.998. Then I went to Toyota's website and priced out a 2023 model very similar to mine. $28,924 (MSRP) This is beyond absurd.

 

[thatsbaseball]

Don't still have any kids at home but I'm same boat as far as wondering where in the hell is all the money coming from. People are driving some really expensive vehicles and I know many of them have got to owe a **** ton of money on them.

 

[operch]

My wife ordered an SUV in June of last year. The dealership claims the build hasn’t been pulled. She bought another vehicle since ordering, but I was hoping to trade it in when the ordered vehicle builds and ships.

They must be building it back, Better.

 

[johnson86-1]

I dont think I will ever get to a point where I stop looking at all the $60k plus vehicles around and wonder where all the money is coming from. I guess my mind is stuck in 2000 pricing still. I will be shaking my fist and yelling at kids soon enough.

Have this conversation with my wife all the time. We in theory make pretty decent money but seeing what other people spend on cars, houses, eating out, etc. makes me wonder whether all the income statistics are badly off.

 

[rynodawg]

I know the Palisades are supposed to be nice, but I refuse to ever pay MSRP for a Hyundai and I drive one now.

And for anyone that has not had a teen driver yet, start saving now for the increased insurance bills, and PRAY they never get in any accidents (whether it’s their fault or not). Just parking often around other teenagers increases their risk, we had $6K damage once from when daughter’s car was hit while unattended in the high school parking lot.

 

[dorndawg]

I dont think I will ever get to a point where I stop looking at all the $60k plus vehicles around and wonder where all the money is coming from. I guess my mind is stuck in 2000 pricing still. I will be shaking my fist and yelling at kids soon enough.

Man no kidding. This thread led me to go look at new Tahoes/Silverados. YIKES. Might go wax my paid-for 2018 Silverado & treat it real nice.

 

[engie]

My tundra value has dropped $7k in the last 7-8 months. Still $8k over what I have in it. That said, Toyota has supposedly figured out the supply bottle necks and expect to produce their full allotment of vehicles this year, so everyone else can’t be terribly far behind. I’d like to upgrade but not going to owe $40k on a new half ton truck when mine has had zero problems.

 

[Yeti]

You might be surprised but people still see cars at status symbols. I know lots of folks that need to put more in savings and 401k and less on a car note ……but it’s like social media they are projecting…..I drive a Ford btw

 

[PooPopsBaldHead]

Have this conversation with my wife all the time. We in theory make pretty decent money but seeing what other people spend on cars, houses, eating out, etc. makes me wonder whether all the income statistics are badly off.

I am blown away by the sheer number of people my age (early 40's) that still get help from their parents, free vacations, etc. Must be nice.

 

[PooPopsBaldHead]

You might be surprised but people still see cars coolers as status symbols. I know lots of folks that need to put more in savings and 401k and less on a car note ……but it’s like social media they are projecting…..I drive a Ford Z71 Tahoe btw

FIFY so username checks out.**

 

[Shmuley]

Whatever you turn over to a teenage female, be sure you are okay with the insurance situation. Because there will damn sure be a claim coming. Book it.

 

[Dawgbite]

We have a 1996 Mazda Miata sitting in the garage with only 100K miles. Bought new for my wife in 1996. We were offered 16K for it a few weeks ago. Wife turned it down.

I’m gonna need to know who made that offer. I’ve got a 97 BMW Z3 with less than 45000 miles. Someone offer me $16000 that ***** is gone because I’m running out of functioning cassette tapes to play in it.

 

[Dawgbite]

Good luck getting a Crosstrek. For years the wife has driven AWD Mercedes, pre Covid on a whim she sold hers and bout a RWD Mercedes. She hates it so she’s been looking for about a year. Every MB dealer want $5-10 k over sticker
so she drove all the Subarus and decided on a Crosstek. Nobody within 300 miles can get what she wants. They tell her that the US made Subarus, Accent and Outback are readily available but the Japanese cars, Crosstek and Forrester are not available.

 

[Yeti]

Reading this I can’t help but think how this would play out on an Ole Miss board

i can’t get over how cheap used cars are. I just went and bought a loaded Mercedes. I called Daddy at the insurance agency and he told me go for it he would help. BTW daddy just got a great rate on his second mortgage refinance and I just found a great deal where I moved the balance from my capital one card to a bank one card at zero percent for 3 months! Hotty Toddy!

 

[archdog]

I have a 2008 Tundra I will sell for 7500. Passenger door doesn’t open, but mechanically it is in really good shape. Never an issue. 220k miles.

 

[mstateglfr]

Have this conversation with my wife all the time. We in theory make pretty decent money but seeing what other people spend on cars, houses, eating out, etc. makes me wonder whether all the income statistics are badly off.

We had kids young compared to our friends/work peers and so I get that some money they have compared to us could be from the early few years of adulthood.
But we look around all the time and ask each other wt17 are they doing or are we not doing? We have higher earnings than most too.
Oh well.

 

[mstateglfr]

Good luck getting a Crosstrek. For years the wife has driven AWD Mercedes, pre Covid on a whim she sold hers and bout a RWD Mercedes. She hates it so she’s been looking for about a year. Every MB dealer want $5-10 k over sticker
so she drove all the Subarus and decided on a Crosstek. Nobody within 300 miles can get what she wants. They tell her that the US made Subarus, Accent and Outback are readily available but the Japanese cars, Crosstek and Forrester are not available.

The local dealer has 12 crosstreks delivering in a couple weeks. They are all the highest trim level and while I don't need that, it's the same level as what we have on our '19 Outback so I won't complain.

Your comment on length of time for the car to be available is what we came up against for hybrid compact SUVs. A year or more at local dealers and a couple weeks from dealers 300mi away in Chicago.



My state can't even get multiple Hyundai EVs. Hyundai won't sell them here- local dealers don't even have access to them. They are focusing on states with emissions standards and blocked access to all other states. It cant help that my state continually pushes ethanol.

 

[paindonthurt]

You don’t understand the pulse of 70% of America then

 

[paindonthurt]

Serious question.

Rumors and articles of production continuing with new cars and parking lots full of new vehicles without chips.

At some point that bubble has to pop right? Supply will exceed demand by a lot.

 

[DesotoCountyDawg]

My dad is trying to find a new Duramax and it’s painful.

 

[paindonthurt]

Inflation is great right?

 

[birdawg]

I have a client that's the largest wholesale auto auction in the US and I get to peek under the hood at their data. Wholesale prices seem to be softening recently, but nowhere near pre covid. There are fewer used cars on the market bc large rental car companies are keeping their cars longer bc they can't get new ones or don't want to pay up for them. It's a mess out there.

 

[katfsh]

We have been shopping around possibly to trade my wife’s 1.5 yo Toyota suv. Dealerships are offering trade value within 2k of what we gave for it. So hoping to take advantage of the used market before it falls. The local Toyota dealer is starting to get more regular shipments.

 

[horshack.sixpack]

What kind of shape is it in? Is it a manual?

 

[PhredPhantom]

Probably not what you’re looking for, especially for a teenage daughter, but I just looked on the Tesla website and you can get a NEW Tesla Model S Plaid with *all* the options delivered in August-September 2022 time frame. That’s the end of this month or the early part of next month. One sticking point could be that it is $153,990 before taxes, title, and tag. At least you don’t have to worry about gas prices, though, and it’s a pretty quick delivery time. The car itself is pretty quick, too.

 

[horshack.sixpack]

You are doing something right. I recall financing a vehicle a few years ago and the finance guy was blown away at my debt to income. He said he was used to financing people who could barely afford what they were buying and had debt to their eyeballs. Mentioned Reunion specifically as a place with many people in over their head. This was unprompted exchange.

 

[fang]

Board demographics showing thru with this thread……

 

[T-TownDawgg]

Never thought I’d say this, but I’m where glfr is.
My first house cost 40k. That seems to be my mental line in the sand for vehicles. I’ve been yelling at kids and shaking my fist at traffic for a bit.

The other thing that sticks in my crawl, is these high dollar complicated vehicles don’t seem to be any more reliable than some 20-30 year old cars. And when these cars break, bend over. Lady at work just spent over 3k to get her HVAC screen and computer replaced. Stupid engineers.

17.
That.

Give me toggle switches and the old knob to slide left-right for temp.

 

[af102]

Uber has an age minimum from users, so you can't even create an account until you are 18.

 

[dogmatic]

That is a hell of a good idea. If we lived somewhere with a robust Uber/Lyft supply, I'd do that in a second.

 

[af102]

As someone who lives "in the city" (Atlanta) with access to decent public transit, works from home, and can feasibly walk/bike to many things we need, we are discussing selling our second car that rarely gets used and using the money to buy a nice cargo E-Bike for school drop-offs and grocery pickups. I'll come out ahead selling a 2012 Mazda3 with 100k miles, buying a premium E-Bike for ~$7k, and using the money I save on gas/insurance for the occasional Uber.

 

[dorndawg]

Inflation is great right?

Why do you think it's great?

 

[dorndawg]

As someone who lives "in the city" (Atlanta) with access to decent public transit, works from home, and can feasibly walk/bike to many things we need, we are discussing selling our second car that rarely gets used and using the money to buy a nice cargo E-Bike for school drop-offs and grocery pickups. I'll come out ahead selling a 2012 Mazda3 with 100k miles, buying a premium E-Bike for ~$7k, and using the money I save on gas/insurance for the occasional Uber.

An E Bike is 7 grand? 7000 American dollars?!

 

[mstateglfr]

An E Bike is 7 grand? 7000 American dollars?!

They are like regular bikes or cars- cost is a wide spectrum.

You can get an ebike for $500 or one for $9000.
Same with a bike- you can get one for $120 or $10000(and more).

$7,000 will get you a well designed, well made, and reliable ebike.

 

[CochiseCowbell]

An E Bike is 7 grand? 7000 American dollars?!

Even with the optional Blood Pressure Monitor, this bad boy is only $4,000.