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Location: Danbury CT covering all of Fairfield County
2,636 posts, read 7,435,786 times
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Some prices didn't go up too much over the years. The difference wasn't that much for my current car and the car I had in hs was only $4500 for a model 18 years differences & my current one is much for advange & more fuel efficient. Do your homework and see what the difference the value is between lightly used & new.
Ok that’s one guy. Most people don’t have the time
If purchasing the low price advertised vehicle is ones goal. Then yes, they do have to find the time.
And yes, I have done this myself. This one though was not a vehicle in stock. I had to order it. And it took a 6 week wait. But I did get the vehicle at the low price advertised price.
New homes are crazy expensive so is rent and used homes i know this is a automotive fourm but come on people prices go up on everything, do you think other people think you’re home is really worth what it is appraised for. Vehicles do go up in price technology and safety standards cost as does everything else. I had a brand new 10 speed bike i bought in the 70’s i paid $100 and it was a American made schwin varsity not a Chinese built now look at the prices eBay is selling my old bike for over $400.
Yeah, and the reality is that you can still go out and buy a 10-speed for about a hundred bucks. Adjusting for inflation, we're actually paying less for most consumer goods. Considering inflation and advances in technology/performance, we're not paying much more real dollars for automobiles.
As for housing: In 1978, the average home price was just under $55,000, or just shy of $222,000 2018 dollars. Meanwhile, the current median home price is $255,000. Not a whole lot of real, upwards inflation there in 40 years.
Yeah, and the reality is that you can still go out and buy a 10-speed for about a hundred bucks. Adjusting for inflation, we're actually paying less for most consumer goods. Considering inflation and advances in technology/performance, we're not paying much more real dollars for automobiles.
As for housing: In 1978, the average home price was just under $55,000, or just shy of $222,000 2018 dollars. Meanwhile, the current median home price is $255,000. Not a whole lot of real, upwards inflation there in 40 years.
And in 1978 mortgage interest rates were around 10%. The cost to borrow money now is much much cheaper.
When I see many new cars at dealerships, just about every mid size family car starts at $27k for basic and typically priced around $33k and can be topped at $42k loaded.
Then Minivans now starts around $28k and usually $35k for mid-range then $44k for the loaded models.
What's even scary these days is that trucks start at $33k and a midrange one is around $39k and many different ways to get one up to the $50ks and even some in the $60k range.
A $20k car these days is a hatch back economy car.
This is not inaccurate. It was once true.
The articles may be a delayed observation on a phenomenon which has already suffered a correction. In my area, I've noticed the price of used cars has now risen in response to how favorable used autos ***were*** compared to new. There are many listings, but most private party sales are thousands above dealership blue book, with delusional sellers. The most common response "I've got 3 people coming to look at it today". Right - just like it was owned by an old lady who only drove it to church on Sunday.
- Your 1-model-year-old vehicle (which often turns out to be close to 18 months of ownership, given most release schedules) with 40,000 miles cannot be sold for the same price you bought it new. SORRY.
- Your 10-year-old Tahoe with 160,000 miles is not worth $20k. I don't care if you have maintenance records!
- Your 15-year-old (insert Japanese manufacturer name here) SUV with 200,000 miles is not worth "$8995". Self-impregnate.
The selection of used autos meeting basic criteria for a primary vehicle (passes inspection AND clean title) with a seller who is willing to sell within 10% of private party KBB actually comprise the vast minority of listings across several platforms.
There has not been a time when I've considered ONLY purchasing new cars, more that right now.
The articles may be a delayed observation on a phenomenon which has already suffered a correction. In my area, I've noticed the price of used cars has now risen in response to how favorable used autos ***were*** compared to new. There are many listings, but most private party sales are thousands above dealership blue book, with delusional sellers. The most common response "I've got 3 people coming to look at it today". Right - just like it was owned by an old lady who only drove it to church on Sunday.
- Your 1-model-year-old vehicle (which often turns out to be close to 18 months of ownership, given most release schedules) with 40,000 miles cannot be sold for the same price you bought it new. SORRY.
- Your 10-year-old Tahoe with 160,000 miles is not worth $20k. I don't care if you have maintenance records!
- Your 15-year-old (insert Japanese manufacturer name here) SUV with 200,000 miles is not worth "$8995". Self-impregnate.
The selection of used autos meeting basic criteria for a primary vehicle (passes inspection AND clean title) with a seller who is willing to sell within 10% of private party KBB actually comprise the vast minority of listings across several platforms.
There has not been a time when I've considered ONLY purchasing new cars, more that right now.
This right here.
When my last car was totaled in an accident two years ago, I was just about to purchase a new car after a couple of frustrating weeks of looking for a used car when one happened to fall in to my lap (I actually did get that "old lady just drove it to church on Sunday car," well lunch on Wednesdays but same difference. It was 8 years old with 11,000 miles). But, the reality is that so many of those used cars were overvalued (and the sellers refused to budge), that it was only going to cost a couple/few thousand more to buy new.
You still can find some better value in the used market, but it's a heck of a lot harder than it used to be.
When my last car was totaled in an accident two years ago, I was just about to purchase a new car after a couple of frustrating weeks of looking for a used car when one happened to fall in to my lap (I actually did get that "old lady just drove it to church on Sunday car," well lunch on Wednesdays but same difference. It was 8 years old with 11,000 miles). But, the reality is that so many of those used cars were overvalued (and the sellers refused to budge), that it was only going to cost a couple/few thousand more to buy new.
You still can find some better value in the used market, but it's a heck of a lot harder than it used to be.
The shortage of reasonable sellers combined with the crap you have to wade through to find them.
Diesel trucks (Southeast USA) on the used market are a JOKE! Endless garbage aftermarket modifications and asking 60% of new for 10 years / 200k. Even at $70-80k new, you're still better off than buying Travis's Superduty with ALL offroad (i.e. illegal) lighting, leveling kit, neons, and dual stacks. Guarantee it was all done by Travis or "his buddy" who also owned the inspection shop who let all that mess pass.
Used car sales are up because those who wanted but couldn’t afford a CUV or SUV are buying the lease and rental returns. Those that can only afford $20,000 choose to buy a used SUV or Crossover rather than a new compact for the same money. New vehicle sales are down overall not because they are unaffordable, but because they last so much longer, people hang on to them longer than ever before. Add to that some are waiting for the self-driving cars that they think are doing soon.
This may come as a surprise, but many people buy vehicles based on needs rather than the limits that they can afford. There are many people out there who only buy used vehicles 5+ years or older with 10x+ the wealth of your typical new car buyer. Another thing to remember is new vehicles are often financed by cash poor buyers who can't even come up with a decent down payment, while most used vehicles are bought with cash.
Yeah, and the reality is that you can still go out and buy a 10-speed for about a hundred bucks. Adjusting for inflation, we're actually paying less for most consumer goods. Considering inflation and advances in technology/performance, we're not paying much more real dollars for automobiles.
As for housing: In 1978, the average home price was just under $55,000, or just shy of $222,000 2018 dollars. Meanwhile, the current median home price is $255,000. Not a whole lot of real, upwards inflation there in 40 years.
You can’t get a American made Schwin 10 speed for a $100 my old on eBay is going for $400 mine had the chrome fenders.
Another thing to remember is new vehicles are often financed by cash poor buyers who can't even come up with a decent down payment.
And supposedly these cash poor folks . . . do proper maintenance ?
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