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OH, USA
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Posted: 5/16/2024 6:21:25 AM EDT
I’m lining up the finalize the purchase of a 2017 Tundra today, but I woke up wondering if I shouldn’t wait and see if the economy really tanks in the next 18 months and prices might finally come down. As-is, I’m getting a SR5 with 104k miles for $29k.
WWYD? |
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TX, USA
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Posted: 5/16/2024 6:25:50 AM EDT
[Last Edit: ARandomClaymore]
[#1]
You know something is coming:
Biden wins, the current shitshow continues. Trump wins, whatever is currently propping up the markets, economy, etc., those with the power, will let it all fail in order blame Trump and the Republicans. But I digress. I just sold a vehicle a few days ago for more than I paid for it. I'm pocketing a portion of the funds. The rest is going to Bitcoin. If you don't "need it", walk away. Especially, if you're financing anywhere between 7-10% APR. 
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Posted: 5/16/2024 6:27:02 AM EDT
[#2]
Obviously you don't need it if you can wait. Will you still have a job if it tanks that bad?
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Posted: 5/16/2024 6:29:07 AM EDT
[#3]
30k for a 7 year old truck with 100k on it? Holy shit
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TN, USA
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Posted: 5/16/2024 6:31:27 AM EDT
[#4]
Where exactly do you get your financial information from other than this lunatic asylum? Basing this decision on anything other than personal finances and personal needs is a fool's errand.
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PA, USA
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Posted: 5/16/2024 6:35:16 AM EDT
[#5]
I'm going to not be buying a used car with a 100000 miles for 30 Fucking thousand that's for sure..
The last $30000 car I bought was in 23, brand new. Also I kind of need a truck but only like 3 or 4 times a year.. So instead of paying retarded high prices for one... I rent them at U-haul for about a $150 a weekend.... So for about $600 a year, some years none, some years more. I have a pickup truck. |
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Posted: 5/16/2024 6:46:54 AM EDT
[#6]
Seems a bit WAY TOO FUCKING MUCH to me. Apples to oranges, but I bought a BRAND NEW '23 WRX in January for $32.5k.
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OH, USA
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Posted: 5/16/2024 6:46:58 AM EDT
[#7]
Quote HistoryOriginally Posted By LeadBreakfast: Obviously you don't need it if you can wait. Will you still have a job if it tanks that bad? My company should actually do better if things go south (though that’s unproven yet). I could wait, I already have. A year ago this same truck would have been ~$35k. I have kiddo #7 on the way though and 3x in the last week it would have been much nicer to have a truck rather than our van (e-350) that we keep having to take seats in and out of. And that need is only growing. |
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OH, USA
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Posted: 5/16/2024 6:51:21 AM EDT
[#8]
Quote HistoryOriginally Posted By FerrousDueler: Seems a bit WAY TOO FUCKING MUCH to me. Apples to oranges, but I bought a BRAND NEW '23 WRX in January for $32.5k. I get it. I’ve been watching the market for some time, this actually isn’t a bad deal for what the vehicle is. And it should easily run to 300k miles or more. Trucks are just expensive, no two ways about it. I’ve been driving a Camry for 13 years, and Chevy Cavaliers for 9 years before that, so nobody is going to feel this drop in mpg and increase in cost more than me. My needs have changed |
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Posted: 5/16/2024 7:01:27 AM EDT
[#9]
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CT, USA
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Posted: 5/16/2024 7:02:39 AM EDT
[#10]
Quote HistoryOriginally Posted By FerrousDueler: Seems a bit WAY TOO FUCKING MUCH to me. Apples to oranges, but I bought a BRAND NEW '23 WRX in January for $32.5k. If you check older Trucks 6 to 7 years old that's the going price . A new one stripped one starts at 50 K You go double cab with a few extras you are easily in the 60 to 70 K range |
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Posted: 5/16/2024 7:08:03 AM EDT
[#11]
IMHO interwebs clowns are always gonna blab about the impending crash or impending lock up or whatever in two weeks just to get clicks and make their living. There is no guarantee you will be here tomorrow. If you are in a position to get one, want it or need it, and it won't hurt anyone, go today. Life is short my friend. And precious. And we never know when our ticket will be punched.
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CT, USA
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Posted: 5/16/2024 7:08:40 AM EDT
[#12]
Quote HistoryOriginally Posted By Doz_TCC: I get it. I’ve been watching the market for some time, this actually isn’t a bad deal for what the vehicle is. And it should easily run to 300k miles or more. Trucks are just expensive, no two ways about it. I’ve been driving a Camry for 13 years, and Chevy Cavaliers for 9 years before that, so nobody is going to feel this drop in mpg and increase in cost more than me. My needs have changed What's crazy I bought 2500 HD precovid for 45 K double cab 4x4 work truck ... camper package Same truck now I can sell for 45 K used after driving it for 4 years 
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Posted: 5/16/2024 7:10:57 AM EDT
[#13]
Some other markets already seem to be tanking, yesterday I bought a JD compact tractor, loader, deck, tiller with 300 hours for less than half the cost of new.
There were several similar deals within an hour or two. Seeing the same with lots of recreation stuff like high end dirt bikes. People over bought during Covid and now the inflation is hurting them so they are unloading their toys. |
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Posted: 5/16/2024 7:12:37 AM EDT
[#14]
Our currency has been debased. The money supply is 40% bigger than before Covid. If the economy starts to suck again, we’re at the point when they’ll just print more money and give out more checks to people. You will get more units of currency but those units buy less.
All that is a way of saying, I don’t think the prices of things are going to come back down. |
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TX, USA
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Posted: 5/16/2024 7:13:12 AM EDT
[Last Edit: WoolRug]
[#15]
Quote HistoryOriginally Posted By Doz_TCC: My company should actually do better if things go south (though that’s unproven yet). I could wait, I already have. A year ago this same truck would have been ~$35k. I have kiddo #7 on the way though and 3x in the last week it would have been much nicer to have a truck rather than our van (e-350) that we keep having to take seats in and out of. And that need is only growing. Quote HistoryOriginally Posted By Doz_TCC: Originally Posted By LeadBreakfast: Obviously you don't need it if you can wait. Will you still have a job if it tanks that bad? My company should actually do better if things go south (though that’s unproven yet). I could wait, I already have. A year ago this same truck would have been ~$35k. I have kiddo #7 on the way though and 3x in the last week it would have been much nicer to have a truck rather than our van (e-350) that we keep having to take seats in and out of. And that need is only growing. Buy a 5x8 trailer. $2500 at most. Problem solved: next |
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Posted: 5/16/2024 7:27:02 AM EDT
[#16]
I would not buy a vehicle with 100K miles on it for $30K.
And if you have 7 kids, hate to say it but that’s minivan territory. |
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Posted: 5/16/2024 8:01:19 AM EDT
[Last Edit: sjm1582002]
[#17]
Used vehicle prices aren't at the absurdly high levels as they were but, are still historically very high.
Will the downward trend continue?   https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html |
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NC, USA
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Posted: 5/16/2024 8:17:06 AM EDT
[#18]
Quote HistoryOriginally Posted By FerrousDueler: Seems a bit WAY TOO FUCKING MUCH to me. Apples to oranges, but I bought a BRAND NEW '23 WRX in January for $32.5k. this is kind where i'm at. Better values out there and frankly I'd wait if it's an option. |
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Posted: 5/16/2024 8:21:34 AM EDT
[#19]
The market tanks Monday and the mortgage crisis is Tuesday. Credit card crash Wednesday and car market Thursday?
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USA
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Posted: 5/16/2024 8:30:00 AM EDT
[#20]
Originally Posted By Doz_TCC: I’m lining up the finalize the purchase of a 2017 Tundra today, but I woke up wondering if I shouldn’t wait and see if the economy really tanks in the next 18 months and prices might finally come down. As-is, I’m getting a SR5 with 104k miles for $29k. WWYD? Don't walk away, run. Start a business, write off a lease. Personal car? Buy a 2005 Camry and drive it till the wheels fall off. Seriously, between the cost of money being (relative to recent history) high, and thousands upon thousands of cars not selling at auction, why would you throw money away? |
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Posted: 5/16/2024 8:37:27 AM EDT
[#21]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit This |
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Posted: 5/16/2024 8:39:49 AM EDT
[#22]
How is a Tundra going to fit 8 people?
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USA
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Posted: 5/16/2024 8:46:17 AM EDT
[#23]
Quote HistoryOriginally Posted By bigairt: Our currency has been debased. The money supply is 40% bigger than before Covid. If the economy starts to suck again, we’re at the point when they’ll just print more money and give out more checks to people. You will get more units of currency but those units buy less. All that is a way of saying, I don’t think the prices of things are going to come back down. To your point, the car makers and dealers can only cut out so much fat before they can’t make any money. Sticker prices have gone up an insane amount but so have the car maker’s costs.  . Not that I have much sympathy for them, since both of will screw people when they can.
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Posted: 5/16/2024 8:48:12 AM EDT
[#24]
Quote HistoryOriginally Posted By Im_Awake: How is a Tundra going to fit 8 people? Put seats in the bed like the Subaru Brats had. |
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CO, USA
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Posted: 5/16/2024 8:52:35 AM EDT
[Last Edit: flynbenny]
[#25]
Quote HistoryOriginally Posted By Doz_TCC: My company should actually do better if things go south (though that’s unproven yet). I could wait, I already have. A year ago this same truck would have been ~$35k. I have kiddo #7 on the way though and 3x in the last week it would have been much nicer to have a truck rather than our van (e-350) that we keep having to take seats in and out of. And that need is only growing. Quote HistoryOriginally Posted By Doz_TCC: Originally Posted By LeadBreakfast: Obviously you don't need it if you can wait. Will you still have a job if it tanks that bad? My company should actually do better if things go south (though that’s unproven yet). I could wait, I already have. A year ago this same truck would have been ~$35k. I have kiddo #7 on the way though and 3x in the last week it would have been much nicer to have a truck rather than our van (e-350) that we keep having to take seats in and out of. And that need is only growing. How about a utility trailer for the van? I rent or borrow one the 2x-3x a year I need one since my SUV is tiny Edit: beat |
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Posted: 5/16/2024 8:52:55 AM EDT
[Last Edit: Im_Awake]
[#26]
Quote HistoryOriginally Posted By foxxnhound: Put seats in the bed like the Subaru Brats had. That would actually be kind of fun. I'm assuming OP is keeping the van as well. Just get a trailer for it. |
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Posted: 5/16/2024 9:01:09 AM EDT
[#27]
Quote HistoryOriginally Posted By ARandomClaymore: You know something is coming: Biden wins, the current shitshow continues. Trump wins, whatever is currently propping up the markets, economy, etc., those with the power, will let it all fail in order blame Trump and the Republicans. This - I would stay cash-rich right now; a) you might need the liquid $$$, b) whatever you want right now is gonna be cheaper in 6mos. Personally I'm holding off on large purchases in order to pick up vehicle & real estate bargains at the end of the year. |
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USA
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Posted: 5/16/2024 9:08:26 AM EDT
[#28]
Over 100k miles more than 5 years old and the price is 29k. Yes, you need to stop and wait.
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AZ, USA
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Posted: 5/16/2024 9:12:07 AM EDT
[Last Edit: jbisciotti]
[#29]
There won't be a crash unless there was an act of god worse than the pandemic. Lenders and auctions will trickle in cars preventing over supply to keep prices stable. Car value sites (kbb, nada) are mostly owned by the same parent company that also owned manheim. It's borderline monopoly the way it works.
I'm going from memory on the above but if you do some googling that's what you'll find out. There could be a dip, but if you're looking for the automotive equivalent of 2008, it ain't happening. |
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TX, USA
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Posted: 5/16/2024 9:23:49 AM EDT
[#30]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit Yep. I know the economy and car deals are fucked, but no way I am doing that deal!!! |
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MT, USA
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Posted: 5/16/2024 9:26:47 AM EDT
[#31]
Quote HistoryOriginally Posted By Aspida1776: Where exactly do you get your financial information from other than this lunatic asylum? Basing this decision on anything other than personal finances and personal needs is a fool's errand. A little harsh but well said. I agree. |
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OH, USA
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Posted: 5/16/2024 9:28:32 AM EDT
[Last Edit: Doz_TCC]
[#32]
We have a 15 passenger van. 2 of the benches are taken out currently, so it seats 8 with a huge trunk. When the next baby comes in a few months, 1 bench goes back in leaving enough room for a stroller and groceries. If we ever need to carry all the kids at once this is the vehicle we’ll use.
Reality is, my oldest is getting to where they can watch some kids, so the other car needs to be able to competently haul 3-4 kids, and a bunch of stuff. We’re getting way off topic on whether I personally can justify to y’all whether or not I need one. The real question was, wait for the bottom or not? I personally think inflation alone will stop the days of $40-45k out the door trucks from ever happening again. Maybe there’s a dip if Trump or Biden keel over suddenly, but otherwise money printer go brrrr until this ship explodes catastrophically in just a few weeks |
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Posted: 5/16/2024 9:30:47 AM EDT
[#33]
UAW wants to get paid. Auto prices ain't crashing unless, like someone said above, an act of God takes out everything. We still have money for Taylor Swift tickets and UFC pay-per-view and cigarettes. We ain't poor.
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Posted: 5/16/2024 9:30:53 AM EDT
[#34]
uh, 30k for a truck without a diesel with 100k miles.
you high? |
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NV, USA
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Posted: 5/16/2024 9:42:59 AM EDT
[#35]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit Well, good morning sunshine. Did you sleep well? |
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Posted: 5/16/2024 9:46:25 AM EDT
[#36]
Quote HistoryOriginally Posted By Aspida1776: Where exactly do you get your financial information from other than this lunatic asylum? Basing this decision on anything other than personal finances and personal needs is a fool's errand. When one goes onto cars dot com and looks at prices on will see a significant fall over the last 2 weeks (not effecting most Toyotas of course). It is very apparent with Frontiers. OPs question is not a bad one. |
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NV, USA
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Posted: 5/16/2024 9:51:31 AM EDT
[#37]
Quote HistoryOriginally Posted By Doz_TCC: I get it. I’ve been watching the market for some time, this actually isn’t a bad deal for what the vehicle is. And it should easily run to 300k miles or more. Trucks are just expensive, no two ways about it. I’ve been driving a Camry for 13 years, and Chevy Cavaliers for 9 years before that, so nobody is going to feel this drop in mpg and increase in cost more than me. My needs have changed You seem like you have taken a rational approach to all this. I and many millions of other people think the bottom is going to drop out soon. (post election) Whether it does or not I don't see any large improvements in this country. can you rearrange your vehicle situation to make it less impactful? Sell the van buy an even older truck for less? My 2 Toyota 4 runners are well over 200k miles and run like new. Toyotas last a long time if maintained. Look hard for an older truck. But you already know how to milk an older vehicle for time. If you can do it without debt, then I can see going for it. If you have to finance a lot to make it happen, I'd wait. You're going to need your cash for more critical things soon. |
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NV, USA
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Posted: 5/16/2024 9:52:40 AM EDT
[#38]
Quote HistoryOriginally Posted By Butternut: IMHO interwebs clowns are always gonna blab about the impending crash or impending lock up or whatever in two weeks just to get clicks and make their living. There is no guarantee you will be here tomorrow. If you are in a position to get one, want it or need it, and it won't hurt anyone, go today. Life is short my friend. And precious. And we never know when our ticket will be punched. Spoken like a beautiful serpent in a tree. |
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NV, USA
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Posted: 5/16/2024 9:59:47 AM EDT
[#39]
Quote HistoryOriginally Posted By bigairt: Our currency has been debased. The money supply is 40% bigger than before Covid. If the economy starts to suck again, we’re at the point when they’ll just print more money and give out more checks to people. You will get more units of currency but those units buy less. All that is a way of saying, I don’t think the prices of things are going to come back down. Yes and no. There is an example from the late 70's early 80's that we can look at, but times "were different" then. It took a while and it hurt some but America recovered in spades. However. We are further down the hole than any nation is history with demands and obligation (that will have to be broken) than ever before. I hate the doom and gloom-er attitude but no one has offered a rational explanation of how all this gets fixed without a lot of people dying from something that has spun out of control. I think newer(ish) vehicles will be a luxury no one but the top 1% will be buying for quite a while. |
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SC, USA
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Posted: 5/16/2024 10:07:55 AM EDT
[#40]
Quote HistoryOriginally Posted By AbleArcher: The market tanks Monday and the mortgage crisis is Tuesday. Credit card crash Wednesday and car market Thursday? Can you be specific about which week and year please?
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Posted: 5/16/2024 10:15:32 AM EDT
[#41]
not sure but just paid cash two weeks ago for a 2024 4runner TRD sport ($47k OTD) using costco auto buying program.
i kinda needed new vehicle as my lease on a 2021 X3m comp was over and i wasn’t about to buy that suv. |
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PA, USA
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Posted: 5/16/2024 10:19:00 AM EDT
[#42]
Quote HistoryOriginally Posted By _Matt_: Can you be specific about which week and year please? Quote HistoryOriginally Posted By _Matt_: Originally Posted By AbleArcher: The market tanks Monday and the mortgage crisis is Tuesday. Credit card crash Wednesday and car market Thursday? Can you be specific about which week and year please? Considering that when they released the inflation report, all three indicators hit all time highs yesterday. Somebody’s taking out of their backside. |
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Posted: 5/16/2024 10:28:12 AM EDT
[Last Edit: carcrazysammy]
[#43]
Originally Posted By Doz_TCC: I’m lining up the finalize the purchase of a 2017 Tundra today, but I woke up wondering if I shouldn’t wait and see if the economy really tanks in the next 18 months and prices might finally come down. As-is, I’m getting a SR5 with 104k miles for $29k. WWYD? That price is insane. Used car prices are already headed down. The economy is headed down. Everyone can see it. That truck will be $20,000 in a year unless FJB floods the poors with stimulus. |
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MO, USA
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Posted: 5/16/2024 10:28:42 AM EDT
[#44]
Originally Posted By Doz_TCC: I’m lining up the finalize the purchase of a 2017 Tundra today, but I woke up wondering if I shouldn’t wait and see if the economy really tanks in the next 18 months and prices might finally come down. As-is, I’m getting a SR5 with 104k miles for $29k. WWYD? If you are waiting for "the crash"...you will be waiting forever. Just find something you like/want...and buy it. Stuff is never going to get much cheaper. 
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Posted: 5/16/2024 10:30:41 AM EDT
[#45]
We have three years of the new car pipeline being screwed up with minimal production. Anyone that thinks used vehicle prices are going to crash, short of a major depression, is irrational. Boomers still talk about cash for clunkers screwing up the used car pricing structure today. I'm bullish on used car prices and think we will see them rising between inflation, and lack of the vehicles in the 3-5 year new car trade cycle. Add in new car inflation, and that trade cycle will most likely be lengthened due to new car sticker shock. (My 2021 GMC that I bought for 56k sticker is now $74K sticker).
2026-2030 should see "crazy" used prices. Late model used will be expensive which will bring up 3rd owner used prices. The poor people are going to have a hell of a time buying a car in the near future. |
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WA, USA
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Posted: 5/16/2024 10:35:19 AM EDT
[#46]
everything but high tech toys, lithium batteries and solar panels is going to get more expensive in the near future.
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USA
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Posted: 5/16/2024 10:38:09 AM EDT
[#47]
In this thread we trash the OP because his purchase does not fit our own situation, we inject our own opinions on somewhat related topics, we make stupid comparisons about what we bought in a completely different economic situation and lastly we overreact with emotional arguments.
Does that sum it up? GD has definitely got their thinking caps on today. |
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Posted: 5/16/2024 10:40:14 AM EDT
[#48]
Quote HistoryOriginally Posted By _Matt_: Can you be specific about which week and year please? Quote HistoryOriginally Posted By _Matt_: Originally Posted By AbleArcher: The market tanks Monday and the mortgage crisis is Tuesday. Credit card crash Wednesday and car market Thursday? Can you be specific about which week and year please? It's always next monday. |
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Posted: 5/16/2024 10:44:48 AM EDT
[#49]
Quote HistoryOriginally Posted By Jackslack: Spoken like a beautiful serpent in a tree.  Each day is a gift - an almost incomprehensible blessing. And we've already won the world lotto being born the US. |
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Posted: 5/16/2024 10:46:29 AM EDT
[#50]
I havent priced trucks but Holy shit that sounds pricey... Also.. 7 FKN KIDS??? You know what causes this right?
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