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Posted: 5/16/2024 10:48:30 AM EDT
[#1]
Quote HistoryOriginally Posted By OverScoped: 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. My brother buys used cars and runs then to the point they need to be retired to the junkyard, but he sells them. Then just buys another and repeat. you would think he would prefer a truck with the things he does, but he has an old trailer and puts a hitch on every car. At first I thought he would be better with a truck, but a trailer is so much better. At least for him. |
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Posted: 5/16/2024 11:19:40 AM EDT
[#2]
Quote HistoryOriginally Posted By APBullet: My brother buys used cars and runs then to the point they need to be retired to the junkyard, but he sells them. Then just buys another and repeat. you would think he would prefer a truck with the things he does, but he has an old trailer and puts a hitch on every car. At first I thought he would be better with a truck, but a trailer is so much better. At least for him.  |
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FL, USA
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Posted: 5/16/2024 11:25:13 AM EDT
[Last Edit: jsnappa]
[#3]
Save up 30% of your 1 year income and pay cash when the vehicle you want/need shows up. Repeat every 10-14 years.
Retire a millionaire at 59.5. |
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Posted: 5/16/2024 11:32:05 AM EDT
[#4]
i paid 45k for my 2019 SR5 tundra brand new and that was probably a bad deal then. now im seeing them listed a couple years old with 20-30k miles for more than i paid for the new one.
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Posted: 5/16/2024 11:53:00 AM EDT
[#5]
Arfcom GD has been predicting an imminent crash since before we knew what covid was.
Everything from cars to real estate is going to implode any day now... but years go by, and it continues to not happen. Sure, the economy isn't sunshine and daisies, and there's plenty of cause for concern like inflation and the debt, but there's a limit in the extent to which you should let the never ending doomerism influence your life decision making. If buying a vehicle means your family is going to be living paycheck to paycheck, you probably shouldn't do that. But if your employment is secure and you have good savings, it's probably not a decision that's going to truly hurt you. Now, would I spend that kind of money on that truck? I don't think so. But that doesn't seem to be the primary question here. |
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USA
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Posted: 5/16/2024 11:57:32 AM EDT
[#6]
Quote HistoryOriginally Posted By jbisciotti: 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. Autos can't maintain value, it's silly and unsustainable that they increased. There's too much inventory, rising auto ownership costs and decline of disposable income for there not to be a crash. |
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FL, USA
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Posted: 5/16/2024 12:09:12 PM EDT
[#7]
Quote HistoryOriginally Posted By Panta_Rei: Autos can't maintain value, it's silly and unsustainable that they increased. There's too much inventory, rising auto ownership costs and decline of disposable income for there not to be a crash. The number of people who believe their daily driver is a financial asset is a good indicator of the unsustainable state of the auto market. “I bought this truck for $85k, put $15k down, made payments for 18 months and now I can trade it in for $80k on another 60 month contract at 7%. It’s like free money. My recent 4% raise puts me at $65k/year, so I can easily afford it.” |
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Posted: 5/16/2024 12:12:21 PM EDT
[Last Edit: Osprey61]
[#8]
Quote HistoryOriginally Posted By Doz_TCC: ... 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 Holy hell, WTF? My advice would be to get off GD and stay off it for a while. You're listening to, and apparently believing, people on this board who fantasize about their pseudo-military "preps" playing out in a post-apocalyptic America. The probability of a catastrophic collapse is staggeringly low, and it would take a disaster of biblical proportions to bring it about. In the mean time, nobody is getting their credit card debt forgiven. The situation was worse, a lot worse, in the 70s with nearly weekly bombings that are now almost forgotten, and interest rates that peaked at just over 18% in the early 80s. Remember the Arab Oil Embargo? The Cuban Missile Crisis? The assassinations of JFK and MLK? We've had nine recessions since 1960, three of them considered major and relatively recent. 9/11? The Antifa and BLM riots? How about a presidential election that half the country now believes was corrupted? Yet here we are now a half century later, still going to work, paying mortgages and complaining about taxes. With seven kids I don't blame you for wanting a nice truck, but prices will eventually correct. In fact, it's already (modestly) begun. Before you do anything rash, I suggest you read this. I know factual due-diligence goes against the grain here, but it's a fairly even-handed review of the 2023 car market and expectations for 2024. Cox automotive forecast: a return to normalcy |
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Posted: 5/16/2024 12:25:44 PM EDT
[#9]
Quote HistoryOriginally Posted By Panta_Rei: Autos can't maintain value, it's silly and unsustainable that they increased. There's too much inventory, rising auto ownership costs and decline of disposable income for there not to be a crash. Quote HistoryOriginally Posted By Panta_Rei: Originally Posted By jbisciotti: 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. Autos can't maintain value, it's silly and unsustainable that they increased. There's too much inventory, rising auto ownership costs and decline of disposable income for there not to be a crash. It makes more sense when viewed in context. There are some big reasons why vehicle prices have increased so much. 1) Inflation. This one is simple. A new Camry is $30k for roughly the same reason a crap tier fast food cheeseburger is $3 instead of $1. 2) A significant shortage in new vehicle production. We saw this during the Great Recession, and we saw it again during the pandemic.   Millions of vehicles that should have hit the market as new cars never did creating a lasting shortage condition that impacts the supply:demand balance. The shortage from the Great Recession has basically followed those years for the entire lifecycle of the cars, and the pandemic shortage will do the same. 3) The types and configurations of vehicles that new car buyers actually buy are significantly more expensive than they once were. In the not too distant past, the most common vehicles Americans bought were midsize sedans, minivans, and extended cab pickups. Most of these had 2WD, under or around 200hp, and had little more than cloth seats, power windows, and a CD player. Today, midsize sedans have been replaced by compact CUVs, minivans have been replaced by big 3 row CUVs, and extended cab pickups have been replaced by crew cab pickups. Nearly all of these are AWD/4WD, they make anywhere from 200-400+ hp, and they're loaded up with ventilated leather seats, panoramic moon roofs, multi-zone climate control, and all kinds of stuff. The American car companies have completely quit building sedans entirely, only 4 companies are building minivans, and extended cab trucks have less than maybe 10% market share. All of these changes come with costs, and when most of the new vehicles being sold are in these expensive configurations, that trickles down to the used market. The Dave Ramsey types that want to buy a 10 year old, basic, cloth seat beater are going to have a harder time finding those cars because few were sold that way to begin with. Put all that together, and you get a big increase in used car prices, and there's little room for that to change unless a big shift happens in new vehicle sales. |
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Posted: 5/16/2024 12:33:05 PM EDT
[#10]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit That was my reaction. Maybe just buy a trailer for now and wait to see if the economy tanks. |
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USA
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Posted: 5/16/2024 12:54:11 PM EDT
[#11]
New and used vehicle pricing has been sustained by two things:
1) Irresponsible fiscal policy 2) Cash for clunkers While the impact of Cash for clunkers has likely diminished with time, the supply of older vehicles is still tight. As the economy feels the impacts of slowdown and inflation, the prices of new cars will stop skyrocketing. I think the prices on new cars will moderate. 80k+ vehicles are going to sit on the lot when people can't afford them, and eventually deeply discounted. People will keep their cars longer. The used car market will soften a little, but not as much as the new car market. |
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MN, USA
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Posted: 5/16/2024 1:05:42 PM EDT
[#12]
Yeah I don’t think I’d buy a truck with 100k miles for 30k lol. My 04 dodge has 117k miles and I’ve been watching vehicles for a year. Just waiting for a killer deal or market to drop out. I also just passed my general contractor exam to get licensed so I have a good write off for the next purchase. I’m in no rush since my truck runs great. Using it to go camping 4 hrs away tomorrow. I just smile to everyone trying to look like the jones’ and I paid 9k cash for it 5 years ago.
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Posted: 5/16/2024 1:09:05 PM EDT
[#13]
I just recently went through the same decision/thought process. I ended up realizing that there is no definitive data that this inflationary market and high prices are going to change any time soon. I had a hard time stomaching a $60k truck. Yet at the same time, my previous truck was selling at the same price I bought it for in 2019 (private party). I needed the HD, and would be pissed if I waited a couple more years to pay $75k for the same HD truck.
I ended up getting a trade in offer 4k less than I bought my old truck for. I drove that truck for 70k miles. 5 Cents a mile + normal maintenance/gas costs, and I didn't have to spend $3k getting the paint chips and dents fixed. Interest rate on my new truck is 6.5% and it was $3k under blue book. I don't think I did too bad, and I freaking love the new truck. It's going to get worse before it gets better. Enjoy it while you can, buy the truck. |
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Posted: 5/16/2024 1:10:51 PM EDT
[#14]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit This. NO WAY I would make that buy. |
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Posted: 5/16/2024 1:17:25 PM EDT
[#15]
Quote HistoryOriginally Posted By Im_Awake: How is a Tundra going to fit 8 people? Long bed? |
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AZ, USA
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Posted: 5/16/2024 1:19:40 PM EDT
[Last Edit: jbisciotti]
[#16]
Quote HistoryOriginally Posted By Panta_Rei: Autos can't maintain value, it's silly and unsustainable that they increased. There's too much inventory, rising auto ownership costs and decline of disposable income for there not to be a crash. I'm not saying autos will maintain value. Loan default rates are increasing, but banks won't liquidate inventory because that will kill prices too fast and they will lose more money. The cost of new cars has risen dramatically which means used cars go up too, paired with an inventory shortage is why things got stupid (high prices) from 2020-2023. Now in 2024 we are starting to see rebates and 0% interest on certain new car models and over time(years) we will slowly get back to rates and rebates pre 2020. It will not be a crash though. Edit $5k for a beater is the new $2k beater. The $5k beater standard from 5 years ago are now $8k. It's just reality at this point. |
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Posted: 5/16/2024 1:24:38 PM EDT
[#17]
Quote HistoryOriginally Posted By Torf: New and used vehicle pricing has been sustained by two things: 1) Irresponsible fiscal policy 2) Cash for clunkers While the impact of Cash for clunkers has likely diminished with time, the supply of older vehicles is still tight. As the economy feels the impacts of slowdown and inflation, the prices of new cars will stop skyrocketing. I think the prices on new cars will moderate. 80k+ vehicles are going to sit on the lot when people can't afford them, and eventually deeply discounted. People will keep their cars longer. The used car market will soften a little, but not as much as the new car market. Cash for Clunkers was a dumb as hell program, but it was a statistical non-event. There were only 680k transactions, and these were vehicles that were worth less than or about $4,500 in 2009, so they were near end of life anyways. For context, there were over 250M registered vehicles on the road at the time, so we're talking about 0.2% of those vehicles. Meanwhile, due to economic conditions, we lost easily 15+ million new vehicle sales during the recession. That's a much more significant number, and these are vehicles that were never available as 5 year old used cars in 2014, 10 year old used cars in 2019, or 15 year old used cars today. Most of those cars would still be on the road today, but they were never built or sold. |
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OH, USA
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Posted: 5/16/2024 1:49:51 PM EDT
[#18]
Quote HistoryOriginally Posted By Osprey61: Holy hell, WTF? My advice would be to get off GD and stay off it for a while. You're listening to, and apparently believing, people on this board who fantasize about their pseudo-military "preps" playing out in a post-apocalyptic America. The probability of a catastrophic collapse is staggeringly low, and it would take a disaster of biblical proportions to bring it about. In the mean time, nobody is getting their credit card debt forgiven. The situation was worse, a lot worse, in the 70s with nearly weekly bombings that are now almost forgotten, and interest rates that peaked at just over 18% in the early 80s. Remember the Arab Oil Embargo? The Cuban Missile Crisis? The assassinations of JFK and MLK? We've had nine recessions since 1960, three of them considered major and relatively recent. 9/11? The Antifa and BLM riots? How about a presidential election that half the country now believes was corrupted? Yet here we are now a half century later, still going to work, paying mortgages and complaining about taxes. With seven kids I don't blame you for wanting a nice truck, but prices will eventually correct. In fact, it's already (modestly) begun. Before you do anything rash, I suggest you read this. I know factual due-diligence goes against the grain here, but it's a fairly even-handed review of the 2023 car market and expectations for 2024. Cox automotive forecast: a return to normalcy See guys, this is how you post. Fair dose of reality and some good analysis to back it up. What I meant by exploding in a few weeks is like a Black Tuesday event. The whole thing will be appearing to work, until it doesn’t. Someone mentioned earlier saving 30% of 1 year income, this vehicle would be only be ~19% of 1 year. Put another way, I have more money than time, so anything (like a stupid reliable vehicle) that preserves my time is worth it. |
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Posted: 5/16/2024 1:52:07 PM EDT
[#19]
Remember all those doomers who sat out of the market for the past 3 years because OMG DOOM CRASH DOOM DOOM! They ended up losing out on something like 30% gains.
I wouldnt bank on any doom at this point and just move forward and buy what you need. Its the same VERY played out doom tune people loike to circle jerk to much thsat never real;ly comes to fruitition. Best thing you can do is dial the radio to a new staion. Doom sells, but it doesnt happen. |
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SC, USA
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Posted: 5/16/2024 1:58:06 PM EDT
[#20]
I know markets are very localized, but that sounds like a terrible deal. I would wait at least for something better.
FWIW, I was looking at 2015-2021 Tundra SR5, double cab, 2WD under 100k miles and am seeing better deals pop up at mid-$20k range |
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VA, USA
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Posted: 5/16/2024 2:00:52 PM EDT
[#21]
You're looking at the wrong brand OP, I can get a ~130k mile diesel for 18-20k
Toyotas have been ridiculously priced for awhile now, still riding everyone's love for how they used to be built. I don't see a crash per se, more a steady return to normal (pre-Covid) pricing. And people are stretched way too thin financing toys and new cars. I'm buying a used truck in a couple months and hoping to pick up a compact tractor by the end of this year |
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Posted: 5/16/2024 2:32:42 PM EDT
[#22]
Quote HistoryOriginally Posted By Doz_TCC: Someone mentioned earlier saving 30% of 1 year income, this vehicle would be only be ~19% of 1 year. Put another way, I have more money than time, so anything (like a stupid reliable vehicle) that preserves my time is worth it. If this is the case, have you considered why you are looking at a mid-life used vehicle? For the purposes of this conversation, let's say the life expectancy of a pickup truck is 20 years or 300k miles, whichever comes first. Certain terms and conditions apply, actual experiences may vary. This used truck has a history that's at least somewhat unknown (you don't know if it's been driven hard, towed a lot, lived in salt, maintained correctly, etc), a third or so of it's service life is already gone, and depending upon which model/trim you're comparing it to, it costs well over half of what a new one does. There are mechanical reasons to pick a used V8 Tundra over a new V6TT Tundra, but there are pros and cons to the "savings" when looking at new and used vehicles. |
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Posted: 5/16/2024 2:45:41 PM EDT
[#23]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit  Attached File2011 F250 Lariat CCSB 4x4 with 162k miles. Have about $12k in aftermarket accessories in it. So I'd want about $34k for it 
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Posted: 5/16/2024 3:01:17 PM EDT
[#24]
The Chevy dealer I bought my 2017 Silverado emails me their ad ocassionally. About a month ago it was $10k off msrp on instock Silverado's. As of this morning's email it's now $14k off msrp. I think they're running short on buyers that can swing 7%+ loans at $60-100k.
At 14k off it's getting fairly close to what I paid 7 years ago. |
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Posted: 5/16/2024 3:18:51 PM EDT
[#25]
Quote HistoryOriginally Posted By Gator96: The Chevy dealer I bought my 2017 Silverado emails me their ad ocassionally. About a month ago it was $10k off msrp on instock Silverado's. As of this morning's email it's now $14k off msrp. I think they're running short on buyers that can swing 7%+ loans at $60-100k. At 14k off it's getting fairly close to what I paid 7 years ago. I'm not exactly a fan of modern GM, but the Silverado is a compelling deal at the moment. 5.3L LT 4x4s are out there for well under $50k, RSTs in the low $50k range, and LTZs in the mid $50k range, and the Chevrolet home page is advertising financing as low as 1.9%. At that pricing relative to the rest of the market, I'd absolutely consider taking on the risk of GM drama like DFM. |
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USA
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Posted: 5/16/2024 3:23:05 PM EDT
[#26]
Quote HistoryOriginally Posted By GenYRevolverGuy: I'm not exactly a fan of modern GM, but the Silverado is a compelling deal at the moment. 5.3L LT 4x4s are out there for well under $50k, RSTs in the low $50k range, and LTZs in the mid $50k range, and the Chevrolet home page is advertising financing as low as 1.9%. At that pricing relative to the rest of the market, I'd absolutely consider taking on the risk of GM drama like DFM. Just wait for the deals on the 2500s that don’t have that DFM shit. Deals will be coming. All the companies that couldn’t get their fleet orders of work trucks for the last 4 years have to be getting all stocked up at this point. |
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USA
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Posted: 5/16/2024 3:23:52 PM EDT
[Last Edit: DayandNight1701]
[#27]
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? I sure as shit wouldn’t be paying $30,000 for an 8 year old pickup with 100,000+ miles. Pure fucking insanity. 
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Posted: 5/16/2024 3:26:44 PM EDT
[Last Edit: NoStockBikes]
[#28]
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? Oh, FFS… do you want it or not? If you wait another 10 years, it’ll probably be cheap as fuck. Just buy it, one day you’ll wake up dead and full of regret, and the regret won’t be overpaying 10% for an 8 year old truck back in 2024. |
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Posted: 5/16/2024 3:30:34 PM EDT
[#29]
Quote HistoryOriginally Posted By Doz_TCC: See guys, this is how you post. Fair dose of reality and some good analysis to back it up. What I meant by exploding in a few weeks is like a Black Tuesday event. The whole thing will be appearing to work, until it doesn’t. Someone mentioned earlier saving 30% of 1 year income, this vehicle would be only be ~19% of 1 year. Put another way, I have more money than time, so anything (like a stupid reliable vehicle) that preserves my time is worth it. Quote HistoryOriginally Posted By Doz_TCC: Originally Posted By Osprey61: Holy hell, WTF? My advice would be to get off GD and stay off it for a while. You're listening to, and apparently believing, people on this board who fantasize about their pseudo-military "preps" playing out in a post-apocalyptic America. The probability of a catastrophic collapse is staggeringly low, and it would take a disaster of biblical proportions to bring it about. In the mean time, nobody is getting their credit card debt forgiven. The situation was worse, a lot worse, in the 70s with nearly weekly bombings that are now almost forgotten, and interest rates that peaked at just over 18% in the early 80s. Remember the Arab Oil Embargo? The Cuban Missile Crisis? The assassinations of JFK and MLK? We've had nine recessions since 1960, three of them considered major and relatively recent. 9/11? The Antifa and BLM riots? How about a presidential election that half the country now believes was corrupted? Yet here we are now a half century later, still going to work, paying mortgages and complaining about taxes. With seven kids I don't blame you for wanting a nice truck, but prices will eventually correct. In fact, it's already (modestly) begun. Before you do anything rash, I suggest you read this. I know factual due-diligence goes against the grain here, but it's a fairly even-handed review of the 2023 car market and expectations for 2024. Cox automotive forecast: a return to normalcy See guys, this is how you post. Fair dose of reality and some good analysis to back it up. What I meant by exploding in a few weeks is like a Black Tuesday event. The whole thing will be appearing to work, until it doesn’t. Someone mentioned earlier saving 30% of 1 year income, this vehicle would be only be ~19% of 1 year. Put another way, I have more money than time, so anything (like a stupid reliable vehicle) that preserves my time is worth it. What vehicle past 100K is “stupid reliable”? In the current economic climate I don’t see used prices dropping significantly. As people become more snd more squeezed, the demand for used vehicles will probably increase. Which will push the prices up. Lots of people will make bad purchases. |
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Posted: 5/16/2024 3:35:32 PM EDT
[#30]
Quote HistoryOriginally Posted By jsnappa: Save up 30% of your 1 year income and pay cash when the vehicle you want/need shows up. Repeat every 10-14 years. Retire a millionaire at 59.5. Hahahaha….30% of my income will barely buy a ‘79 Pinto !!! . |
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OH, USA
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Posted: 5/16/2024 4:12:40 PM EDT
[#31]
Quote HistoryOriginally Posted By MJ11B4P: I know markets are very localized, but that sounds like a terrible deal. I would wait at least for something better. FWIW, I was looking at 2015-2021 Tundra SR5, double cab, 2WD under 100k miles and am seeing better deals pop up at mid-$20k range I’ve been looking nationwide for SR5/limited, crewmax cab, 4wd. This is the best option I’ve found in months, and it’s 1,100 miles away. If people haven’t been paying attention, the truck market went wild 4 years ago and hasn’t returned to normal |
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Posted: 5/16/2024 4:16:51 PM EDT
[Last Edit: perfectsilence]
[#32]
Prices would come down substantially if prices were only high due to low supply or high demand or some combination of the two and not a devaluation of the dollar itself.
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OH, USA
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Posted: 5/16/2024 4:17:05 PM EDT
[#33]
Quote HistoryOriginally Posted By GenYRevolverGuy: If this is the case, have you considered why you are looking at a mid-life used vehicle? For the purposes of this conversation, let's say the life expectancy of a pickup truck is 20 years or 300k miles, whichever comes first. Certain terms and conditions apply, actual experiences may vary. This used truck has a history that's at least somewhat unknown (you don't know if it's been driven hard, towed a lot, lived in salt, maintained correctly, etc), a third or so of it's service life is already gone, and depending upon which model/trim you're comparing it to, it costs well over half of what a new one does. There are mechanical reasons to pick a used V8 Tundra over a new V6TT Tundra, but there are pros and cons to the "savings" when looking at new and used vehicles. Quote HistoryOriginally Posted By GenYRevolverGuy: Originally Posted By Doz_TCC: Someone mentioned earlier saving 30% of 1 year income, this vehicle would be only be ~19% of 1 year. Put another way, I have more money than time, so anything (like a stupid reliable vehicle) that preserves my time is worth it. If this is the case, have you considered why you are looking at a mid-life used vehicle? For the purposes of this conversation, let's say the life expectancy of a pickup truck is 20 years or 300k miles, whichever comes first. Certain terms and conditions apply, actual experiences may vary. This used truck has a history that's at least somewhat unknown (you don't know if it's been driven hard, towed a lot, lived in salt, maintained correctly, etc), a third or so of it's service life is already gone, and depending upon which model/trim you're comparing it to, it costs well over half of what a new one does. There are mechanical reasons to pick a used V8 Tundra over a new V6TT Tundra, but there are pros and cons to the "savings" when looking at new and used vehicles. Namely that new is $60-70k. The truck I’m looking at is from TX, one owner, dealership service records every 5k miles like clockwork, great dealer reputation. Like I just responded to another guy, best deal I’ve found in months |
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Posted: 5/16/2024 4:18:11 PM EDT
[#34]
Quote HistoryOriginally Posted By jsnappa: Save up 30% of your 1 year income and pay cash when the vehicle you want/need shows up. Repeat every 10-14 years. Retire a millionaire at 59.5. Retire a millionaire at 59.5 in 2024 and starve to death by 70. |
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Posted: 5/16/2024 4:21:12 PM EDT
[#35]
Quote HistoryOriginally Posted By Doz_TCC: I’ve been looking nationwide for SR5/limited, crewmax cab, 4wd. This is the best option I’ve found in months, and it’s 1,100 miles away. If people haven’t been paying attention, the truck market went wild 4 years ago and hasn’t returned to normal Quote HistoryOriginally Posted By Doz_TCC: Originally Posted By MJ11B4P: I know markets are very localized, but that sounds like a terrible deal. I would wait at least for something better. FWIW, I was looking at 2015-2021 Tundra SR5, double cab, 2WD under 100k miles and am seeing better deals pop up at mid-$20k range I’ve been looking nationwide for SR5/limited, crewmax cab, 4wd. This is the best option I’ve found in months, and it’s 1,100 miles away. If people haven’t been paying attention, the truck market went wild 4 years ago and hasn’t returned to normal The market for almost everything went wild four years ago. Why? And can that genie ever be put back into the bottle? |
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TX, USA
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Posted: 5/16/2024 4:24:05 PM EDT
[#36]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit That was my takeaway also. Holy shit. |
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OH, USA
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Posted: 5/16/2024 4:47:38 PM EDT
[#37]
Quote HistoryOriginally Posted By masterofpew: https://www.ar15.com/media/mediaFiles/152407/Screenshot_20240516_134109_Brave_jpg-3215786.JPG 2011 F250 Lariat CCSB 4x4 with 162k miles. Have about $12k in aftermarket accessories in it. So I'd want about $34k for it Quote HistoryOriginally Posted By masterofpew: Originally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit https://www.ar15.com/media/mediaFiles/152407/Screenshot_20240516_134109_Brave_jpg-3215786.JPG 2011 F250 Lariat CCSB 4x4 with 162k miles. Have about $12k in aftermarket accessories in it. So I'd want about $34k for it For those that would scoff at $29k for my truck, looks at this. 6 years older, 60k more miles, only $4k less and it’s not a Yota… |
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FL, USA
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Posted: 5/16/2024 4:52:49 PM EDT
[#38]
Quote HistoryOriginally Posted By LDAguy: Hahahaha….30% of my income will barely buy a ‘79 Pinto !!! . 35% is ok too. |
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AR, USA
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Posted: 5/16/2024 5:28:33 PM EDT
[#39]
Interesting thread. Had to buy a new truck this month when my Tundra was totaled in a wreck.
Ended up with a well equipped GMC Sierra SLT. Crew cab, Bose, bed liner, leather interior, moonroof, etc. Sticker was $64k but with dealer discount and rebates ended up at $52,600 and got $7k trade in for a 2010 Camry with 208k miles. So, deals are improving some but I had to act. Still a lot but looked around for 6-8 weeks until I found this one. Message is diligent shopping and be ready to act when you see the truck and deal you want. Deals may get better but you can swing a reasonable deal now if you need to do it. |
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NM, USA
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Posted: 5/16/2024 5:32:27 PM EDT
[#40]
Quote HistoryOriginally Posted By Doz_TCC: See guys, this is how you post. Fair dose of reality and some good analysis to back it up. What I meant by exploding in a few weeks is like a Black Tuesday event. The whole thing will be appearing to work, until it doesn’t. Someone mentioned earlier saving 30% of 1 year income, this vehicle would be only be ~19% of 1 year. Put another way, I have more money than time, so anything (like a stupid reliable vehicle) that preserves my time is worth it. Quote HistoryOriginally Posted By Doz_TCC: Originally Posted By Osprey61: Holy hell, WTF? My advice would be to get off GD and stay off it for a while. You're listening to, and apparently believing, people on this board who fantasize about their pseudo-military "preps" playing out in a post-apocalyptic America. The probability of a catastrophic collapse is staggeringly low, and it would take a disaster of biblical proportions to bring it about. In the mean time, nobody is getting their credit card debt forgiven. The situation was worse, a lot worse, in the 70s with nearly weekly bombings that are now almost forgotten, and interest rates that peaked at just over 18% in the early 80s. Remember the Arab Oil Embargo? The Cuban Missile Crisis? The assassinations of JFK and MLK? We've had nine recessions since 1960, three of them considered major and relatively recent. 9/11? The Antifa and BLM riots? How about a presidential election that half the country now believes was corrupted? Yet here we are now a half century later, still going to work, paying mortgages and complaining about taxes. With seven kids I don't blame you for wanting a nice truck, but prices will eventually correct. In fact, it's already (modestly) begun. Before you do anything rash, I suggest you read this. I know factual due-diligence goes against the grain here, but it's a fairly even-handed review of the 2023 car market and expectations for 2024. Cox automotive forecast: a return to normalcy See guys, this is how you post. Fair dose of reality and some good analysis to back it up. What I meant by exploding in a few weeks is like a Black Tuesday event. The whole thing will be appearing to work, until it doesn’t. Someone mentioned earlier saving 30% of 1 year income, this vehicle would be only be ~19% of 1 year. Put another way, I have more money than time, so anything (like a stupid reliable vehicle) that preserves my time is worth it. Sounds like you are in a better financial position than many Americans. And you mentioned your time, how much of your time are you going to spend thinking about before you just send it and buy it anyways? Nobody can predict a Black Tuesday type thing anyways. If you can afford it (I mean really afford) ...  I do second the trailer idea as well though, even if not right now. If you have the space for it, a nice, big and low floor is handy. So is not having to use it for small stuff you can toss in the bed. That said, I would expect prices to fall eventually, but I stand by my doubt of anyone really being able to predict with authority. Do the best with the information at hand. |
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Posted: 5/16/2024 5:38:46 PM EDT
[#41]
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FL, USA
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Posted: 5/16/2024 5:55:50 PM EDT
[#42]
Used truck market is still overpriced. There are deals on new trucks though due to way too much inventory and high interest rates. My neighbor just bought a new F150 for $42k out the door.
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Posted: 5/16/2024 6:11:59 PM EDT
[#43]
I would take that $30k and buy a brand-new 2025 Toyota Camry.
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Posted: 5/16/2024 9:19:22 PM EDT
[#44]
Quote HistoryOriginally Posted By masterofpew: https://www.ar15.com/media/mediaFiles/152407/Screenshot_20240516_134109_Brave_jpg-3215786.JPG 2011 F250 Lariat CCSB 4x4 with 162k miles. Have about $12k in aftermarket accessories in it. So I'd want about $34k for it LOL...you're high on your own farts bud. |
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NC, USA
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Posted: 5/17/2024 7:03:44 AM EDT
[#45]
I was offered $2,000 less than I paid new for my 3 year old Tundra with 38K miles while getting an oil change recently. I told him that I know what I got and it’s worth more than I paid because of Biden’s inflation. I’m probably not too far off.
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NC, USA
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Posted: 5/17/2024 7:05:48 AM EDT
[#46]
Quote HistoryOriginally Posted By Im_Awake: How is a Tundra going to fit 8 people? 9 if my math is correct. Two adults and seven kids. |
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NC, USA
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Posted: 5/17/2024 7:12:10 AM EDT
[#47]
Quote HistoryOriginally Posted By GunLvrPHD: I would take that $30k and buy a brand-new 2025 Toyota Camry. He has seven children and I assume a wife. A Camry would be about as useful to him as a condom. |
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Posted: 5/17/2024 7:18:19 AM EDT
[#48]
I low mile leased a 2021 Suburban Z71 for 64k right before the chip shortage, because well, doom, ended up buying it out at 39k when everything like it was listed at 55-60k on the interwebs, had my car buddy check and freakin' auctions were low 60s.
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OK, USA
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Posted: 5/17/2024 7:45:27 AM EDT
[#49]
This place is for entertainment, not for advice about anything.
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Posted: 5/17/2024 8:28:27 AM EDT
[#50]
Quote HistoryOriginally Posted By mk4dubbin: 30k for a 7 year old truck with 100k on it? Holy shit I'm going with this and I sell cars. No fucking way. If it's museum quality that's about double what it's worth. We just sold a 2021 F-150 XLT with 34000 miles on it, XLT sport package, one owner truck that came from my dealership gold certified for $38,000. OP needs to look elsewhere. |
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