Originally Posted by oilpsi2high
Originally Posted by ls1mike
Originally Posted by Quattro Pete
Originally Posted by ls1mike
I just read, and I will look for it again, that the average price of a new vehicle is 35,000 dollars.
Yup, it's $36.5K.
https://www.prnewswire.com/news-rel...rding-to-kelley-blue-book-300804859.html
Thanks Pete, stuff is pricey. . I don't know how people do it, especially around here, housing is ridiculous, guess we just save a lot. I am a GS-12 step 8 and she is a GS-9 step 7 in the Seattle area, plus my retirement from the Navy of 1500 bucks a month. I won't write out what I make but people can look it up easy enough to see how much of a cheapskate I am. LOL.
How do people do it? Easy. They make the payments.
Nobody is writing checks for 35k for new trucks. They put 5k down, if that, or trade in their old car, and make the payments until it's either paid off or (more likely) they get sick of it and trade it in on something else. 72 months @ 6%+ 550/mo. payments are normal. Many pay more than that, both in interest and total payment. I know someone with an 84 month loan on their CUV.
We live in a society where people make payments on things like cell phones. A cell phone. Think about that - in 2002, would you imagine someone making payments on a Tracfone or a Virgin Mobile flip phone? No way.
When will it stop? When people stop getting paid. As long as there's an income, people will find a way to spend it.
These mini-me trucks are popular because people feel more comfortable driving them around in the city or in the suburbs. They are capable enough and will do what most people ask of them. [censored] most people just like "riding up high," so they buy a truck. They don't tow anything or even use the bed for anything more than groceries and a mountain bike on weekends.
Also, a guy on TheHullTruth just paid 29k OTD for a Colorado LT 4x4. So there ARE deals to be had. Another common problem is that people are spineless and have zero negotiation skills whatsoever. People just bend over and pay whatever dealers ask, including markup! I know someone who paid 35k for a Jetta and think they got a good deal.
As my grandfather always said - you only live once. Now for me, I personally drive a 16 year old pickup truck. Not because I have to, but because I want to. YMMV. At the end of the day, if you're happy with what you spent and with what you have, then that's all that matters.
I get they make payments and other peoples finances are not my business, but when the median income in the US is about 65,000 dollars I have to assume people are living pay check to pay check and working just to pay for back debt.
I am lucky to live in an area with a large government shipyard and submarine base as well as living about an hour ferry ride from Seattle so the economy here is really good even during the crash we really didn't feel the affects.
I paid 295,000 for my house in 2010. The house across the street on the same size property with a similar size house with and no barn just sold for 440,000. The guy who bought it works at Puget Sound Naval Shipyard and has to factor in at least 300 hours of overtime a year to make all his payments. He asked why I don't have a new truck. I said, I don't want the payment. He hates overtime but wanted a new truck. I said would you need the overtime if you didn't have the truck? He said no. So I guess it is about priorities.
Having said all that 31,000 bucks for a new vehicle isn't horrible. I would just need more room for the family and something that could tow my travel trailer.
