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Posted on 03/06/2016 8:53:47 AM PST by NRx
Careful with the repos. They’ll skimp on maintenance for quite a while trying to hang on before they let the finance company take it back.
But yeah, there is no way I would pay $70,000 for a car or truck.
hey sky, nice post. I’d like to see more economic stuff thanks
great graphs too
I happened to see that price for a 2016 GMC full size truck while sitting in traffic in front of a dealership, it was a Denali model so it was loaded out. Very nice, but not $70K nice. I still don’t get who’s paying that price. $50K is a stretch but at least somewhat plausible.
You would have to be made of money, in which case that would be fine, or there would have to be some economic reason to get it like it would pay for itself with the kind of work it could perform. Same could be true of an expensive sedan that could do duty as a limo.
***What I can’t figure out is, who is paying $70,000 for a loaded pickup truck?***
I live in a relatively poor county in South Mississippi. You wouldn’t believe how many people are driving those ridiculously priced trucks. It’s a status symbol. You wouldn’t believe how many are sitting in the student high school parking lot!
There are basically no jobs in this county. You have to drive to the next county to get a job at the shipyard. They make what we make, so I know they are up to their eyeballs in debt to even manage to pay these truck payments each month.
To each his own, but I couldn’t spend that much money on something that will be a rust bucket in 7-10 years.
a lot of roughnecks here in Texas bought tricked out pickups. I guess they’ll be real cheap soon if not already.
I have tons a vehicles so I’ll never buy another again.
Here the young guys buy the 4x4 diesels and put stacks in the bed, they seem to make a game of letting traffic back up behind them then flooring it for a big cloud of black smoke. Sort of annoying, honestly.
I wonder if the gop does not want to win the white house and why they give Obama everything he wants. And they’ll give Hillary everything she wants. They don’t want to be held responsible for the crash that’s coming.
We KNOW that the gope wants Romney or some other gopE to win the republican nomination. Why? So Hillary will win.
They have to be living at home with no other expenses to pull it off.
I am going to have to have a new plan. I have purchased vehicles from relatives that are older and quitting driving. Good economical, low mileage vehicles. I am runnnig out of relatives though. My father in law said he never paid more than $100 for a suit. My goal is to never pay more than 10g for a vehicle.
I have the displeasure of listening to NPR on occasion while car pooling.
Their spin is that markets are so bad because of “unrestricted capitalism.”
I ask “what is unrestricted about capitalism when you can’t even buy a toilet without federal approval?”
They rattle off some non sense from a Bernie Sanders’ tweet and that’s the end of it.
I was thinking about buying some more silver. I take it you would advise against that.
Trucks will only fall so far in places where their utility can provide income. The excess price for the tricked-out stuff will be greatly diminished, though.
Getting harder to find one for less than that with low miles.
***I guess I’ll end up being like some of those old folks traumatized by the Great Depression, I’ll be a skinflint for the rest of my life, lol. No way I’m ever over-extending myself again.***
Here here. I’ve got a 1990 Camaro sitting outside that’s fixing to be rebuilt so I can drive it and give my daughter my 2009 Camry. I’m terrified to have another bill!
It's relative worth will increase for the foreseeable future.
I had an 85 turbo thunderbird 5 speed. I loved that car. I begged myhusband not to sell it. We paid cash for it so it wasn’t eating anything. He didn’t listen.
I had a heart attack paying 20 grand in 2011 for our car. I will never pay 70 grand for a car unless I live practically forever and 70 is the new 20. Lol.
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