Dadoalex
Gold Member
- Jan 11, 2021
- 14,665
- 6,243
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New car prices are extremely highI think the vehicle market in general are gouging us. New AND used. Average new car prices have risen about 30% since 2019 and then the last 3 years, because of the chip shortage, they were selling used vehicles for almost the price of a new one.
I’m just wondering how long it will be before the auto industry collapses or they get another bailout. Average new car price is $47,000 and average payment is over $700 per month. At that rate, and considering that used vehicles are almost as expensive as new vehicles, people are simply not going to be able to afford to buy them anymore unless you take out 10+ year loans, which I find to be utterly ridiculous.
These auto makers are going to price themselves out of business.
For an F150 XLT with v8
Just your basic new truck, nothing added except the engine upgrade.
With new selling at these prices (and often above MSRP) it is expected demand for used vehicles will increase and their prices as well.
Don't buy used from a dealer.
Be patient
Don't be fixed on a particular make/model/year.
Do research. Find the car's real value before talking to the owner.
Take an ODB II scanner with you and use it
Test drive the hell out of the vehicle (I warn the seller if he wants to ride along that the drive will be something like GTA 4)
Be ready to drive your "NEW" vehicle till the wheels fall off.
A car/truck is a depreciating asset.
It's a tool.
Buy it as such.