Average new car price - now $50,000+

[JGalt]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

Good used cars are hard to find in my AO, most of them on the lots are beaters with 150k miles or more on the odometers. We got lucky three months ago and found a one-owner 2011 Hyundai with 25,335 original miles on it, for $5,000. But we had to drive 150 miles to Milwaukee to pick it up.

 

[1srelluc]

Good used cars are hard to find in my AO, most of them on the lots are beaters with 150k miles or more on the odometers. We got lucky three months ago and found a one-owner 2011 Hyundai with 25,335 original miles on it, for $5,000. But we had to drive 150 miles to Milwaukee to pick it up.

I need to get shed of my 2010 F150 as i don't need a full-sized PU anymore, just something in 4X4 to tow my utility trailer.

I look around and anything decent used along those lines and the prices make me cringe....Guess I'll keep the F150.

 

[JGalt]

I need to get shed of my 2010 F150 as i don't need a full-sized PU anymore, just something in 4X4 to tow my utility trailer.

I look around and anything decent used along those lines and the prices make me cringe....Guess I'll keep the F150.

Drive her 'til the wheels fall off, I always say. I had a 2001 F150 when I moved here from Texas. But I got my second DUI the year I got here and lost my license for a year. So I sold the thing for $1,000. It was all beat to crap from the whiskey dents. Kinda wish I'd kept it, but everything's so far away here in rural Wisconsin. So we mostly buy small gas-efficient cars with stick shifts. My wife hates auto trannys.

 

[Woodznutz]

After retiring I started driving for a couple new car dealers so I have long got over any fascination with driving a new car.

I see the prices and I don't know how so many are still buying them.

It's the higher income folks that are buying them.

 

[Chuz Life]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

My first house cost only $25,000.

My first car (used) was $200

 

[Captain Caveman]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

Everything goes full circle. You had local shops, cars came about, small shops died because the big supermarkets (grocery store) took off, cars become restrictive, local store start opening again.

 

[Toddsterpatriot]

This is sadly a result of the ill advised "cash for clunkers' bullshit to prop up the automakers a couple of decades ago.

Another example of an expensive Obama fuckup.

 

[Crepitus]

You are finally right. 0bama's Cash for Clunkers was a total disaster. It made prices for used cars shoot up, pricing out the poorest of the poor.

I never claimed he was perfect.

 

[Crepitus]

Another example of an expensive Obama fuckup.

I should have known you idiots would pounce on that post.

 

[Toddsterpatriot]

I should have known you idiots would pounce on that post.

It was your idiot president who fucked it up.

 

[initforme]

According to a dealer i called, he said the price of used cars is going to go way up. Get one now. The demand is going to exceed the supply big time. Not a bad thing.

 

[initforme]

A guy who sells cars said you should hurry up and buy a car?

I'm shocked!

Truly.

That you haven't died from your stupidity yet.

So new cars are too expensive, so used cars will become more sought after. Im all for prices rising on used cars.

 

[bdtex]

I buy new because I keep them for 12+ years and get my money's worth. My current ride will be 12 years old in late November. Looking to buy new again in April maybe. I pay cash when I buy. What I want is in the low 40's right now. I will turn 67 in November. My next ride might be my last one.

 

[initforme]

I trade in my f150 every 3 years. This one has 8 thousand miles. Going to trade it in soon. Probably my ladt brand new one.

 

[Mashmont]

I buy new because I keep them for 12+ years and get my money's worth. My current ride will be 12 years old in late November. Looking to buy new again in April maybe. I pay cash when I buy. What I want is in the low 40's right now. I will turn 67 in November. My next ride might be my last one.

Your last ride will be a chariot to Heaven.

 

[bdtex]

Your last ride will be a chariot to Heaven.

Hopefully a long slow ride. Mom lived to 87. Dad lived to 88.

 

[Jarlaxle]

I trade in my f150 every 3 years. This one has 8 thousand miles. Going to trade it in soon. Probably my ladt brand new one.

DO you always shout your poor financial decisions from the rooftops?

 

[Mr Natural]

I kept my last new car for 19 years.

Mine is 28 years and still going strong.

 

[Lisa558]

Mine is 28 years and still going strong.

Wow! What model? How many miles?

 

[Mr Natural]

Wow! What model? How many miles?

BMW 318ti. Just turned 130,000 miles.