Rodeo

[90lxwhite]

Went to the Houston rodeo tonite and I was peeking at the new cars the local dealers had out. I stopped by a black GT breifly and before I could turn away a young punk salesman came up and said, "I know you have some questions." My reply was, "yeah why's it so high!?" ($43k) he said because It'll do 150mph off the showroom and it has Italian leather and it has this faux 50th anniversary gas cap on the back.
The friggin Ford Fiesta was $17,555, Chevy Colorado aka s-10 was $36k, f me its rough out there.

 

[elarm1]

yes brother, cars have gotten ridiculously expensive. All cars sold here have mostly leather, heated seats, ridiculous luxury gadgets that make them weigh 4klbs and up. You don't even want to know how much I paid for my 14 Hemi Citadel Durango. Long gone are the days of a basic car that you option. Packages are expensive. F my life!

 

[f8tlfiveo]

Yeah 36k for a s-10.... I think not.. I looked at them for about 10 seconds during the Super Bowl. They must have been a major sponsor..


Sent from my iPhone

 

[A5literMan]

I actually like the Colorado but completely agree. I actually looked at a new f150 a few weeks ago. 54k! Wtf how can I justify spending that much? Looks like I will again look for a good used truck.
Edit: I'm tired of people talking about inflation etc when talking about new vehicle prices. These prices have completely outpaced inflation. You would have to keep anew vehicle 10years to justify the cost and make payments for about 5-7 years to afford it.

 

[f8tlfiveo]

The price on the sticker is b.s. My dad just bought a 14' ecoboost lariat.. 13k off the 53k pricetag. Just have to buy at the right time.


Sent from my iPhone

 

[Mustang5L5]

Inflation's a bitch.

Wait another 10 years and you'll see $50-60K GT's.

 

[A5literMan]

The new 93 GT I bought in 92 cost 17xxxx$ and was less than 50% of my yearly salary. At 40+k for a new one now I can't say the same thing anymore. If I were going to spend 40k for a mustang I'd find a used Shelby

 

[FoxMustangLvr]

The options today on these vehicles is nothing like what used to be 15-20 years ago. Labor + inflation makes for crazy price tags. Also don't forget that the bottom line is can they break that price tag down to an affordable monthly payment? Auto loans back in the day never exceeded 5 years for a brand new car, now you're seeing 7-8 year loans on a car that will depreciate faster than you can make your minimum payments. Some people don't want to see the total price, just make it so I can afford it month to month while working at Starbucks. Kind of like what they did with homes, anyone want an interest only home loan with a massive balloon payment?

Make money easily available but difficult to pay back is the way it is.

 

[Mustang5L5]

Auto loans back in the day never exceeded 5 years for a brand new car, now you're seeing 7-8 year loans on a car that will depreciate faster than you can make your minimum payments.

That's a whole crazy trend that has gone unnoticed. I was speaking to a car salesman the other day and he was telling me that 7-8 year loans are now the commonplace. 25 year old person wants a new C300 but can't afford a $45K car on a $30K/year salary so he rolls it into a 7 year loan for $500/month and proceeds to spend the next 7 years oweing more than the car is worth. In 5-6 years when the car needs a ton of work, the negative equity gets rolled into a Honda Accord that they now pay $500/month for.

Just a snowballing situation nobody wants to be in.


Personally, i say always buy 1-2 years old, let someone take the 20% depreciation hit, and then take out a 4-5 year loan and keep the car for 5-6 years. Those last 2 years take your payment that you would have paid towarss the car and deposit it into a bank account. When it comes time to trade in the vehicle, you have your trade in ($3-5K hopefully) and another $3-5K in cash to put down on another 1-2 year old car you plan on keeping 5-6 years.


At least thats how I do it. Speaking of which....i've owned my G35 for 7 years. Time to go trade it in on a G37x.

 

[90lxwhite]

I actually like the Colorado but completely agree. I actually looked at a new f150 a few weeks ago. 54k! Wtf how can I justify spending that much? Looks like I will again look for a good used truck.
Edit: I'm tired of people talking about inflation etc when talking about new vehicle prices. These prices have completely outpaced inflation. You would have to keep anew vehicle 10years to justify the cost and make payments for about 5-7 years to afford it.

Thank you thank you. Yeah the gap between wages increase and vehicle pricing increase is wider than ever. I understand that stuff gets more expensive as time goes on but the last 10 yrs, sht 6-7 even have gotten ridiculous. A $40k a year job 5-10 yrs ago is still paying close to $40k a year today. My wife's now paid for (2 yrs ago?) and starting to suck '07 2x4 darn near loaded expedition was in the 30's new. Now they're in the 60's.. Azzholes.. (Not yall, "the man")

 

[90lxwhite]

The options today on these vehicles is nothing like what used to be 15-20 years ago. Labor + inflation makes for crazy price tags. Also don't forget that the bottom line is can they break that price tag down to an affordable monthly payment? Auto loans back in the day never exceeded 5 years for a brand new car, now you're seeing 7-8 year loans on a car that will depreciate faster than you can make your minimum payments. Some people don't want to see the total price, just make it so I can afford it month to month while working at Starbucks. Kind of like what they did with homes, anyone want an interest only home loan with a massive balloon payment?

Make money easily available but difficult to pay back is the way it is.

Yeah it sucks you can finance one forever now but you pretty much have to throw it away after its paid off.

 

[90lxwhite]

The moral of the story- You can either make payments or repairs. The only one who wins is the guy paying cash for a new one.