Here's How Much MONEY You Need To Make To Afford A NEW TRUCK!!
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- Опубліковано 11 чер 2024
- In this video I talk through how much money you need to make per year in order to afford a new truck in 2024. Truck prices have skyrocketed over the last few years but so has the cost of everything else. Things have gotten out of hand and out of reach for most Americans. It is now not uncommon to see trucks cost well over $80,000... and often times breaching $100K+... which is unreal.
I talk through the average household income needed to afford a typical home in the US today... and I present what those numbers used to be back in 2020. Crazy how much things have changed. Inflation really took a toll on people and dealerships are now starting to show it. All dealerships across the US are just stacking up with new vehicles, just collecting dust, not selling. People can't afford these insane prices. Something has got to give soon... what do you think that will look like? Will we see dealerships go under in the coming year or so?
Thank you for watching as always, I sincerely appreciate your support of the channel. If you haven't already, please consider Liking and Subscribing. Your support means, a lot. Thank you!
-Stay Untamed...
#carmarket #marketcrash #autosales #toyota
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I make well over six figures, kids are out of the house, I have no debt and I WOULD NEVER pay these crazy truck prices.
Nobody cares
@@erin7995 You cared enough to respond right…🤔
😭😭 Jeff Bezo can't even afford todays trucks! LOT ROT for decades. 30 yr car note
Same here. My last kid just graduated college and is gone. I'm still not going to pay those high prices 👎👎👎
@@thadlm2698lol
I paid off my toyota last year after 6 years of payments… after living without a car payment Im not going back
Smart
It is a wonderful feeling. Congrats man! 🙌
With a Yoda, you won't need a new truck for a decade or more.
congrats brother i paid my 21 tacooo off never again . auto loan sucks after 3 months lol
Congratulations friend. My last ever car payment was in 2008, and I'm loving it. Monthly car payments are a financial ball and chain. They aren't worth that fleeting new car smell.
You can't raise prices 40% and then lower them 10% and expect to still sell.
Esp when you consider they have been doing this for 2 years now, and the manufacturers are actually charging 55% less in 2024 than in 2023 because of lack of sales...
They are trying to profit off it instead of pass savings along.
Bad business practices
people spend money they don't have to buy things they don't need to impress people they don't like.
The unfortunate reality of living in an Instagram/tiktok world. It’s a shame.
Testify 😂
You have hit the nail on the head!
Spot on👍You call them ‘Keeping up with the Joneses’
Very well said. Very true.
30% drop in prices , 0% for 60-72 months, 100K Bumper to Bumper 100% vehicle Warranty . That way we know they are fully confident in what they are building
This 100%.
I agree. This is where we should be at right now… 👌
No standard full size truck, regardless of features, should cost over 60K and no mid size over 40K. Nothing you can't shit, shower, shave, sleep somewhat comfortably, and cook a meal in should be over 60K. STOP contributing to this rape of the consumer.
What do you say about for example a suburban (i.e. a 1500 truck with a longer roof and back seats/hatch)? Too many people think SUV's are ok to be so expensive but trucks should be dirt cheap, when there is only a few k more content in the SUV's vs the trucks.
To be honest, I don't solely blame the manufacturers and dealers for this. The full size SUV and truck became the status symbol of the middle class over the last twenty years and people have been willing to pay a car payment equal to their mortgage to show that they're in the club. But that also doesn't excuse manufacturers for raising prices by almost 30% in 4 years covid and inflation or not. It's a cycle that has to break, hopefully sooner rather than later.
@@coffeeandxanax2158 well then maybe we need these unaffordable prices to force people to wise up. Dealerships love gullible, financially illiterate people because that seems to be how they make the majority of their profits. It's hard for me to understand now, why somebody would ruin their entire financial future by taking out an expensive car loan to purchase one of these vehicles. To me, that's foolish, and insane.
Well also no truck needs a heads-up display, no truck needs power seats, no truck needs a sunroof, no truck needs a power tailgate, no truck needs....
I make $225K and my absolute max budget for a vehicle is $45K, I have no idea how these people are buying $90K trucks???
I'm with you. Last year I grossed $250k. I have zero debt aside from the house and struggled with the idea of shelling out $36k for a 2 year old vehicle. Most that shell out the big bucks for these trucks are either way in debt or leasing. I refuse to play into that game.
Deep pockets and Covid inheritance money with a YOLO mentality and obtuse mindedness.
the bigger kicker is how many guys commute to work and back in a truck that has never towed or had anything in the bed
Us Americans are the best at living beyond our means. Thanks Hollywood and TikTok. 😔
@@UntamedMotorsthank American ethics and lack of financial education
Simple. Just do not buy a new truck or car unless it is an emergency such as your car is totaled, or you ran your old car into the ground. If America would just stop buying…these manufacturers and greedy dealers will lower the price. Basic economics. btw…good videos !
An emergency used vehicle could be a better option. "this only has to last till ______". Buying New when you think you HAVE to is when you will pay the most possible for it. (been there done that, won't again)
@@laser31415the inflation on used cars is too high to justify buying used. I looked,2019’s with 100k miles were selling for $20k. I’m talking sedans not trucks or suv
Then people will talk down to you and say that your 🏳️🌈 and not a REAL Republican
Exactly 👍
Those prices are telling UAW workers to get ready to be unemployed and eating ramen.
Lower the price of these things. Nobody needs all this bullshit technology.
Yeah they’re entirely overdone now days… we just want reliable and simplistic vehicles.
Right, Way too much crap that I would never use. Just give me bluetooth and car play…
the very reason why I grabbed a 2023 sr5 while i still could.
@@MH_6160 I wouldn't even want or use that...
facts just need a new engine ,AC and new seats , everything else is extra bs
I’m 100% debt free and make over three times that number you said. Not a chance I would spend that kind of money on a truck. People who pay that much are the same people crying about living paycheck to paycheck because of their low financial IQ.
That’s the unfortunate truth. 👌 💯
💯 no shortage of r&tards in this country…
Good for you, trucks are not that high priced.
@@mjsboda777 Do you have any good data to back that up, or is it just your opinion? Personally, I don't want to drop that kind of money on a vehicle so my 2013 2500HD will be driven until the wheels fall off. Rust just broke through this year but that is just cosmetic.
@@mjsboda777 ur high
Don't buy new unless you have a net worth of $1,000,000+. Buy used and pay cash. Don't have more than 50% of one year's take home pay tied up in a depreciating asset.
I’m starting to feel more and more this way as time goes on. 👌
Dealerships are knowingly selling vehicles to people they know can not afford them. I will never buy a brand new vehicle. I only buy used and I try to research my vehicles as much as I can so I know I'm getting the most bang for the buck.
Someone may be spending $90k on a new truck but it won't be me
They get away with charging these ridiculous prices because consumers keep buying them! Its simple economics. Stop buying them at this ridiculous price and they will have no choice but to come down.
Been car free for twenty years. 68 years old no prescription drugs I ride a bicycle and walk. Freedom!
The prices are outrageous.
Trucks need to become trucks again & forget all the fancy expensive frivolous tech crap, etc.
I agree. They’ve become entirely overdone. We just want simple, reliable and affordable trucks. 👍
Paid cash for a 2003 F350 7.3 diesel. crew cab long bed.
immaculate condition with 95k miles on it. 7.3s go forever!
paid $28k cash.
I wouldn't even consider buying the new plastic junk vehicles now days. Even if they cut their prices in half.
Not sure how this is the same? Back in 2003, the vehicle you just bought would have been out of the price range for most, no?
if you know anything about vehicles you wouldn't ask.
this isn't 2003. we're in 2024.
there's a reason the older vehicles appreciate while newer plastic crap depreciates and doesn't last even 100k miles without thousands in repairs.
I just bought the 2003 truck this year. 10x the truck compared to the newer ones and will last 5x as long for 1/5 of the price.
You made a good purchase 💯 👌
@@user-rg3zx3oc7l irrelevant to the post though. Glad you like and are enjoying your truck though and do appreciate your opinion on both older and new vehicles.
Biden did this by reversing trade deals and causing supply chain issues. Now we all suffer the consequences.
We have been spoiled as Americans with trucks and vehicles that are overloaded with bells and whistles, not to mention all the regulations and EPA rules which all together spiked the prices beyond what us regular folks can afford. Let's get back to basics, simple honest to God trucks... Look at what car makers like Toyota has to offer to other markets, simple capable and economic trucks like the Hilux, LC-FJ's, and others for so much cheaper... just a thought.
Fine with me. My last pickup truck was a 2002 Ford F-150 XL, very simple, plain, no frills truck with AM-FM cassette, roll up windows, manual transmission, nice cold A/C, and a 4.2L V6 engine. I loved that truck, and I paid it off. I wish I still had that truck
I don't blame the EPA for this. The auto industry had record profit the last few years selling fewer cars. That means more profit per vehicle. Dealer markups over MSRP due to limited availability tacked on to that means the industry as a whole was greedy. Yes some regulations have increased costs of production (for every camera in a vehicle for instance, it costs $50-150) but that doesn't represent 50-60% increase in MSRP over the last 5 years. Also, due to low or 0% financing that we were getting, many people didn't care that the cost was exorbitant as long as their payment stayed within their budget. So we're at fault for buying these vehicles.
@@derpydestinies anybody who buys those vehicles with those insane dealer markups is a fool. I'm not one of those people. That's highway robbery.
Wanna really do something about it? Start asking your politicians to support the end of the 25 year import rule and the finally repeal of the Chicken Tax for light trucks...
Either start doing that or you got what you deserve from both parties... #itiswhatitis
@@f1champ551 i totally agree. That law is one of the most irrelevant and unintelligent pieces of legislation that is on the books at this time and age. most people say they don't want to get involved in politics, but I always tell them that doesn't matter, because politics will get involved in you and your life...
Even if I had $1million in my checking account alone, no way I’d buy a new car/truck.
The answer is to make simple vehicles, without a bunch of electronics, tech, power everything, that breaks after a few years, and costs a fortune to repair. That's why the Ford Maverick was sold out, even though it is not a real truck, you can get one for under $30 k .
I agree we need to see less fully-specced options. The maxed out trims have become far too prevalent.
Oh next year at this time there will be even more 2024 models still on the lot, than 2023s on the lot today. It's gonna be insane
Yep it’s going to become a compounding issue unless something gives… and soon.
@@UntamedMotors I don't see it happening during 2024. Model year.
Not At4 or AT4Xs. Selling out here in North TX
Wages for the regular working person has increased 15% since 1978 -2022. Yet, CEOs, CFOs for large corporations etc... has increased over 1700% within those years'.
That's a false statistic as one of those numbers is inflation-adjusted and the other isn't. Besides, CEO pay is a red herring that's used to divide people. If CEO pay were lower, workers wouldn't earn a dime more. Shareholders would.
Funny how that works huh? Ridiculous =\
@@sandman9601 The money is still better in the shareholders pockets than the CEO's, many little people own shares indirectly thru their pension funds etc..
A family of 4 fifty years ago only needed 1 wage earner. Try that in the current times and see how that works out.
@@johnmourer5747 💯
The Value of the dollar went down while technology and luxury options became standard.. and people wonder why cars are significantly more than 5 years ago.
I appreciate your videos for my attention time span. The
I appreciate that feedback man, thank you for that! 🙏🏼
Pickups everywhere. Nothing in the truck except the guy paying the bills haha
Even 40k is outragious for new vehicle price. No thanks, lets go brandon
Your ignorance is showing if you're Blaming Brandon.
No President can dictate what a car company can charge for their vehicles not even King Trump!
Absolutely ridiculous…
@@LasVegas68 it's the president's policies. Notice how when trump was president everything was cheaper?
Edit: it may have partially been due to covid 19 which was made in a China lab which I'm sure was intentional to get trump out of office to do the fake mass mail in ballots.
JohnnyBoy and his Kool-aid thinks Trump would have these trucks at 40k. Enjoy Ignorant Boulevard.
Spoiler alert : The president (Biden, Trump, Obama, Bush, Clinton, whoever it is, doesn’t matter) along with your so called elected officials don’t give a sh*t about you and your financial situation. Both parties (Dems and Republicans) are bought off by same corporate interests. They do whatever corporate says to do. All Dems and Republicans do is make us turn against each other over stupid sh*t that does not improve our lives for the better. Both parties don’t want to pass any laws that will help families improve their financial wellbeing and instead keep distracting us on culture wars. I don’t care what anyone wants to do with their lives as long as what they do does not infringe the rights of others. For once I just want our own government to pass law that will help Americans live a better life financially, from there the rest will take care of itself.
Below invoice!!!! That's still too much! What needs to happen simply won't! All those prices have to be repriced to more resonable AFFORDABLE prices. The most expensive truck should be $55000...MAX! What a mess GREED has caused all of US!!!!
Yeah since when are we no longer able to get a full-sized pickup truck between 40-50K!? Crazy times. =\
It will happen if WE make it happen by not buying.
Six figs for two rails and a bed...screw that!
I love this channel. I appreciate your videos and the time and effort you put in producing content for us. Thank you.
Thank you for that positive feedback. It means a lot… =] 🙏🏼
We're already seeing literal deflation in the car market (Stellantis issuing new window stickers). It's not going to break until it breaks, but he problem is a lot of the potential buyers won't have a job at that point, and the people who bought before it broke will be in no position to buy another for 5+ years.
Thanks for all the content Untamed!
They need to half the prices, as a minimum.
Yeah they’ve gotten completely out of control. Not in alignment with current wages whatsoever. 👌
Crazy prices. Before Covid I bought a 5th Gen 4Runner limited- 4WD, 3rd row and automatic running boards for 44k.
This is exactly my point! We are not talking 20 years ago trucks were affordable it was 4 years. This is all artificially inflated.
This video is spot on! Truck prices have gotten absolutely insane. Who can afford a $100,000 pickup? It's crazy that dealerships are still sitting on a lot of 2023 models because nobody wants to pay these crazy prices.
Maybe if these manufacturers brought back some affordable options people would actually buy them again. And don't even get me started on the markup on EVs. Ridiculous!
Houston, we have a problem.
Haha bingo! 🙌
Feeling really good about keeping my 21' Platinum!
Love seeing the channel blow up, Untamed!
Excellent channel! Keep up the good work!
This is the reason I’ll continue to hold on to my 1989 Toyota extended cab pickup because everything out there especially these new trucks are too damn expensive. Who could afford these outrageous prices?
People are stretching themselves way too thin to keep up with the Joneses. These truck prices are outrageous… something has got to give soon. Far too many repos taking place too. 🤷♂️
I don't think the repo man has any shortage of work right now. Another reason why it's really stupid to take out a loan to purchase a vehicle.
If people actually sat down and figured out the interest they are paying on these vehicles over 7 years, they would surely puke.
It adds like 10-20% of the cost.
Same thing applies to home prices. Way overpriced for what you actually get. Figure in mortgage rates of 6-7% you’re underwater the second you sign the dotted line…
I would never spend that much money on a truck even if I could afford it these dealerships are crazy
Here in Canada, the new Tacomas and Tundras are still selling. Even with the price increases, they are still some of the cheapest on the market. The Frontier starting price is the same as the Tundra. Even with a $5k starting price increase on the new Tacomas, they are still the cheapest out of all the competition.
In southwest MO and northwest AR, there is no truck inventory. You can't find trucks on the lot. Most you see on dealer websites are sold before they arrive.
I had serious buyers remorse after spending $53k with taxes on my new truck back in 2019 for a 2020 model. I paid it off in 13 months because the $950 payment made me literally sick. I really enjoy my Jeep Gladiator Rubicon and it fits my lifestyle but I’ll never spend that kind of money again unless I’m extremely wealthy and I can pay cash for my dream 911 Porsche. I’m 51 and don’t see that ever happening as I plan to retire overseas without a car.
Assuming you don’t have a ton of unsecured debt( student loan, credit card) you’ll need to make twice the otd price of the car, meaning if the vehicle costs 75000, you’ll need an income of at least 150000.
Ho the fuck makes that kind of money.
I spent the last 5 years saving for 30,000$ and I can't even afford a used Toyota like how big of a joke is that?
That is insane. Can’t believe this is our reality now… I’m sorry man.
@@UntamedMotorsAt this rate maybe if I save for another 5 years I might be able to buy a Corolla! haha
@TechJedi29 probably a used one at that lol. This is beyond insane
You're not alone my friend. Nobody can afford those trucks. I wouldn't buy one even if I could afford it. Too overloaded, too much that can go wrong, and very expensive to repair. What I have now works, and it's paid for. I'll stick with it.
@@brianasbury8315 100 percent. What happened to like the days where cars just made sense and were basic and were easy to repair.... I can't recall anybody shouting from the rooftops saying we want this crazy expensive tech in our vehicles.
I used to think raptors were so cool. But now, most trucks are extremely excessive, and beyond practical for work. I replaced my old escape with a 2020 f-150, because of work. Mechanically, it is loaded, 4x4, towing package, extended range tank, and the 2.7l is a great engine. Interior wise, it's got Bluetooth, so I'm happy. I got hit 10 days after buying the truck, drove it home. It got new doors and wheels on one side. These new trucks are really tough. I'm never letting this thing go.
You’re on fire today untamed! Totally agree with you! However, starting out with GMC‘s top-of-the-line 3500 Yukon is probably not the best example you should be using. That’s not “your everyday truck“ I’d like to see what the prices are for an SR5 tundra, or an F150, compared to some of these other trucks, either way prices are way too high and I think that what needs to happen is happening. The dealers are gonna be stuck with all of this inventory because they’re asking too much money and it’s gonna drive the prices down.
I also agree with you, prices are insane, on everything across the board and seeing the Tacoma go south of the boarder to be built at a lower cost, this should have been considered by Toyota Corp. on the new MSRP, it should be way more reasonable, $45k max on the top TRD OFF-ROAD 4X4 models and just a bit more for the TRD-PRO.
Thank goodness I purchased a 2018 Tundra Double Cab SR5 TRD Off-road 4X4 my MSRP was $43,625.00 but I got a deal during January 2018, I haggled for a few days, and ended getting it total OTD $45,613.81, and back then I sold my 2007 Tacoma Pre-runner TRD Off-road SR5 Double Cab with 60k miles for $25,000 and that was my down payment on the Tundra with payment for 60 months $351.61 APR 0.9% total cost after finance $46,096.60 Such an economic spike in a really short time?
Another awesome video
So true so true....you're right on the money
Great analysis...how anyone can buy these trucks today is beyond my pay and pay grade!
A mid sized truck shouldn’t cost more than 32k as far as I’m concerned
Appreciate what you have, don't EVER give into your unnecessary "wants". Make the corrupt banks, corporations, dealers and manufacturers claim bankruptcy!!
Here in CA, the Toyota Landcruiser First Edition is listed at $84K that includes $7k markup. It’s crazy!
That’s ridiculous smh 🤦♂️
You know the answer in one word as I do. The question is, what MUST change? The 1 word answer....Greed. When this economy breaks, and it will, these trucks and cars will go back to where they used to be or very close to it. Right now, these dealers are stealing 15-20K profit that they are splitting with the manufacturer. The experts claim the average profit used to be 1500-2000 total profit. So these can come down from 13,500 to 18,000 easily. Take it in a rough middle and call it 15.5K decline average. That 71K truck is 55,500. Almost sounds normal right? It is coming. This is the second totally honest video you have put out today. If you keep this up, you'll earn my sub and my friendship.
Haha thanks Danny. Hope you win you over eventually 🙌
Appreciate you tuning in nonetheless, thank you. You’re absolutely right. Most of these dealers have become total sharks that have tasted blood. They refuse to let go… they refuse to sell at reasonable prices because that’s cut into their inflated profit margin. 💯
@@UntamedMotors You see, we are more and more on the same page. Toyota just needs to stop lying to their customers. I am a tad older than you. I've drive Toyotas for 40 years. So I'm not a hater.
In Australia these “trucks” cost close to $180,000 by the time you register and put it on the roads.
I think we the consumers screwed ourselves. Buying all through COVID with exaggerated prices, I am sure showed manufacturers that people are crazier than they thought. They’re in it for money, they could easily lower prices significantly…but then then they wouldn’t make as much.
I think just because you CAN doesn’t mean you SHOULD. UA-cam allows me to have my truck but if not I’d still be in the paid off Corolla lol 🤷♂️
Just bought a gx470 sport package cash, these prices are insane... not having a car payment and high insurance prices feels good..
I feel you on that. We did the exact same thing a month ago. Feels great! Congrats brother.
Yes and high insurance premiums are even higher when the moneylender (slave driver) requires you to have full insurance coverage. They hold the title, they dictate the terms. Just sad what we get ourselves into just because we want to drive a brand new truck. I was once such a clueless fool, a gullible sucker. Not anymore. Not ever going that route again.
Contractors only people to buy. They get deduct the TOTAL 100% the price of the truck on income taxes. They don't care the price. Is this true for fleet purchases? If so, Main Street is out of the new truck buying business. IRS laws needs to change.
I bought a 2013 GMC 2500HD 6.0 4x4 for $13k cash last year... It's bullet proof and does what I want a truck to do... I can camp/off road it and not worry about scratches or truck payments... I could pay $70k for a new HD, but why...? I'd rather invest in real estate or bitcoin...
I think about my 1981 Ford F-150 with an in-line six. I bought it used in the late 80's. The simplicity, no-nonsense was the definition of a truck. Now I look at our 2022 Tacoma, which we love, but with the new 4 cyl turbos and the complexities, and electronics, no thanks. Not to mention the MSRP!
Nissan offering 84 months financing on a Frontier. Just wild.
I bought a 2022 GMC Sierra Elevation in 2022. It is fully loaded and came in at 66k. I have the 5.3 v8 without DFM (no dynamic fuel management). I have leather bucket seats, sun roof, rear window, off-road package, 20" wheels, blacked out package, all safety sensors, adaptive cruise control, 13" touch screen, spary in bed liner and multiple pro tailgate and the list goes on....Anyway my point is I went to the dealership for maintenance recently, and I was surprised to see trucks like mine with a lot less costing a lot more....
It's a sad world when Tacoma's are becoming unattainable for most.
Do a video on cost analysis, how much does it really take to manufacture the truck then compare to msrp’s. That would really show the greed
Things are starting to change some in my area. No more market adjustments and starting to offer some discounts. Still over priced but at least moving down. I think short term it’s not going to change much there are still enough people for the high end trucks that can afford them and will buy them. I do believe the 1500 series are more readily available and there many more incentives on those. They’ve dropped prices in my area and gm offering a low percentage rate. In my area anyway.
Hey untamed, love the Toyota content as I’m a big Toyota guy!
I have a question for you, as you’re a seasoned Toyota 4x4 owner.
My situation is this,
I just sold my 2009 Tacoma and I’m looking to get into something nicer. I have come to the crossroads between a 2021 v8 tundra (1794 or platinum) or a TRD pro 4runner. I live in Canada so gas prices are absurd but the tundra’s interior space look's great (I’m 6’4). But the better gas mileage of the 4runner and off road capability is a draw to the 4runner. Whatever I get I want to keep until it rots.
What’re your thoughts on Dailey driving these two vehicles? And if you could only pick one to keep forever, which one would it be?
I have to commute to a city for work during the week.
As for living situation it’s my girlfriend and I and a dog.
Thanks in advance.
Tough call for sure… commuting to the city, 4Runner wins. Having the functionality of a truck is priceless though. You never know when you may need to haul something, nice to have a truck bed. At your height, I’d make the Tundra my first pick. It has amazing turn radius to it’ll maneuver well in tight spots/city driving. It’s a win win.
Goodness if the 4Runner is you could buy a new one still for another 5-6 months. Both are the last of their kinds. Win win decision.
Im in an Organized Building Trade where guys make north of $150K and the only new vehicles i see are camry hybrids and maverick xls.
I bought my truck in the fall of 2020. It is a 2019 duramax 2500 slt. I was happy with the price . Got a discount and good trade in value . Literally a month later pricing skyrocketed. The dealer asked to buy my truck back for $10k more than I paid and offered a new model for $45k more than I paid with no incentives or discounts. The manufactures and dealerships did it to themselves. I will keep my truck for a long time as it’s paid off and runs well.
That white Tacoma looks nice.
Yeah, they are expensive but, that 90k truck was also one of the top trims. The at4x, which I have are tailored for those who like off roading. You can thank the current resident at the white house for price hikes
It's crazy that people pay inflated prices for special editions and TRD Pros. I was talking to a Toyota dealer this past weekend who is starting to see people wanting to trade vehicles bought during the pandemic with high dealer markups. He said it's a real wake-up call to most when they find out how little equity those vehicles now have because they paid too much initially.
Unfortunately I believe prices will come down a little for a short time then off the races again, ppl have VERY short memories!
That’s the unfortunate truth… =\ 😔
I think generations are changing to. A lot of my co workers I work with and myself at 35 age range are not buying this. We are on the upper end of blue collar work/lineman and all of us ride older vehicles. Our parents will go out and buy new vehicles but it seems our generation is getting wiser riding and keeping older vehicles and not being a slave to banks and “American dream”.
I think you’re right about that 👌 💯
I'm a Gen-Xer and I agree with you. I'll never buy a new vehicle again, period. Love or hate Dave Ramsey, but he is right about the incredible rip off new vehicles are, and the financial train wreck they tend to be. You pay the original OTD price of the vehicle, plus interest, that's throwing your money away. If you lose your job and end up upside-down on the car loan, you've got a serious problem. Just a loser all around, financing a new car. And the depreciation. Loses up to 60% of its original value if you pay it off on a 48 month loan, 10% the moment you drive it off the lot.
@Untamed Motors: I will need to replace my 2008 F-150 sometime this year. I want to step up to an F-250 but the prices are insane. A Lariat Crew Cab is pushing $80k. When does the madness end?
Not only do not people have the money for these, their credit lines are tapped out. Trucks are loaded with a lot of unnecessary tech. Much of that is required by law. The real new market will be for those who sell fully restored older cars and trucks.
Wouldn't pay no more than $28,000 for a Nelson Frontier. Plus, rather restore a F-150 1990s trunk for $20,000 before buying a new one for $50,000. Buying new cars with monthly acrrued interest, is a poor man's cycle.
Nelson? Who's that?
These prices along with current interest rates would make your monthly payment at minimum $900+ a month. That’s absolutely insane. We haven’t even considered the cost of gas and insurance (which rates have increased at a ridiculous amount as well)
I'ma high six-figure income earner, with only my truck, a '21 Tundra (I paid 42K for a TSS Crew Cab in 2020), and a mortgage. I plan to hold on to that truck until it falls apart. The prices of these trucks these days are mind-blowing. I live on a 22 acre homestead and was thinking of buying a new F-350 to move cattle and things, but I ran off the lot when I saw $112K for just above the base model. Not to mention the $423/mo for insurance. It wasn't even a dully. No way in heck would I spend that much for a depreciating asset.
They are raising the prices on the ICE trucks rapidly to closet that $35,000.00 Gap between the EV trucks and ICE trucks. Therefore, forcing you to pay the $100,000.00 plus for the EV trucks.
Wow! Thats expensive! 😮
Up almost double in 3 years...thanks Joe...
Don’t forget in my state Massachusetts you have excise tax and sales tax plus vehicle insurance has gone up big time..
Car manufacturers have priced themselves out of the market. The average worker/consumer can't afford a new vehicle with the income they make. Look for dealerships to stay full of UNSOLD inventory. This is ridiculous.
Servco Toyota on a few islands in Hawai’i doesn’t have any 2023 Tacoma‘s left over and maybe one or two 4Runner’s if that
Three soon to be four years ago, we going in the right direction.
The price increases the last 4 years are insane! They are also over manufacturing trucks with more options than necessary. More options than the versions sold overseas. All this means crazy prices.
I paid $47,995 for my 2018 Platinum Tundra with duel exhaust. Got every option that I could add on it. Prices these days are just crazy for trucks. Luxury SUV I expect prices to be high but with trucks it doesn’t make sense.
Nissan should give us a delete option such as delete infotainment, delete wheels (customers provide their own wheels) , delete floor mats and so on
The market will adjust. When people stop buying supply grows and prices drop. Trust the "invisible hand".
Missing an important factor here: borrowing cost. MSRP is insane, but now multiply your monthly payment by the 84 months; add your down payment and add what you got for your trade-in. That $80k Tundra cost you over $100k and at the end of your payments the truck is worth $30k if you’re lucky.
That's why buying a brand new vehicle is not a wise financial decision. If you take out an 84 month loan, that is crazy. You will almost surely end up upside down on the loan, and if you owe more than the vehicle is worth (depreciation) and you lose your job, you've got a problem if you have nothing in savings. And you won't if you're living paycheck to paycheck because of stupid debts like this. New vehicles aren't worth it. Let the greedy car companies, banks, and dealerships pound sand.
Always had used cars…… long story short had an accident came into some funds….. got my wife a Mazda CX-90 not gonna lie that thing is fun fun fun on the road. I myself went the humble route and got a Texas edition Silverado. Not too crazy of a trim but nice enough and spacious. Can’t complain within 7-8 months I racked up 12k miles seeing family through Texas and Colorado. It’s been a great drive and fun truck. Truly blessed but yes I very much agree vehicles today are priced at insane levels.
Yep, samilar prices for fancied-up Tundra's in Western NC. I had a 21 year old 240K mile Tacoma Prerunner but paying these prices is a turn off, i changed brands
the bells and whistles have gotten outta hand as a simple man i only need a am/fm radio A/C and a comfortable seat thats all my brand new 2006 had and it was 12500 out the door
If I managed a dealership, I would be ordering more base model vehicles. All you see on lots around here are maxed out trim levels and they aren't selling. The same vehicle can be 20K cheaper and still well equipped if you give up the heated steering wheel, television sized radio, pseudo auto-pilot driver assists, and unnecessary cosmetic trim.
Look at how much a brand-new car or midsized SUV costs.
They’re inflating the prices to counter both the loss in VOLUME of sales due to inflation and lack of commensurate pay raises, AND the increased cost of materials and labor which are also related to the same economic issues.
The result is a decrease in sales and trucks sitting on the lots. The inflated prices will never be enough to counter this. The prices cannot remain this high or they’ll experience catastrophic losses eventually. Best to wait.
I said it before and I'll say it again. Vehicles should never cost more than a most houses. There's a cadillac escalade out there that cost almost 200,000 knowing that it doesn't cost even close to that to make.