Worst truck market in history. Ultra-inflated prices for sub-par quality vehicles. I will never, ever buy a new truck again. Those days are gone. Thanks for the video, Jason.
@NorthN2TheEast A great van :) FX4 F150 was $40k 20 years ago with a few options. That is $66k inflation adjusted. Prices have stayed the same for 20 years adjusted for inflation.
It depends man some people have the means too but a lot of people will buy these trucks living paycheck to paycheck paying that note which o agree is ridiculous
This has been pretty normal for 20 plus years. 2004 F150 FX4 was $35-40k new. Inflation adjusted its the same price $62k. Median income the was $45k, which is about $75k inflation adjusted, again about the same as now. Basically truck prices are the same and so are incomes.
If you can't put down $30k or so on a $70k truck, you have no business buying it. A $1600.00 car payment is insanity and a death sentence you gave to yourself.
Unless that 70k truck is used as a business, you don’t need it. Anything you need to drag with it that isn’t for making money is also a waste and you should sell.
@@Nun195 depends on income/net worth. If someone makes 200k and has a net worth of 2 million buying a 70k vehicle isn't going to sting that bad financially. Someone with a 100k net worth that makes 70k has no business buying a 70k vehicle if they want to win financially. It's all perspective.
If you put 30k on a American Junk you fucking stupid never do that Those 30 grands are gone the next morning If you doing financing do it rigt dont give away easy money fot the salesman and lender You crazy The only brand you want put up money up front is a Toyota if you ever sell it your not loosing such
I like to think of it as a per day cost... for that $95k Expedition at $2100 per month, that's 70 bucks a day just for the priveledge of using that vehicle. Imagine what you could do with an extra 70 bucks in your pocket each day in terms of saving and/or paying off other bills instead of dumping it into a depreciating asset.
Not just that. It’s $70/day for the luxury of something that sits in your driveway or in a parking spot 90% or more of the time. Unless that vehicle is making you money, or you are independently wealthy enough to absorb the depreciation, that’s about the most idiotic financial decision you can make.
Thats why i drive old cars . The newest one i have is a 2014 Lexus. I admit im a cheapskate but at least Im not paying basically a mortgage for a vehicle
The 67 GTO I got in 1972 & it was used. Belonged to an insurance salesman who drove from one end of California to the other. He wore it out so the dealer replaced the entire drivetrain & was basically a new car when I bought it.
The negotiation process begins at the MSRP price, not at the addendum mark up price. Anytime you notice a dealership hide the window sticker, RUN for the hills.
For some strange reason, these dealerships that avoid displaying the sticker so they can deceive the consumer. Whoever is responsible for ensuring that they display the sticker, should get with the program and do their jobs.
I’ve only ever purchased a new vehicle once in my life. A 2000 Ford Excursion Limited, 4x4 V10. It was $45,000. 25 years later, I still own it and drive it everyday, everywhere. It has 350,000 miles on it and it looks and runs like new. My total on maintenance for 25 years is $9,600. There is no way these new vehicles will last no where near that. I’m 70 years old and my Excursion will be with me til I’m gone.
@@donc6781 Nope, the v10 was way more reliable than the 7.3 or 6.0 and is only a fraction of the cost to maintain. I’m not bashing the 7.3, I’ve had plenty of them, but that’s the facts.
@@macscvelopopperdonuts2169 I don’t know, I look at it as, how many average people have spent thousands upon thousands of dollars on multiple vehicles in the past 25 years and I still have the same vehicle. It owes me nothing.
I have always been car poor. My most expensive purchase ever was 6k cash. My last borrowed car payment was $150 a month in 2001 for a 1996 Toyota pickup. I’ve been driving since 1991. All cash all old beaters. Point A to Point B. Still never heard of anyone cared. I still got there though regardless of other people’s thoughts on my ride. I love old cheap and unwanted
No, the price is THAT BAD ! You must be rich or young if the prices are ok to you.....I paid $60000. for my house on 2 lots in St.Louis county. They cost more than my house ! Trucks used to be the cheap transportation made for work. Now they're a status symbol made from plastic and alum for the ultra rich.
Great vid! Another thing people never really think about is the cost of insurance on top of that high payment, for example my state of Nevada is #4 in the country for the highest cost of insurance
It’s not manufacturers. Blame horrific government spending. Your dollar went from 40 cents to 15 cents in value since 2020. A donut a single donut went from 79 cents in 2019 to 2.39 in 2024. Just like f150 xlt trims went from $35k to $50k. In 2019 you could of gotten a lariat for $50k
@@BrianWaller-qe7gr not even close to reality. In 1990 you could buy an F150, mid level for about $20,000. If you do the math and adjust for inflation the same vehicle is 49,500. You could get a base model F150 for $11,000, which is $27,200 adjusted for inflation. Even saying that government regulations added 25% to that your still not even in the ballpark on a base model, let alone a mid-range spec. Your math does not add up. If you want to know who to blame, look in the mirror. Do you have a retirement account, do you own stock or a mutual fund? If you do your demanding higher stock prices and dividends, your constantly demanding that the company generate more revenue and cut more costs to consistently generate a profit. How do they do that: jack the prices up and drop the cost of manufacturing. That means outsourcing manufacturing and charging crazy high prices for the same good or service. American greed is to blame, so suck it up and pay or drive a used vehicle where the cost to fix it becomes ever higher, because guess who owns the parts companies: you guessed it, someone that demands a steep return on investment....
@@cle_roknn3742 of wise ass then explain why a f150 lariat was around $55k in 2019 then in 2024 the same truck in now $70k? Stop justifying reckless government spending on bullshit wars and paying for illegals to get free shit.
People also need to remember the Ford trucks of today weren't the Ford trucks of yesterday. To finance a truck that long with the unreliability of these vehicles these days it's not worth it. And when the thing goes out of warranty look at the cost of repairs that will come out of your pocket on top of that car payment. If these trucks were reliable and will go 10 years without any issues maybe but personally for me I would never finance a car 5 years. The highest I've ever gone is 4 years. The highest I ever paid for a car payment was $411 a month and that was back in 2001. Will never finance a truck these days. But most people are uneducated and they don't know what they are getting into until after the first couple of years then they're going to get sick of making that payment. They also have to factor in are you going to develop any health issues in that first 7 years or how do you know you're not going to lose your job. Anybody could be on the chopping block with their job in this economy in this day and age. Doesn't matter if you're a white collared or blue collar worker you know anybody can lose their job even at the corporate level. Not worth taking the risk of making a payment that long.
Definitely excellent points .the last we bought new was 2015 Acura rdx we did not buy til the house was paid for and 75% of our income went for the car but was 15 months,at.9% total he paid $320 total interest for the vehicle on a 40k price. Still runs great.but today, the astronomical cost of vehicles today and high interest rates for such subpar quality.its best to maintain what you have.
Someone answered my comment by saying if I had the money I would buy one of these overpriced vehicles. My answer is no way. I’m a 73 yr old Vietnam Veteran & I bought my first “muscle car” in California after I came back. It was a 67 GTO, 400cid 4 spd & cost me $3,800. It was a simple straightforward went-like-hell vehicle but was totally solid, not overdone like today. Like Scotty in Star Trek once said “the more they over-tic the plumbing, the easier it is to stop up the drain”.
Another cost that should be figured in is depreciation. That can be major. In addition to loan interest, sales tax, property tax and insurance. Go ahead and buy one, you will never be able to retire.
In 2023 when my wife and I bought a new car. We couldn’t afford what we wanted so we ended up buying a cheap Toyota under 25,000 so we could have something with the warranty and not a large payment. Some of these new prices are just ridiculous today For a nice truck.
I can afford these trucks, but I aint going to pay absolute stupid money for a DAMN truck .Aint playin their foolish games !!! Paid $20,000 for a new 1997 F150 .I thought that was outrageous , Ill keep drivin a 27 year old truck !
That's why you can afford those trucks, you don't waste money on those things. Between the interest and depreciation, people are losing tens of thousands of dollars on those things.
Top of line f150 in 1997 was over $30k msrp. Must have had great discounts. Even the ones magazines tested at the times were $26-28k. Rebates used to be more common in the past.
I usually used to buy only clean title cars but the last 2-3 years I’ve turned to Copart and IAA for lite or theft recovery trucks. Almost bought a new truck 3 yrs ago and when showed up at the dealer they said it was sold. Now I just bought a 2019 Ram 1500 quad cab. All it needed was front bumper and new bed. 33k miles V6 with 4x4. All finished at about $11.5-12k
Congratulations on your new 25 silverado! Chevy is the one brand that is checking every box for me right now. If I was buying today it would probably be a chevy
They’re delusional, my present HOUSE payment is 852 mo. and it’s that high because of insurance going up thanks to southern hurricane damage people living elsewhere have to eat. There’s no way I’d pay that much for a vehicle.
You got that a while back, or its really small or old... you can't get hardly anything in a house for that price in 2024. Houses that were 150-200k 8 years ago are like 400k+ today.
@@pl6935 why would you if you could? Honestly I could easily afford 100k truck right now if I wanted... no I won't do it, I'll buy something cheaper, thanks, its not worth that price.
The reason they will not go down in price is because of unions. The employees make incredible money and then they manufacturers just pass the cost to the consumer.
I see a huge increase in apartments across the country and everyone says they can't afford a new house. These apartments are lined with very expensive cars and trucks and that is why they can't afford a house. I drove crappy cars until I had my house then I moved up in vehicles. People now get strangled by their car payments and will never have any equity in anything.
Even with a cheap car, houses are too expensive. Homeowners bought high to begin with, and then raised prices even more to gouge the next buyer. And real estate investment conglomerates bought up millions of homes to keep them off market and force people to rent.
I’ll play this game for a second. I know a few people who have nice cars and live in apartments. When asked they all seem to give the same answer and it kinda makes sense. They’ll never be able to afford a house so why not enjoy the small luxuries that are still attainable. If they saved that 1k a month that would be 12k a year. Do that for a decade and then youll start to have a down payment at today’s prices. With the goalposts constantly moving they’d have to save several thousand a month for a decade. They don’t want to work 50 hours a week and scrimp and save for a decade or more.
I talked to guys at work who drive new expensive trucks, they said do whatever it takes to get military disability check like $4200 a month. This is how they keep 2 brand new expensive vehicles at all times. We make 100k plus already at work.
I financed my suv, and by the time I finished paying it, I had already enjoyed driving it for a long time. :) and making some income. But yes used is fine too.
You are exactly right. I have bought and leased several new vehicles. At least, the last one was a 2010 Ford Focus, which I am still driving. I paid it off in about 3 years, so I have made up the interest. I will never finance or lease another vehicle. It is awesome not being a slave to the lender.
I would like to add to that. Yes, you need to have the ability to pay cash. However, if the interest rate is low, let them finance everything and invest your cash. I bought a 64K vehicle, financed the whole thing at 1.9 percent, I probably made at least 16K by NOT PAYING CASH.
I don’t know why anyone would need a 64K vehicle. If you had bought a vehicle, you could pay cash for, and invested that money, you would probably made more, and you wouldn’t be a slave to the lender. Dave Ramsey would tell you the same thing, and so would Warren Buffet.
i refuse to pay 70 K for a new truck. I went out and bought a 2005 Nissan truck for a few thousand. It runs well, but I will admit it is not pretty. I am lucky that I live in farm country, where beater trucks are the norm.
i paid 3k$ for my truck on halloween 2000.still driving it.drove it 16 years.restored it over 4 years, now on life number 2.should last the rest of my life.runs like the day i bought it.seemed senceless to trade in the most reliable vehicle i ever owned.let me set once in 20 years of driving when original starter failed.it may be old, but id trust it to go anywhere.
Kelly blue book said my truck (years ago) was worth 11-14k trade. Dealer offered 1500bucks. I stood up walked out bought from another dealer but I KEPT my old truck. Still got her still reliable. So glad they did that to me.
Jason, please do some videos about how to buy really old vehicles for under $9,000 and then know which ones can be maintained or restored economically.
I read a while back that it is cheaper for car manufacturers to keep on making automobiles than it is to put huge amounts of staff on payed “home leave”, make staff redundant incurring huge pay offs and incur all the hassle of dealing with thousands of suppliers. They work with gov departments and banks to keep the wheel in motion still turning whilst hoping for an up turn in the economy.
@@wittelarry1 You are spot on. I bought a 2019 Silverado Trail Boss in 2021 and the registration is north of $500. 2024 was the first year it was under $600. It must be close to $1,000 for these new trucks
I’m 54 years old, my wife and I make almost $200k a year. I drive a 2018 Honda civic, she drives a 2013 Tahoe, and we have my old 2001 Chevy truck that stays home for doing truck things. I never understand how, or why, people spend so much on vehicles. Nobody cares what you drive people.
The car market is in big trouble. During the pandemic, dealerships got away with charging well above MSRP because of low interest rates and government handouts, but now that rates have normalized, prices are no longer sustainable. Many consumers are stuck in loans where they owe way more than their car is worth, and dealerships are sitting on a mountain of inventory they can't move. This is going to ripple through the economy-people are trapped in debt, jobs are at risk, and the only way out for automakers is to slash prices. The auto market is heading for a major correction.
Nice video! You hit the nail on the head. Cars/Trucks are just too damn expensive now. The middle class has been pushed out from being able to affordably buy a car it's sad. As you said, no one should pay MSRP though so at least that brings the cost down some. These costs still have to come down, it's got too inflated over the past couple years.
This is exactly why nobody is buying these new overpriced trucks. Dealers and manufacturers don't understand that a majority of folks aren't going to pay this much for something that the excitement fades in 60 to 90 days after purchase. Only problem is payments don't disappear in 60 to 90 days.
If you can afford $1600 for a car payment wtf are you paying for rent Pfft...can you afford to eat? What about the full coverage insurance cost! SMH! Yeah, HARD PASS!
I haven’t bought a car I couldn’t pay cash for in 30 years. Liability insurance less than $400 a year. My 2008 Toyota Sienna serves as 7 seater with seats up and a truck with seats down. 15 years old and cleans up like new. Last Toyota had almost 300,000 miles with no major problems. I still see it around town. Don’t be whining about the price of eggs and never going to able to retire if you keep buying new cars. Up until 30 years ago I threw money down the drain on new cars. No savings, living paycheck to paycheck until I accepted the fact I simply couldn’t afford car payments even though I considered myself middle class.
All the data I watch says within 3 weeks the entire auto industry will be fully collapsed! Middle class has been the main buyers but they have been destroyed. Dealers will have to handvover keys and titles in order to stop the financial bleeding they are having now. Great time for us who have prepared and know the true facts!
100% insanity. I put down $40k on my 2022 Tacoma. Tax and delivery out the door was $44.5k. Ran out of cash and had to finance the taxes. How do people justify $1000+ monthly? Freakin nuts!!!!
There are over 20 million millionaires in the USA. And many of them have families, so there's a lot of people who have high spending ability. Then there are a lot of people who make high six figure incomes.
@@is6566 The lucky ones became part-time realtors and rode the massive price-gouging by home sellers. Most of them inherited decent money and then kept it in stocks. Not many people make that money by bootstrapping. The rich become richer.
@RickActual i understand that. I'm an older guy. College tuitions are behind me. That said this whole acceptance of $1k monthly payments have come out of no where
I'm not at all defending dealerships or manufactures in anyway but just wanted to add that it pays and is still possible to be a smart shopper if you're in the market. South Texas here near San Antonio who just purchased a 2024 1500 Silverado LT, nicely enough optioned, for $39,000...$42,000 out the door at 1.9% interest. There are still deals to be had everyone, and we all know it's becoming more and more a buyers market. These dealerships still have to move metal at the end of the day. Just be flexible and not be afraid to walk away if the numbers don't work for you.
It is insane that the car payment higher than my house payment. All the car and truck companies in US should declare bankrupt and let the China take over car segment. Seriously.
Just went on 21yrs with my Z71 Silverado,still Nice,always addressed ANY ISSUE RIGHT away,pretty much rebuilt ENTIRE truck through the yrs,and that's why I'm keeping it,,I KNOW WHAT I HAVE,,,220K,ALL THE TYPICAL GM B.S. PROBLEMS,AND THE REST WAS WEAR AND TEAR,,,STILK THE BEST TRUCK I EVER OWNED,,,,189K ON ORIGINAL ALT,200K RAD,189K CV JOINTS,9OK TRANNY,150K REAR,200K ALL NEW AC SYSTEM,189K BODY MOUNT BUSHINGS,200K CENTER LINK,PITMAN ARM,TIE RODS,160K BRAKELINES,220K WATERPUMP
I had planned on buying a new truck but when I checked with my insurance company and the 3 choices I had picked were going to raise my rates from 400 to 500 dollars more each 6 months. I haven't had an accident in 15 years and my credit is excellent. The girl at the agency said with all of the new electronics in the trucks it cost so much to fix them when a claim is filed that that is the reason the rates are so high. I'm just going to drive my 2011 Silverado until it stops in the middle of the road.
Back in june i bought a 2024 titan platinum reserve. Original msrp $69k but paid an OTD price of $59k. O% apr for 60 months and no money down. Monthly payments are below $1000. So far extremely happy with truck, plan to keep it for a really long time.
Thought about replacing my 14 Hemi RAM until I went to a dealership....they are living in a different world. Crazy MSRP's....not even close, maybe a $25k price cut.
Jason... here is the deal. Folks have used the increase in value of their homes (home equity) and have rolled all of these "higher" priced cars, Including Navigators, into their low interest rate mortgage payments... because as we all know, housing never goes down. The lucky ones who overpaid for a house and have "low interest rates" were able to do this as home values increased since COVID. The suckers got caught with their pants down thinking higher wages and plentiful jobs were here to stay and went ahead with the crazy monthly payments. It's going to be a blood bath after the election as Corporations no longer have their hands tied behind their backs and layoffs will begin. It won't matter if you've rolled your car payment into your mortgage or if you are outright paying over $1K in a payment. Americans are out of cash and soon they will be out of jobs... God help us all... Again, for the prudent ones, deals will be coming down the line and bailouts for the car manufacturers ala 2008... again...
Recent truck shopper here. I have yet to make a purchase. There is one sound you can make that scares the living s*** out of a salesman...picking up your keys from his/her desk. Remember that. You have all the power. Don't put up with an ounce of BS. For those of us that can afford to wait, I feel a great price reset coming in mid to late 2025. 2024 and even 2023 models still on a lot somewhere will be an absolute steal. But when I mean steal I mean $60k trucks marked down to prices they should have been selling for to begin with. Best of luck to all of you.
I recently did some construction work for a relative and do not own a truck. Had materials delivered by the home improvement store and borrowed an old fashion standard cab pickup from the son to move some other stuff. My 15 year old sedan with a huge trunk was more than adequate for moving around power tools and saw horses. It makes more sense to pay a delivery charge and give the kid some cash than take on the financial burden of owning a modern truck.
I left a previous comment and I'm going to leave another one. Why in the hell would you spend anywhere between $1000/ 1900 on a truck when you can take that amount of money split it in half make a truck payment and put the other half towards the house payment. Completely stupid. These trucks are computers on Wheels they're going to break and then you're going to spend a fortune fixing them and then you're going to be in a jam. Better yet if you're going to spend $60 to 100,000 on a truck why don't you completely take an older truck to a customizing shop and have them customized and rebuild the car from the inside and out for that amount of money. Then you can put what you want in the car and what you don't want. The truck will be more reliable than what you get out of a factory and for the amount of money you're going to put into that you'll basically have a brand new truck And you can put less tech in there and it'll still be more reliable. A truck is a depreciating asset a house payment goes towards an appreciating asset. Use common sense don't make stupid truck payments like that. And just remember whatever you like in a truck you can always find it aftermarket when they customize a vehicle.
you are getting a really bad in shape old problematic house, if you can even find one, at that low of price. Houses are insanely expensive in 2024... Rent often is costing too much, and most mortgage payments are over rent.
@@AyaWetts there are deals out there in the housing market at this current time. It just depends on what state you're in and where you want to live. There are plenty of people in bad situations right now where they're over their head and there's a lot of defaults. Housing prices will come down depending again on where you live. People have too many wants in their lives and they should concentrate on their needs. That's why there's a lot of default on car loans and house payments and banks are taking it all away. But again like I said if you can get into a house it's better to put that money towards a house then a car because you will lose in a car it will not appreciate in value. The people who bought those high priced cars during covid from all those dealerships ripping people off now those cars are nowhere worth what they were. Bottom line is a modern car is a losing investment. If you need to have all the bells and whistles the best thing to do is to lease these cars because they're a fortune to fix and let the leasing company fix it. That's my suggestion to a lot of people or pay cash and get a good deal. If you want a good deal on a car depending on where you live you might want to search the surrounding states for small dealerships cuz you will get better deals elsewhere. I live in California if I'm going to buy a new truck I'm going to search the surrounding states California is a rip-off. I saw your name and I knew a girl named Aya LOL. 🤣 Eventually some point I'm moving out of the United States and moving to the philippines. Not going to live the Western lifestyle here anymore. Until corporate greed leaves this country and around the world life will not get better for human beings it's only going to get worse here in the states. Going to live a simplistic life in another country.
@@westcoastronnieOC714 If you can find a good deal, maybe... but they are rare and there aren't enough for everyone... but yeah I'd never waste money on a vehicle like that, but I'm normally on a motorcycle anyways, and spend a lot less. I think things are a lot worse off and everything is so close to crashing in a major way and many people are oblivious and just trudging along.
I have a 98 Silverado Z71 with 95K miles on it. Looks almost brand new. I’m keeping it forever. I can put a new drive train in it and still be money ahead of these new truck prices and it does the same thing a new F150 or Silverado will do. The GMT 400 OBS trucks are getting expensive now. Only issue is insurance is difficult to get for replacement value. I couldn’t touch a truck like mine for less than 10 grand anymore.
I don't even want it for $100 a month. Together with gas, insurance, maintenance, repair, pollution taxes, City taxes, traffic jam taxes, extreme parking fees, tunnel fees, ferry fees, i can't afford it.
I retired in 2020 and decided to buy my "old retired guy" pickup. Paid cash for an 04 F150 4X4 Crew cab with 80k miles and a rebuild title. Perfect for me and 0$ a month. I love it.
Something is fishy. Here in Seattle area which is ultra high income area by the way of course, you can easily get a brand new 2024 STX 4 door for like 47k. This is from Mullinax Ford in Olympia WA. They also have 2 door 8 foot bed work trucks for like 35k or something brand new. LOTS of cheaper stuff brand new. I myself just bought a used 2014 King Ranch with only 85k miles in Seattle I paid 16,500. That's awesome prices. I have waited like 2 years and finally there are good prices for used trucks.
And just becuase you can afford a it doesn’t mean you should. I have a 810 credit score, drive a 15 5.0 payed off f150 and wife wants another truck. We r going the smart thing and looking for a newer Nissan Frontier. If if I catch a desperate dealer I’ll buy her a new 24
I've paid cash for my last 6 new trucks. My daily driver is a 2017 Ram 3500 crew cab long bed 4wd with a high output 6.7 Cummins. My spare is a 99 Ford 2500 2wd crew cab short bed with the 7.3 diesel.75K miles on my ram and 125K miles on my ford. Also have a 89 Jeep wrangler I use as a farm vehicle. Then there are my 4 Harley's: bought all used and paid cash.
I can't believe we're living in an age where leasing is somehow the only way for a lot of people to buy new vehicles. Dealers charge ridiculous interest for payment on already overpriced cars. For a lot of folks who don't have amazing credit scores they're paying 10k+ extra for a new car on payment. Paying cash you still have to deal with crappy dealership add-ons and mark-ups. I crunched some numbers with Toyota and realized my best option for buying anything from them is actually thru leasing where they put a very tight leash on what should be my car. 😂
Interest is why I haven't purchased a new truck. I went to buy a Tacoma earlier this year with an 850 credit score and $2000 down. I walked because they wanted 8.2%.
I just bought an old chevy truck for 6000...it runs and drives great....same truck as my first truck,I fkn love it... no computer...air,gas,spark....nice and easy...350,auto....will outlast those trucks...it's a 1968 and the metal is real America stuff...
We like to keep our vehicles at least 15 years (kept my last diesel truck 17 years). During the time of ownership, we put $600 away a month into a savings which is currently paying 4.1%. Sell the old truck private party, add cash and buy a new one. Why $600 if we go 15+ years? Multiple vehicles and no payments. So about evey 7-8 years buying something new to replace a 15+ year old vehicle.
I’ve got a 2021 Sierra Denali Ultimate, engine replaced at 15,000 miles, currently has 33k, that is now paid off. Runs pretty good, but I will never purchase another new vehicle, at least not off the lot, unless I win the lottery. Retired twice now, 22 years in the USAF and 15 for Boeing, early out.
1st buyer has fairly little problems with them. Once they are out of warranty and about 80K-100k then the issues start. Ford Ecobooms, good luck trying to afford repairs on them. I have a 2020 in the garage, 3.0 Ecoboom. Timing chain job is 29 hours. x$150 or so an hour is what people are paying at shops. Plus parts. That's a $7-10k repair.
61K for a half-ton truck. SMH. A truck that can barely pull your RV or boat, much less can't pull a 83"x14' 5000 lb dump trailer with 5 tons of gravel in it (legally). I hope no one is this ignorant. Poor investment.
My payment on my ‘23 jeep truck: Zero. Cash. Drove dumb little cars until I could afford it. It’s a very different experience for cash buyers. I recommend it. It’s a blast - fun at a dealership? Yep.
So many people drive new cars in Dallas area. In my head it’s that everybody is uber wealthy. But really it’s that a lot of people are living beyond their means, probably. Thanks for the video.
After decades of buying new I've recently bought 2 used vehicles. 1993 f150 132000 mi 300 - 6 manual trans. $3500.00 1998 camry 129000 mi. $3100.00 Both run like a top and next no rust which is nuts for the midwest. I am never buying new again. Almost 60 now and no way would I pay these prices. You guy keep buying new and leave the old cars for me please.....
Worst truck market in history. Ultra-inflated prices for sub-par quality vehicles. I will never, ever buy a new truck again. Those days are gone. Thanks for the video, Jason.
@@jscott4431 vert true
Amen brother
@@Azureblossom You can get a Honda Ridgeline for $40,000 That's not bad. Reliable model to
@@bikerguy5829That's a van with a bed
@NorthN2TheEast A great van :) FX4 F150 was $40k 20 years ago with a few options. That is $66k inflation adjusted. Prices have stayed the same for 20 years adjusted for inflation.
I recently bought a 2008 Mercury Grand Marquis with 38,000 miles. I paid $6,000 for it. My payments are zero hundred dollars a month.
Those are dang good cars too
Perfect
Will go at least 380K miles with good maintenance
@johanexxx really? I did not know. I will look into it right now.
I bought a 2014 Nissan Altima for 5,000 in cash in 2020🎉🎉🎉🎉🎉 still going strong!!!! The new “American Dream” debt free🤑🤑🤑
anyone who pays 60k,70,80k for a truck has to have their head examined
Dude the Tacoma TRD Pro is now up to 67k. This world is FUC*ED.
It depends man some people have the means too but a lot of people will buy these trucks living paycheck to paycheck paying that note which o agree is ridiculous
This has been pretty normal for 20 plus years. 2004 F150 FX4 was $35-40k new. Inflation adjusted its the same price $62k. Median income the was $45k, which is about $75k inflation adjusted, again about the same as now. Basically truck prices are the same and so are incomes.
Or in a few years when they are 90k, 100k, 110k they will look like geniuses
@@jizzyjake6783they're already 90 😂
600 bucks a month for a payment hurts the wallet even in Good Times
Depends on your income I guess.
@@konroids4272 or whether one lives w/ mom and dad.
income or not it’s still a stupid payment
@bjank4598 600$ a month for someone who makes 6000$ a month is not a whole lot.
890 a month for mine..but i choose too. is it crazy yes..but will it be paid off by next year yes
So basically Mortgage payments for a truck 😒
Correct
mortgage payments are 2000+ nowadays too 😪😪
At least with a mortgage, your house value shouldn’t depreciate 60% over the life of the loan.😮
My mortgage payment is 1907 on a 310K at 2.75 I bought it under TRUMP administration when interest rates was at an all time low.
My mortgage payment wasn't that high on 2018. I paid way extra to get it paid off, but the minimum was around $700
Just work 5 jobs 24/7/365 just to afford a base 2 door Wrangler sport with crank windows. This is the new reality we are all living now.
Work until you’re dead… be a man 😆
Unless you lower your expectations buy a used vehicle for Cash that you SAVED
If you can't put down $30k or so on a $70k truck, you have no business buying it. A $1600.00 car payment is insanity and a death sentence you gave to yourself.
@bobcook8576 on the flip side if I got the deal for 0% I'd be much smarter putting zero down and letting my 30k make me 10% in funds
Unless that 70k truck is used as a business, you don’t need it. Anything you need to drag with it that isn’t for making money is also a waste and you should sell.
@@Nun195 depends on income/net worth. If someone makes 200k and has a net worth of 2 million buying a 70k vehicle isn't going to sting that bad financially. Someone with a 100k net worth that makes 70k has no business buying a 70k vehicle if they want to win financially. It's all perspective.
If you put 30k on a American Junk you fucking stupid never do that
Those 30 grands are gone the next morning
If you doing financing do it rigt dont give away easy money fot the salesman and lender
You crazy
The only brand you want put up money up front is a Toyota if you ever sell it your not loosing such
I'll take the 30k, buy a used beater and let 'er buck.
I like to think of it as a per day cost... for that $95k Expedition at $2100 per month, that's 70 bucks a day just for the priveledge of using that vehicle. Imagine what you could do with an extra 70 bucks in your pocket each day in terms of saving and/or paying off other bills instead of dumping it into a depreciating asset.
Yep, imagine putting that payment into a mutual fund returning 10 percent for five years instead of into a depreciating asset for five years.
Thats a cup of coffee and a pack of smokes
Not just that. It’s $70/day for the luxury of something that sits in your driveway or in a parking spot 90% or more of the time. Unless that vehicle is making you money, or you are independently wealthy enough to absorb the depreciation, that’s about the most idiotic financial decision you can make.
@@jizzyjake6783 and a fountain drink.
One could buy a new Maverick with the cost of the interest alone! Absolutely wild.
Thats why i drive old cars . The newest one i have is a 2014 Lexus. I admit im a cheapskate but at least Im not paying basically a mortgage for a vehicle
I still drive my 1999 dodge ram that I bought used back in 2003.
I agree with not purchasing anything too expensive.
I enjoy my 2014 Porsche Cayenne Platinum Edition that I bought on January 3, 2021.
Let's Roll!
Wolf Alaska
🐺
So glad I built a shop with a lift so I can repair my old cars myself. Cant imagine paying $100k for a Ford thats not a GT40.
Fact.
Great job being out there on the ground showing us the truth! It's insane how ridiculous these vehicle prices have gotten.
Sure are crazy times
@@Jason-Samko Yes! Thank you very much. I keep reminding my kids they have it rough between the cost of automobiles and real estate.
@loosescrews8106 very hard times for the younger generation to make it today
I appreciate all the work that you do. Watch all of your videos. No fluff straight to the point.
Thank you. Greatly appreciated
The 67 GTO I got in 1972 & it was used. Belonged to an insurance salesman who drove from one end of California to the other. He wore it out so the dealer replaced the entire drivetrain & was basically a new car when I bought it.
First year of the 400 👍.
The negotiation process begins at the MSRP price, not at the addendum mark up price. Anytime you notice a dealership hide the window sticker, RUN for the hills.
It’s literally against the law to not post the “monroney“ sticker
For some strange reason, these dealerships that avoid displaying the sticker so they can deceive the consumer. Whoever is responsible for ensuring that they display the sticker, should get with the program and do their jobs.
I’ve only ever purchased a new vehicle once in my life. A 2000 Ford Excursion Limited, 4x4 V10. It was $45,000. 25 years later, I still own it and drive it everyday, everywhere. It has 350,000 miles on it and it looks and runs like new. My total on maintenance for 25 years is $9,600. There is no way these new vehicles will last no where near that. I’m 70 years old and my Excursion will be with me til I’m gone.
Holy moly. How much have you spent on gas with a v10 over 350k miles??????
Honest question - do you kick yourself for not buying the diesel option?
35k gallons of gas, give or take. Average mpg is 10 🥲
@@donc6781 Nope, the v10 was way more reliable than the 7.3 or 6.0 and is only a fraction of the cost to maintain. I’m not bashing the 7.3, I’ve had plenty of them, but that’s the facts.
@@macscvelopopperdonuts2169 I don’t know, I look at it as, how many average people have spent thousands upon thousands of dollars on multiple vehicles in the past 25 years and I still have the same vehicle. It owes me nothing.
I have always been car poor. My most expensive purchase ever was 6k cash. My last borrowed car payment was $150 a month in 2001 for a 1996 Toyota pickup. I’ve been driving since 1991. All cash all old beaters. Point A to Point B. Still never heard of anyone cared. I still got there though regardless of other people’s thoughts on my ride. I love old cheap and unwanted
👍👍🙏🙏
This video should go viral. U “killed” it. Straight to the point, No BS and a ton of priceless datas. Sharing it with my audience. Bravo Monsieur .
Thanks. Glad you enjoyed it
The price wouldn’t be that bad but they build them like crap. They’re really cheap. They’re not worth it.
No, the price is THAT BAD ! You must be rich or young if the prices are ok to you.....I paid $60000. for my house on 2 lots in St.Louis county. They cost more than my house ! Trucks used to be the cheap transportation made for work. Now they're a status symbol made from plastic and alum for the ultra rich.
Great vid! Another thing people never really think about is the cost of insurance on top of that high payment, for example my state of Nevada is #4 in the country for the highest cost of insurance
And insurance has doubled in last 2 years
Some of these vehicles cost more than my house, that came with 3 bedrooms and 2 baths and acre and half land!
Agree
I'm keeping my 2002 silverado forever, 200k and still runs like new. No payments.
How do you completely price out your customer base and expect to stay in business?
It’s not manufacturers. Blame horrific government spending. Your dollar went from 40 cents to 15 cents in value since 2020. A donut a single donut went from 79 cents in 2019 to 2.39 in 2024. Just like f150 xlt trims went from $35k to $50k. In 2019 you could of gotten a lariat for $50k
@@BrianWaller-qe7gr not even close to reality. In 1990 you could buy an F150, mid level for about $20,000. If you do the math and adjust for inflation the same vehicle is 49,500. You could get a base model F150 for $11,000, which is $27,200 adjusted for inflation. Even saying that government regulations added 25% to that your still not even in the ballpark on a base model, let alone a mid-range spec. Your math does not add up.
If you want to know who to blame, look in the mirror. Do you have a retirement account, do you own stock or a mutual fund? If you do your demanding higher stock prices and dividends, your constantly demanding that the company generate more revenue and cut more costs to consistently generate a profit. How do they do that: jack the prices up and drop the cost of manufacturing. That means outsourcing manufacturing and charging crazy high prices for the same good or service. American greed is to blame, so suck it up and pay or drive a used vehicle where the cost to fix it becomes ever higher, because guess who owns the parts companies: you guessed it, someone that demands a steep return on investment....
@@cle_roknn3742 of wise ass then explain why a f150 lariat was around $55k in 2019 then in 2024 the same truck in now $70k? Stop justifying reckless government spending on bullshit wars and paying for illegals to get free shit.
People also need to remember the Ford trucks of today weren't the Ford trucks of yesterday. To finance a truck that long with the unreliability of these vehicles these days it's not worth it. And when the thing goes out of warranty look at the cost of repairs that will come out of your pocket on top of that car payment. If these trucks were reliable and will go 10 years without any issues maybe but personally for me I would never finance a car 5 years. The highest I've ever gone is 4 years. The highest I ever paid for a car payment was $411 a month and that was back in 2001. Will never finance a truck these days. But most people are uneducated and they don't know what they are getting into until after the first couple of years then they're going to get sick of making that payment. They also have to factor in are you going to develop any health issues in that first 7 years or how do you know you're not going to lose your job. Anybody could be on the chopping block with their job in this economy in this day and age. Doesn't matter if you're a white collared or blue collar worker you know anybody can lose their job even at the corporate level. Not worth taking the risk of making a payment that long.
Excellent points
Definitely excellent points .the last we bought new was 2015 Acura rdx we did not buy til the house was paid for and 75% of our income went for the car but was 15 months,at.9% total he paid $320 total interest for the vehicle on a 40k price. Still runs great.but today, the astronomical cost of vehicles today and high interest rates for such subpar quality.its best to maintain what you have.
Someone answered my comment by saying if I had the money I would buy one of these overpriced vehicles. My answer is no way. I’m a 73 yr old Vietnam Veteran & I bought my first “muscle car” in California after I came back. It was a 67 GTO, 400cid 4 spd & cost me $3,800. It was a simple straightforward went-like-hell vehicle but was totally solid, not overdone like today. Like Scotty in Star Trek once said “the more they over-tic the plumbing, the easier it is to stop up the drain”.
Another cost that should be figured in is depreciation. That can be major. In addition to loan interest, sales tax, property tax and insurance. Go ahead and buy one, you will never be able to retire.
No body who buys a new car cares about depreciation, if they did, they would buy used.
In 2023 when my wife and I bought a new car. We couldn’t afford what we wanted so we ended up buying a cheap Toyota under 25,000 so we could have something with the warranty and not a large payment. Some of these new prices are just ridiculous today For a nice truck.
@@Beyondthebox11 love that. Stsy within your means and don't go truck broke
Ford Escape was $21k back in 2016 for a fairly well equipped one. Change the name and inflation and its $40k for a Bronco Sport🤣
I can afford these trucks, but I aint going to pay absolute stupid money for a DAMN truck .Aint playin their foolish games !!! Paid $20,000 for a new 1997 F150 .I thought that was outrageous , Ill keep drivin a 27 year old truck !
$20,000 in 1997 should be around $40,000 in 2024 adjusted for inflation, which should the price of an new entry level F150.
@@ale4010 But my truck is not entry level in 1997, top of the line 4x4
That's why you can afford those trucks, you don't waste money on those things. Between the interest and depreciation, people are losing tens of thousands of dollars on those things.
Top of line f150 in 1997 was over $30k msrp. Must have had great discounts. Even the ones magazines tested at the times were $26-28k. Rebates used to be more common in the past.
I usually used to buy only clean title cars but the last 2-3 years I’ve turned to Copart and IAA for lite or theft recovery trucks.
Almost bought a new truck 3 yrs ago and when showed up at the dealer they said it was sold.
Now I just bought a 2019 Ram 1500 quad cab. All it needed was front bumper and new bed. 33k miles V6 with 4x4.
All finished at about $11.5-12k
Wait until your have puts tariffs on . That 61 will be 85. Oh, just we wait. Not long , though. The pain train is pulling into the station.
Just bought a 1992 Chevrolet 1500 for 1k and new daily driver. Thank you god always
Perfect
Shelter, food, transportation
Choose any two
Lots of people are combining their house and their transportation. It’s genius! 🚗⛺️
And $600 for a Maverick is absolutely nuts
You had me laughing enough on this one to sub. I`ll be at the Chevy dealer in 2 days or so to haggle over a `25 Silverado I ordered. Should be fun.
Thank you for your sacrifice. 🫡
Congratulations on your new 25 silverado! Chevy is the one brand that is checking every box for me right now. If I was buying today it would probably be a chevy
They’re delusional, my present HOUSE payment is 852 mo. and it’s that high because of insurance going up thanks to southern hurricane damage people living elsewhere have to eat. There’s no way I’d pay that much for a vehicle.
But if you could, you would.
@@pl6935You ass-ume everyone would just because YOU would.
@@pl6935nope
You got that a while back, or its really small or old... you can't get hardly anything in a house for that price in 2024. Houses that were 150-200k 8 years ago are like 400k+ today.
@@pl6935 why would you if you could? Honestly I could easily afford 100k truck right now if I wanted... no I won't do it, I'll buy something cheaper, thanks, its not worth that price.
OMG, cars are incredibly expensive, the sad is that those prices will not go down like before.
The reason they will not go down in price is because of unions. The employees make incredible money and then they manufacturers just pass the cost to the consumer.
I see a huge increase in apartments across the country and everyone says they can't afford a new house. These apartments are lined with very expensive cars and trucks and that is why they can't afford a house. I drove crappy cars until I had my house then I moved up in vehicles. People now get strangled by their car payments and will never have any equity in anything.
well said.
Even with a cheap car, houses are too expensive. Homeowners bought high to begin with, and then raised prices even more to gouge the next buyer.
And real estate investment conglomerates bought up millions of homes to keep them off market and force people to rent.
Most apartment rents are higher than my mortgage. I don't get it.
@@theontologist blah blah blah blah
I’ll play this game for a second. I know a few people who have nice cars and live in apartments. When asked they all seem to give the same answer and it kinda makes sense. They’ll never be able to afford a house so why not enjoy the small luxuries that are still attainable. If they saved that 1k a month that would be 12k a year. Do that for a decade and then youll start to have a down payment at today’s prices. With the goalposts constantly moving they’d have to save several thousand a month for a decade. They don’t want to work 50 hours a week and scrimp and save for a decade or more.
I talked to guys at work who drive new expensive trucks, they said do whatever it takes to get military disability check like $4200 a month. This is how they keep 2 brand new expensive vehicles at all times. We make 100k plus already at work.
If you can’t pay cash you can’t afford…. Never finance a depreciation asset…
Yea right you gotta start somewhere
I financed my suv, and by the time I finished paying it, I had already enjoyed driving it for a long time. :) and making some income. But yes used is fine too.
You are exactly right. I have bought and leased several new vehicles. At least, the last one was a 2010 Ford Focus, which I am still driving. I paid it off in about 3 years, so I have made up the interest. I will never finance or lease another vehicle. It is awesome not being a slave to the lender.
I would like to add to that. Yes, you need to have the ability to pay cash. However, if the interest rate is low, let them finance everything and invest your cash. I bought a 64K vehicle, financed the whole thing at 1.9 percent, I probably made at least 16K by NOT PAYING CASH.
I don’t know why anyone would need a 64K vehicle. If you had bought a vehicle, you could pay cash for, and invested that money, you would probably made more, and you wouldn’t be a slave to the lender. Dave Ramsey would tell you the same thing, and so would Warren Buffet.
i refuse to pay 70 K for a new truck. I went out and bought a 2005 Nissan truck for a few thousand. It runs well, but I will admit it is not pretty. I am lucky that I live in farm country, where beater trucks are the norm.
i paid 3k$ for my truck on halloween 2000.still driving it.drove it 16 years.restored it over 4 years, now on life number 2.should last the rest of my life.runs like the day i bought it.seemed senceless to trade in the most reliable vehicle i ever owned.let me set once in 20 years of driving when original starter failed.it may be old, but id trust it to go anywhere.
Kelly blue book said my truck (years ago) was worth 11-14k trade. Dealer offered 1500bucks. I stood up walked out bought from another dealer but I KEPT my old truck. Still got her still reliable. So glad they did that to me.
Perfect
Jason, please do some videos about how to buy really old vehicles for under $9,000 and then know which ones can be maintained or restored economically.
I have zero expertise in that. Sorry can't help. But I do love the idea of doing it
Somebody must be buying them. They're not stopping building them .
the somebody is the plumber charging you 5000$ to change your water heater, yes
I read a while back that it is cheaper for car manufacturers to keep on making automobiles than it is to put huge amounts of staff on payed “home leave”, make staff redundant incurring huge pay offs and incur all the hassle of dealing with thousands of suppliers. They work with gov departments and banks to keep the wheel in motion still turning whilst hoping for an up turn in the economy.
Facts
The lots are filling up. Stella this is laying workers off and GM and Ford won’t be far behind.
I work for Stellantis. They're, in fact, halting production on most of our vehicles.
Sales tax and Insurance would be insane,
Not counting the extreme registration every year
@@wittelarry1 You are spot on. I bought a 2019 Silverado Trail Boss in 2021 and the registration is north of $500. 2024 was the first year it was under $600. It must be close to $1,000 for these new trucks
That depends iam native my truck was 103000 tt&l was 975
This is a good video..."let that sink in".
I’m 54 years old, my wife and I make almost $200k a year. I drive a 2018 Honda civic, she drives a 2013 Tahoe, and we have my old 2001 Chevy truck that stays home for doing truck things. I never understand how, or why, people spend so much on vehicles. Nobody cares what you drive people.
The car market is in big trouble. During the pandemic, dealerships got away with charging well above MSRP because of low interest rates and government handouts, but now that rates have normalized, prices are no longer sustainable. Many consumers are stuck in loans where they owe way more than their car is worth, and dealerships are sitting on a mountain of inventory they can't move. This is going to ripple through the economy-people are trapped in debt, jobs are at risk, and the only way out for automakers is to slash prices. The auto market is heading for a major correction.
Nice video! You hit the nail on the head. Cars/Trucks are just too damn expensive now. The middle class has been pushed out from being able to affordably buy a car it's sad. As you said, no one should pay MSRP though so at least that brings the cost down some. These costs still have to come down, it's got too inflated over the past couple years.
Agree 100%
This is exactly why nobody is buying these new overpriced trucks. Dealers and manufacturers don't understand that a majority of folks aren't going to pay this much for something that the excitement fades in 60 to 90 days after purchase. Only problem is payments don't disappear in 60 to 90 days.
If you can afford $1600 for a car payment wtf are you paying for rent Pfft...can you afford to eat? What about the full coverage insurance cost! SMH! Yeah, HARD PASS!
Never thought I'd see the day where a pickup would be considered a luxury item.
The car makers has priced themselves out of people’s reach gone be real interesting to see what they cut these sleds down to
20 year loans 😂
So don't even look for a vehicle. Keep your old one till you have the cash.
I haven’t bought a car I couldn’t pay cash for in 30 years. Liability insurance less than $400 a year. My 2008 Toyota Sienna serves as 7 seater with seats up and a truck with seats down. 15 years old and cleans up like new. Last Toyota had almost 300,000 miles with no major problems. I still see it around town. Don’t be whining about the price of eggs and never going to able to retire if you keep buying new cars. Up until 30 years ago I threw money down the drain on new cars. No savings, living paycheck to paycheck until I accepted the fact I simply couldn’t afford car payments even though I considered myself middle class.
Same here.
It's all in perspective, if you had 5k left over a month after you pd all your bills would you even think twice about a 1100 a month payment? Nope
Good video. Cost of the vehicle plus the full coverage insurance required and fuel and maintenance costs... total?
All the data I watch says within 3 weeks the entire auto industry will be fully collapsed! Middle class has been the main buyers but they have been destroyed. Dealers will have to handvover keys and titles in order to stop the financial bleeding they are having now. Great time for us who have prepared and know the true facts!
Objectively incorrect.
@@Nun195 provide counter FACTS!
I'm scratching my head right now when you state the monthly payment. Shocking car market history.
crazy times
100% insanity. I put down $40k on my 2022 Tacoma. Tax and delivery out the door was $44.5k. Ran out of cash and had to finance the taxes. How do people justify $1000+ monthly? Freakin nuts!!!!
There are over 20 million millionaires in the USA. And many of them have families, so there's a lot of people who have high spending ability.
Then there are a lot of people who make high six figure incomes.
I bet none of those millionaires became millionaires by paying $1350+ monthly car loans.
@@is6566 The lucky ones became part-time realtors and rode the massive price-gouging by home sellers. Most of them inherited decent money and then kept it in stocks. Not many people make that money by bootstrapping. The rich become richer.
IMO, the fact that you even had the initial $40k down payment is not typical.
@RickActual i understand that. I'm an older guy. College tuitions are behind me. That said this whole acceptance of $1k monthly payments have come out of no where
I'm not at all defending dealerships or manufactures in anyway but just wanted to add that it pays and is still possible to be a smart shopper if you're in the market. South Texas here near San Antonio who just purchased a 2024 1500 Silverado LT, nicely enough optioned, for $39,000...$42,000 out the door at 1.9% interest. There are still deals to be had everyone, and we all know it's becoming more and more a buyers market. These dealerships still have to move metal at the end of the day. Just be flexible and not be afraid to walk away if the numbers don't work for you.
Very true and congratulations onnyour new amazing truck
It is insane that the car payment higher than my house payment. All the car and truck companies in US should declare bankrupt and let the China take over car segment. Seriously.
👍👍
U.S. taxpayers will be forced to bail out U.S. car companies in perpetuity.
Just went on 21yrs with my Z71 Silverado,still Nice,always addressed ANY ISSUE RIGHT away,pretty much rebuilt ENTIRE truck through the yrs,and that's why I'm keeping it,,I KNOW WHAT I HAVE,,,220K,ALL THE TYPICAL GM B.S. PROBLEMS,AND THE REST WAS WEAR AND TEAR,,,STILK THE BEST TRUCK I EVER OWNED,,,,189K ON ORIGINAL ALT,200K RAD,189K CV JOINTS,9OK TRANNY,150K REAR,200K ALL NEW AC SYSTEM,189K BODY MOUNT BUSHINGS,200K CENTER LINK,PITMAN ARM,TIE RODS,160K BRAKELINES,220K WATERPUMP
I had planned on buying a new truck but when I checked with my insurance company and the 3 choices I had picked were going to raise my rates from 400 to 500 dollars more each 6 months. I haven't had an accident in 15 years and my credit is excellent. The girl at the agency said with all of the new electronics in the trucks it cost so much to fix them when a claim is filed that that is the reason the rates are so high. I'm just going to drive my 2011 Silverado until it stops in the middle of the road.
Back in june i bought a 2024 titan platinum reserve. Original msrp $69k but paid an OTD price of $59k. O% apr for 60 months and no money down. Monthly payments are below $1000. So far extremely happy with truck, plan to keep it for a really long time.
@@Invisible1900 outstanding
Best kept secret in trucks. I bought a p4x 2018. It's best truck I've ever owned. Plan to own until it's beat.
Thats easy when your credit score is perfect.
Thought about replacing my 14 Hemi RAM until I went to a dealership....they are living in a different world. Crazy MSRP's....not even close, maybe a $25k price cut.
Jason... here is the deal. Folks have used the increase in value of their homes (home equity) and have rolled all of these "higher" priced cars, Including Navigators, into their low interest rate mortgage payments... because as we all know, housing never goes down. The lucky ones who overpaid for a house and have "low interest rates" were able to do this as home values increased since COVID. The suckers got caught with their pants down thinking higher wages and plentiful jobs were here to stay and went ahead with the crazy monthly payments. It's going to be a blood bath after the election as Corporations no longer have their hands tied behind their backs and layoffs will begin. It won't matter if you've rolled your car payment into your mortgage or if you are outright paying over $1K in a payment. Americans are out of cash and soon they will be out of jobs... God help us all... Again, for the prudent ones, deals will be coming down the line and bailouts for the car manufacturers ala 2008... again...
Recent truck shopper here. I have yet to make a purchase. There is one sound you can make that scares the living s*** out of a salesman...picking up your keys from his/her desk. Remember that. You have all the power. Don't put up with an ounce of BS.
For those of us that can afford to wait, I feel a great price reset coming in mid to late 2025. 2024 and even 2023 models still on a lot somewhere will be an absolute steal. But when I mean steal I mean $60k trucks marked down to prices they should have been selling for to begin with. Best of luck to all of you.
Who TF is agreeing to these prices!?
Not a lot of people. That what the dealerships are over stocked and can’t move vehicles
I recently did some construction work for a relative and do not own a truck. Had materials delivered by the home improvement store and borrowed an old fashion standard cab pickup from the son to move some other stuff. My 15 year old sedan with a huge trunk was more than adequate for moving around power tools and saw horses. It makes more sense to pay a delivery charge and give the kid some cash than take on the financial burden of owning a modern truck.
I left a previous comment and I'm going to leave another one. Why in the hell would you spend anywhere between $1000/ 1900 on a truck when you can take that amount of money split it in half make a truck payment and put the other half towards the house payment. Completely stupid. These trucks are computers on Wheels they're going to break and then you're going to spend a fortune fixing them and then you're going to be in a jam. Better yet if you're going to spend $60 to 100,000 on a truck why don't you completely take an older truck to a customizing shop and have them customized and rebuild the car from the inside and out for that amount of money. Then you can put what you want in the car and what you don't want. The truck will be more reliable than what you get out of a factory and for the amount of money you're going to put into that you'll basically have a brand new truck And you can put less tech in there and it'll still be more reliable. A truck is a depreciating asset a house payment goes towards an appreciating asset. Use common sense don't make stupid truck payments like that. And just remember whatever you like in a truck you can always find it aftermarket when they customize a vehicle.
you are getting a really bad in shape old problematic house, if you can even find one, at that low of price. Houses are insanely expensive in 2024... Rent often is costing too much, and most mortgage payments are over rent.
@@AyaWetts there are deals out there in the housing market at this current time. It just depends on what state you're in and where you want to live. There are plenty of people in bad situations right now where they're over their head and there's a lot of defaults. Housing prices will come down depending again on where you live. People have too many wants in their lives and they should concentrate on their needs. That's why there's a lot of default on car loans and house payments and banks are taking it all away. But again like I said if you can get into a house it's better to put that money towards a house then a car because you will lose in a car it will not appreciate in value. The people who bought those high priced cars during covid from all those dealerships ripping people off now those cars are nowhere worth what they were. Bottom line is a modern car is a losing investment. If you need to have all the bells and whistles the best thing to do is to lease these cars because they're a fortune to fix and let the leasing company fix it. That's my suggestion to a lot of people or pay cash and get a good deal. If you want a good deal on a car depending on where you live you might want to search the surrounding states for small dealerships cuz you will get better deals elsewhere. I live in California if I'm going to buy a new truck I'm going to search the surrounding states California is a rip-off. I saw your name and I knew a girl named Aya LOL. 🤣
Eventually some point I'm moving out of the United States and moving to the philippines. Not going to live the Western lifestyle here anymore. Until corporate greed leaves this country and around the world life will not get better for human beings it's only going to get worse here in the states. Going to live a simplistic life in another country.
@@westcoastronnieOC714 If you can find a good deal, maybe... but they are rare and there aren't enough for everyone... but yeah I'd never waste money on a vehicle like that, but I'm normally on a motorcycle anyways, and spend a lot less. I think things are a lot worse off and everything is so close to crashing in a major way and many people are oblivious and just trudging along.
I have a 98 Silverado Z71 with 95K miles on it. Looks almost brand new. I’m keeping it forever. I can put a new drive train in it and still be money ahead of these new truck prices and it does the same thing a new F150 or Silverado will do. The GMT 400 OBS trucks are getting expensive now. Only issue is insurance is difficult to get for replacement value. I couldn’t touch a truck like mine for less than 10 grand anymore.
Invest your money on your house or buy a house. Don’t pay more than 600 for a car payment. It’s not worth it
@@castandblast1852 very good advice
First time viewer, I like your no nonsense style!
I don't even want it for $100 a month. Together with gas, insurance, maintenance, repair, pollution taxes, City taxes, traffic jam taxes, extreme parking fees, tunnel fees, ferry fees, i can't afford it.
I retired in 2020 and decided to buy my "old retired guy" pickup. Paid cash for an 04 F150 4X4 Crew cab with 80k miles and a rebuild title. Perfect for me and 0$ a month. I love it.
They must be making 1000% profit. Vehicles don’t cost that much to build they’re on crack 😂
Something is fishy. Here in Seattle area which is ultra high income area by the way of course, you can easily get a brand new 2024 STX 4 door for like 47k. This is from Mullinax Ford in Olympia WA. They also have 2 door 8 foot bed work trucks for like 35k or something brand new. LOTS of cheaper stuff brand new. I myself just bought a used 2014 King Ranch with only 85k miles in Seattle I paid 16,500. That's awesome prices. I have waited like 2 years and finally there are good prices for used trucks.
And just becuase you can afford a it doesn’t mean you should. I have a 810 credit score, drive a 15 5.0 payed off f150 and wife wants another truck. We r going the smart thing and looking for a newer Nissan Frontier. If if I catch a desperate dealer I’ll buy her a new 24
Well said
I've paid cash for my last 6 new trucks. My daily driver is a 2017 Ram 3500 crew cab long bed 4wd with a high output 6.7 Cummins. My spare is a 99 Ford 2500 2wd crew cab short bed with the 7.3 diesel.75K miles on my ram and 125K miles on my ford. Also have a 89 Jeep wrangler I use as a farm vehicle. Then there are my 4 Harley's: bought all used and paid cash.
I can't believe we're living in an age where leasing is somehow the only way for a lot of people to buy new vehicles.
Dealers charge ridiculous interest for payment on already overpriced cars. For a lot of folks who don't have amazing credit scores they're paying 10k+ extra for a new car on payment. Paying cash you still have to deal with crappy dealership add-ons and mark-ups. I crunched some numbers with Toyota and realized my best option for buying anything from them is actually thru leasing where they put a very tight leash on what should be my car. 😂
Interest is why I haven't purchased a new truck. I went to buy a Tacoma earlier this year with an 850 credit score and $2000 down. I walked because they wanted 8.2%.
Yep insane.
Yeah, interest is up. Its nice getting 5% on a CD.
Ford 0 percent for 36 months that’s how I roll
Gm has same thing 0for 36 problem is ..a 80k truck with 20k down and @36 months your payments 1650
I just bought an old chevy truck for 6000...it runs and drives great....same truck as my first truck,I fkn love it... no computer...air,gas,spark....nice and easy...350,auto....will outlast those trucks...it's a 1968 and the metal is real America stuff...
Insanity! Keep them
We like to keep our vehicles at least 15 years (kept my last diesel truck 17 years). During the time of ownership, we put $600 away a month into a savings which is currently paying 4.1%. Sell the old truck private party, add cash and buy a new one. Why $600 if we go 15+ years? Multiple vehicles and no payments. So about evey 7-8 years buying something new to replace a 15+ year old vehicle.
Perfect
You can always refi the loan for no costs when the APR goes down.
I’ve got a 2021 Sierra Denali Ultimate, engine replaced at 15,000 miles, currently has 33k, that is now paid off. Runs pretty good, but I will never purchase another new vehicle, at least not off the lot, unless I win the lottery. Retired twice now, 22 years in the USAF and 15 for Boeing, early out.
The icing on the cake is the fact that all new vehicles are junk that falls apart almost immediately after purchase
Not built like they used to be
1st buyer has fairly little problems with them. Once they are out of warranty and about 80K-100k then the issues start.
Ford Ecobooms, good luck trying to afford repairs on them. I have a 2020 in the garage, 3.0 Ecoboom. Timing chain job is 29 hours. x$150 or so an hour is what people are paying at shops. Plus parts. That's a $7-10k repair.
Love how we have people making videos about how no one can afford trucks or vehicles in general and the car companies are still selling em like crazy.
I paid about $34k for an Expedition-Eddie Bauer back in 2003. $90k kind of makes sense now.
According to an inflation calculator, that $34k is equivalent of $58k in 2024. So, no the $90k still doesn’t make sense.
@@is6566 if you take into account added value its about 97,500$ so its actually priced well.
@@is6566 Dang! we have a huge problem now
@@johanexxxx What’s the added value, haha? It shifting into 2nd gear from D in 2024?
@@bobbykhan4699
All the new safety features, fuel efficiency , driver-assist, and information displays...etc
Wow those prices are insane. Thanks for making it easy and sharing.
Glad you enjoyed it
61K for a half-ton truck. SMH. A truck that can barely pull your RV or boat, much less can't pull a 83"x14' 5000 lb dump trailer with 5 tons of gravel in it (legally). I hope no one is this ignorant. Poor investment.
My payment on my ‘23 jeep truck: Zero. Cash. Drove dumb little cars until I could afford it. It’s a very different experience for cash buyers. I recommend it. It’s a blast - fun at a dealership? Yep.
I love to see them car sittings lot rot…😂😂😂😂 I bought 2012 Lexus is250 f sport 160k for 7k and I’m happy! Facebook Market is the place to go!!!!!!
In September i leased for 5 years (60 months) a 2024 Ford Escape Active AWD with extended warranty for $245 biweekly (490/month) Canadian.
So many people drive new cars in Dallas area. In my head it’s that everybody is uber wealthy. But really it’s that a lot of people are living beyond their means, probably. Thanks for the video.
Many many many are living well beyond their means
Still driving my 2011 Chevy HHR, 127,000 klms. Impeccably maintained, no rust.
As always. Another excellent video
@@charbvin thank you
No stickers on some bc of sticker shock
After decades of buying new I've recently bought 2 used vehicles. 1993 f150 132000 mi 300 - 6 manual trans. $3500.00 1998 camry 129000 mi. $3100.00 Both run like a top and next no rust which is nuts for the midwest. I am never buying new again. Almost 60 now and no way would I pay these prices. You guy keep buying new and leave the old cars for me please.....