DRIVEN TO DESPAIR! People Can't Even AFFORD CARS ANYMORE!
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- Опубліковано 6 лют 2025
- Right now only 40% of American households have the income to be able to buy a brand new car in the United States. At the same time, people are stretching the useful life of their used vehicles further and further to the point where now, the average age of a used vehicle on the road today is about 12.5 years old up 3 years from just one year ago in 2022. Clearly even a car now is quickly fading away from the norms of what Americans can afford. But this is supposed to be the best economy ever and there is not recession...
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UNBELIEVABLE SURGE IN FOOD PRICES! And it's NEVER COMING DOWN ua-cam.com/video/5E0pu30VxtY/v-deo.html
My car will have to be dead, beyond dead before I get another car. My husband has a newer car, but things cost too much to take on another payment...even though, I'm sure they would qualify us.
Should humans plan beyond oil? A lot of uncertainty regarding oil reserve capacity. But if oil does run out, mankind better have a workable solution.
Michael, speaking about cars. If you own a used car, just trying to keep up with the maintenance and repairs has gotten out of control. We are not even speaking of full coverage on your used car. I have a 2014 Nissan Altima, and I went down to liability. My insurance has never dropped for the last 5 years
2014 paid for Toyota Sienna Mini Van - I will drive until the tires fly off (not really just bought new tires 😮.) I’m way too metal for a new car payment…. Stickinittothemayanneosis 🤘🏽🤪🤘🏽😂👍🏼🩵🥳🫧🧜🏼♀️🏴☠️🫧🩵
THANK TO BIDEN
i'm a homeowner who bought in 2005, I made less than 40k then, and easily paid all my bills plus could go to Europe once a year... fast forward to today and I'm almost always broke... still make about the same per year, but with homeowner's insurance ballooning, food inflation along with all the other price increases... it's no wonder why we have so many homeless folks nowadays... the American dream is NO MORE!
I bought my house during the Trump presidency. I had a 2% mortgage, the economy was booming, my business was doing great. Biden is intentionally destroying this country. Everyone can feel it
They want us broke so we have to totally depend on the gv't, they hate for us to prosper but they are super rich, Biden, obama clinton have never work a day in there life there to smart to get a real job, this country is over!
so you earn the same amount of money as in 2005 and you blame not yourself ?
For real. Makes you wonder why immigrants are still coming here lol
@pentrubarbati you can't do math can you.BOOOOOMERRRRR.
GUESS HE SHOULD CONTROL THE MINEY SUPPLY AND CORPORATIONS huh
In CANADA the cost of living is SO HIGH - nurses are LIVING in their cars. It’s getting that way in all 1st world countries.
"They" (WEF) are doing it on purpose.
I can't even imagine Canada's cost of living. The US is bad enough.
@@michaelglenning5107What’s the endgame?
It's this way in Anglo Caucasian controlled countries
@@FloatingThroughTheRealmSocialism and Democrats in complete charge of your life.
I'm 25 now, thank god I got my car during the pandemic when people were calling me crazy but I already knew everything was going to crash. Manage to secure a 2.9% interest rate and I only have $1,000 left on my car payment, honda civic 2017 with 45k miles. I'm driving this car till the wheels fall off and even then I'll change the wheels and keep driving it bumper scraping on the floor and everything🤣🤣
God is capitalized, always.
Hondas are the best! Reliable with long lives!
I have been driving my civic 18 years never had a problem with it just stay up on the oil changes and it will run forever. you should get 400,000 plus miles out of it no problem.
You GOT IT !!! Keep as much as possible out of debt and you have no nightmares !
@@debbiecreter2005Not anymore.
I bought a Toyota Yaris for my daughter's first car 4 years ago for $2100. 2 weeks ago I sold it for $2300 with 250k miles.
Never thought a high mileage Yaris would appreciate in value.
😮
I bought a Yaris for $2000 and it's paid for itself in gas saving alone. Gas is $5 a gallon here in California. I will never sell it.
In fairness the yaris a great car, you chose well. But yeah the prices of cars have ballooned. Maybe we need to force our federal govt to stop giving billions to isreal and instead spend it on americans.
Vehicles are no longer affordable today
Im holding my 2006 together with tape and gentle whispers of affirmation.
I feel like we are in a major breakdown in all walks of life. Going into a very dark place
I so agree with you!
I have noticed even in this past year we are having more and more trouble..... So example we get paid Friday and pay the mortgage Saturday so that leaves us with 800 left over.... Now we gotta pay electric.... Down to 600......... Sell phone..... Down to 500....... Oh heat bill down to 400..... Get a few groceries so we have ZERO FUN MONEY OR IF SOMETHING GOES WRONG. WE ARE FU***d
All insurances are a scam. And everything is too damn high. And like you said Michael “that is the reality.”
Insurance started out as a mafia racket known as "window insurance" for local business owners who were essentially strong armed by thug "insurance agents".
Insurance is a bunch of bullshit!!
Bro full coverage for life. After having three cars stolen and making money off each of them im happy with it
It’s Legalized extortion !!
@@geocam2 gee, thx captain obvious
but you left out the part about the massive profits and executive payouts
"It's over, we are screwed." -Michael Scott
Stay single and escape ameriKa...get some silver & bitcoin...and pucker up 😊
I got a car from my uncle. 98 Toyota Avalon with under 100,000 miles. It costs nothing to insure, nothing to register and about 1,000 a year in upkeep.
I'm keeping it till the wheels fall off.
A late 90s Toyota! That thing will go forever if it's maintained. Some of the best cars ever made.
Just gave my daughter my 04 Highlander with 375k, still purs like a kitten.
@@dhaitmanek i've got a 2006 camry and it's one of the best purchases i've ever made.
Good for you. Nice uncle. I drive old cars too.
Change all fluids frequently! Change oil every 4000, full synthetic. Learn to change oil yourself. Change coolant every 30,000!. Change trans fluid every 30,000! Change brake fluid every 30,000! Don’t beat on it!
Everything is great. The 8 people living in the alley behind my house are thriving 🎉🎉
Cat food sales are booming. Biden boom economy.
The lady Michael is talking about bought a Ford Focus….now smart. Those are terrible vehicles. If you are lower income, for crying out loud - buy a 2 or 3 year old Toyota Corolla or Camry will decent mileage. Don’t throw away money on an unreliable car!🚙
NOT smart, not ‘now smart’.🥴
I installed 8 spots lights in the back of one of my commercial buildings to keep homeless from doing drugs back there.
They have nothing and are happy ?
I dropped my consumer spending down to less than 5k a year, everyone should do the same. No hobbies, no eating out, no fun. Stuff it to all these companies and they will use their oligarch powers to lower prices.
Too boring and plain
Unfortunately most people don’t share your thoughts and actions. I agree with you. Go out just occasionally. Find things to do like biking or walking on the beach or go to a park. These things and many others are free. Put money aside that you would have spent going out. It will add up quickly.👋🏽
I agree to a certain degree. Every city has free or low costing activities For example, I live In LA 4 miles from the beach. I go to the beach whenever it's hot and and pay 2 bucks to park
I don't buy food or anything. I bring food actually. Playing basketball at the park is free. Google free activities in your city and you will be surprised. They have a bowling alley in LA that's offers one day of bowling a month but you have to know. They don't advertise it and no employee will tell you
Gamer here… I just replay my old video games. I don’t buy new ones anymore. Now that is a dirt cheap hobby if done correctly.
@@RenegadeBastard yeah, just need a couple of bucks for snacks. 😊👋🏽
The price of cars is too damn high!
Coordinated corporate price gouging at its best. They are supposed to compete, not collude.
I live abroad the last 10 years. My predictions on the future of the USA were spot on. Good luck over there.
No place is safe from what is coming... you might just last a bit longer. I've lived overseas, too. I get your point, but ultimately it isn't going to end any better somewhere else. If anything, you will be more of a target.
@JoeGator23 nahhhhh it's great. Cheap living. That's the typical bull shit all Westerners say. It's way more unsafe in the west and 5 times more expensive.
how does Medicare work where you live?
@stanmarcusgtv lol. Dependent on medical? To bad for you. Should of taken care of yourself all those years.
keep laughing - I posed a great question - you're probably the old guy w/ the problems obviously you're not someone that thinks ahead and most people paid for medicare, odds are not you because you have to work and pay taxes to do that
Cars were always unaffordable. That's why everybody needs to finance them. And most of us are forced to buy used crap.
If the majority of people can't afford automobiles, then the majority shouldn't support taxes that maintain the roads.
Don't know why this comment doesn't have more likes. Cars are affordable if you can easily walk-in and pay cash. Most dealerships are not in the vehicle industry, they're in the credit industry.
@@tomcollins5112 Think about it. Roads are used for transportation. Unless you live in a cave, grow your own food, and never buy anything, you use the roads. The fact that you are on UA-cam means you have some sort of electronic device that was shipped to you and designed and built by people who used roads.
@@greggergen9104 We can go back to horse and buggy.
@@tomcollins5112 LOL, about the horse and buggy... My point is just that roads are needed by everybody because we all get tremendous benefit from the world they help create and keep going. And by the way, as someone who lives near Lancaster PA, ie., Amish headquarters, they have very nice roads and even pave their horse and buggy driveways.
Maybe everyone in America should just legally change their name to Ben Dover.😂
I bought my first used car in 1977, a 1970 Oldsmobile Cutlass 87,000 miles for $700. I'd like to drive it again if it's still alive!
Whaaat 1977, so,how old are you 198, 😂😂
Bought a Ford Fairmont for $500, filled it up with a tank of gas for $5.00 and insured it for $50..
Ooh those were the days.
PS fixed and maintained it myself
I crashed my 68 Nova when the master cylinder went. Either hit a pole or into traffic. Emergency brake slowed me down but not enough.
Hah! Back in the '70s our cars were a 'she' with a name! Remember talking sweet talk to LuluBelle and prayed she started! The good ole days . . .
I loved my 1970 Cutlass Supreme!
5 years ago a base wrangler was below 30k. Same car same equipment now over 40k. Pure greed.
Not greed, our money is broken… people aren’t realizing there can be more dollars printed, but you can’t just print more jeeps
now some Wranglers are over $100k - Jeep prices are up over 50% since 2019 and their sales have crashed
The Wrangler is a better vehicle than 5 years ago with added features. Maybe 5% better. The rest is the FED money expansion that created inflation in assets, but not incomes. Dealer greed maybe 5-10%.
Sometimes greed but this is what happens when you inject trillions and trillions of dollars freely into an economy. It’s not done in a vacuum
Taxes are killing business
The cost if repairs were i live have DOUBLED. 😮😮😮😮😮😮😮😮
Yep. I see that, too.
Getting decent parts is also more expensive & harder to get.
@@geocam2 Or have a fund dedicated to the cost of repairs.
Gerber collision is crap. Wtf thanks insurance
You all need to go to Harbor Freight more often, and watch "how to" videos on you tube. Most car repairs vids are available and there is nothing to it but to do it.
Ever since i was a teenager my motto has always been, "I hate working on cars, but what I HATE more is paying sombody else to work on my car"...especially the easy bolt on/off parts like starter, alternator, brakes, radiator, water pump, etc.
Instead of paying some shop/guy 120 per hour, pocket the money, learn some skills, and aquire a nice set of tools with time
I'm glad we all are keeping our older cars. If nobody buys the new ones, prices have to come down. Thanks for keeping it real.
They won't come down. they will just go out of business and not produce more. People got to get paid for their services.
Your presentations are always informative and truthful for the working-class people. You are appreciated for sharing your knowledge and information with us. Thank you.
Eventually it all falls apart because the consumers cannot afford this stuff anymore. The 1% and corporations are so arrogant, but they depend on us to keep going. And if Americans can’t afford to be consumers certainly no other group in the world can do so.
Took all the words right out of my mouth. Nailed.
I agree. These greedy, money hungry, wealth hoarding multimillion, billion and trillion dollar corporate entities are too incompetent to comprehend, Share the wealth=Consumers buy products: houses 🏡, vehicles 🚗, boats 🛥️, etc., Businesses grow and the Economy thrives. Hoard the wealth as these corporate monsters are doing=Consumers can’t buy products, Businesses fail and the Economy dies. Hence the Mass layoffs, Businesses failing and Economy dying/imploding.😮 God help us!.
It’s our government. Put the blame in the right place.
The 1% have theirs, you will own nothing and be happy.
Very true, I’ve been saying basically the same. The system cannot function in the long run like this and the fact it’s worsening exponentially.
I bought my Ford F-350 in 2016 for $30,000. Now, the price has literally doubled to $60,000 and that's just the single cab and not to much more than A/C, tilt, and cruise!
@@howy41 I have 3 more months of paying on my credit card & it will be paid off. After that, this 68 year old will be buying $750 worth of crypto every month!✌🏽😎🇺🇸
who would ever buy a single cab as a real tradesman....a joke....?............
Ford F350 cost now about $85.000 without being fancy.
We found a gem… 2 years ago bought a 2012 dodge Ram pick up. 70,000 miles and $18,000. We love it. We had a 2001 Dodge ram and we put almost 300,000 miles on it. Still runs. We gave it to a neighbor who needed a truck for local things.
Its not worth working if your whole paycheck goes towards car payment, ins, gas, maintenance.
Yep your practically working to be able to keep driving to work.
I live in the car😅
@@wayneroberts6642 I stand corrected
I really enjoyed being carless for three years out of the four years I lived in the Florida Keys. I saved so much money! I rode a bike. Of course it was flat terrain, had nice bike paths along US1 or along the beach, and only cost new innertubes and minor maintenance and locks. I learned how to wear rain gear and keep a dry change of clothes handy. At the time that saved about $400/month (car payment, repairs, registration, insurance, gas, etc.).
@@betsybarnicle8016yes cars are very expensive if you dont absolutely need one its better to save the currency and invest that in appreciating assets...
I'm a middle aged man and I left the country 5 years ago. I now live in Vietnam and my main mode of transportation is a motorbike (scooter). I bought one brand new for only $1000. The maintenance and fuel costs are nearly nonexistent. I don't know how Americans are getting by now. It seems absolutely ridiculous that car payments are now on par with what rentals used to be. Hope things improve soon.
Yep, I’m in Sicily and 90% of people are driving (very small) cars which are twenty to thirty years old. Smart!
You know those memes where they say, "I wish I bought a house in 2005 instead of being in the 3rd grade"? Well, in my case, I'm glad I bought a new car in 2013 and paid it off. For once, I jumped at the right time. I'm so sorry for everyone who can't afford one now. I hope things change for you you soon.
Don't worry, they'll find a way to get your money, too. No joke.
Your car will need to be replaced soon. Keep an eye out for deals and save for that car you will need sooner than you think.
Really appreciate our host for taking us along on tour. We learn a lot
he is a nice man 😊👍
I make over 100k and can’t afford a new car. Prices are out of control. I bought a used car - $230/month. That’s enough. This economy is great. Please pass me the Hunter pipe. 😂😂
You're right. I remember my first car in 2007. I bought a used 2004 Ford Taurus SES, with the spoiler, tinted windows, leather seats and cd players, fully loaded for the time. With only 42,000 miles
I paid $9100 for it.
Those days are long gone for damn sure.
Same vehicle to match in today's market would be nearly $24,500 at best
Crazy how times have changed
To have a new car or truck it would cost more per month than my house wow.
And the price of maintenance is astronomical. My car just turned over 100,000 miles so I just recently had a timing belt changed, oil and transmission fluid changed and 6 spark plugs changed and the bill was close to $1500 😮 💰
Michael, I think you are honest and compassionate. You are doing a great service to the American people by collecting up all the information and presenting it the best way possible.
I am thankful everyday for getting a 2017 CPO Corolla XSE about 3 months before Covid shutdowns. Approaching 100k miles now and it's running strong and have no car payment.
I have a 1999 Ford Explorer that originally cost $25K. Perfect car, no problems. Then, an ederly man ran a stop sign and hit me. Thankfully no injuries for either of us but the insurance company totaled the car. They gave me $4k but hard to find a reliable SUV for that price. I paid $500 to retain the car and am getting it repaired. A new Ford Explorer costs 40% more than it did in 1999 and it’s just not worth $35k. Cubans have a lot of cars from the 1950s because of the embargo that lasted 6 decades. I find this inspiring! Cubans have forever cars, cars they have driven for almost 7 decades now. The American mindset of replacing a car every 12 years is not only incredibly wasteful but helps keep Americans broke too. It wasn’t supposed to be this way. The Model T was designed to be a forever car and paint technology only allowed black. Then, cars became color in the 1920s and the marketing machine took over to convince people they need to stay up with the latest trends and fashions and the forever car became obsolete. Cars became like clothing and hair. A style that needs to be changed. Now, a century later Americans are broke with forever car payments.
That's why having kids as a middle class living a monthly paycheck can be really hard in today's world compared to older generations. More and more peolple are becoming greedy, and those greedy people (politicians, and corporations, etc) are the ones making decision for themselves which affecting those at the bottom. Its really pitiful especially to those who are homeless.
I just don't understand. A vast majority of Americans don't have money but everything keeps selling.??? WTF.???
Because people are just living in extreme debt and they don’t care at all anymore. Most of it on credit and loans. Robbing Peter to pay Paul until they can’t….
The wealthier folks can buy multiple vehicles, homes, degrees, etc.
Homes are being bought by corporations, people are blowing their credit cards in cars and purchases, debit is growing and the rest are living on welfare
Over 90% of people buy things with debt (credit card, loans, mortgage, monthly payment with interest, etc). Almost nobody buys things in one go with cash. So the things that people wear, drive in, live in, are not theirs.
Right on Michael, very astute observation, you are rapidly becoming the spokesman for the common citizen. We live in a senior complex in Venice, where non-residents constantly inquire about cars for sale, not that there is anything wrong with that, but it does indicate the need for affordable cars. We recently sold our 15 year old Jeep, and had over 40 requests to purchase it. Great topic, thanks TD
I so much wanted to buy a new pickup for my 65th birthday. That dream has passed.
I wanted a C8 for my 50th birthday and I got it and now after driving it for 4 months and a grand total of 150 miles and regret it ,my wife and daughter are my happiness. You’ll be alright maybe you can find a deal soon good luck
That sounds like a 1st world problem. Tiny violin 🎻
Whaaat 65th, you are going upstairs soon ,no need for a car
😂😂
@dennynisevic7848 I'll take my time and wait my turn, thank you very much. My whole point is, all my life I've been able to buy any car I want. Now that I'm 65, I thought I'd buy a nice truck. But, not for the current prices. The dealers can choke on it.
This is whats wrong with people, why you want a pickup at 65? Shouldn't you retired or at least soon be retired?
I started driving in1976 and i was paying 500 to 1500 dollars for used cars that were still in good shape now you look at used cars with 180,000 miles and they want 30k for them crazy times.
I bought a 1960 Rambler American in 1970 for $150. Fixed the rust and drove it for years.
I've never been anywhere and had someone ask me what I drove there in. Nobody cares about that new flashy car. Buy old stuff. Learn to fix it. You'll save money. Cars are a liability all day, every day. Don't put any more money into one than you need to. I do my own home repairs. ALL OF IT. I make ends meet with far less income than you'd guess.
You do roofing cheap?
@@racoonracer7878 for myself. I'm not insured and bonded for it. I've done roofing in the past on some of the rentals we've built over the years
Cars are the absolute worst waste of money. You never make out when you factor in registering it , insuring it, maintaining it and filling it up ....total liability
@@dp.7616 and loses value incredibly fast.
My car is nine years old. Am not going to sell it either. Love people who can fix things.
My husband is a fleet manager for a mega corporation they are waiting an extra year and paying leases longer because the bottom is going to drop.
Bought my first car - 1968 MG Midget red convertible in 1983 for $2500...bought my current car - 1990 Suzuki Sidekick 4x4 red convertible last month for $2500 and pay $40 a month for insurance.
Never paid more than $3000 for a car - buy something fun and cheap - drive it 5 or 6 years sell it for $1000 bucks and buy something else cheap and fun!
I purchased 15+ yo Crown Vic last year for $2K (for some folks it is 2 months car loan payment) which runs great ! As Eastern European immigrant ,I can fix everything on this car blindfold plus all parts are still available and very affordable and most importantly the car has no electronic Mambo-Jambo. $50K for average new car which last only one first owner warranty period doesn't song very promising !
That's right. And it's full of computers and you must take it to the dealer for repairs since only they have the software to diagnose and reprogram. It's a big scam and ripoff.
@@rons5319 Agreed! we getting to the point when to add some air in tires driver have to bring a car to dealership for "reprogramming" (aka $)
V8 gas
You got the right idea! That's how I do it. Pay cash. Buy old. Fix it yourself. Don't buy new cause you have just as many problems except your stuck going to the dealership to fix it every time.
Wow....I like your style!...and you are very smart!
Very happy with my 21 year old Diesel truck, pre stupid EPA and can easily keep going over 1,000,000 miles.. will keep driving it till they put me in the ground.
I am right there with you. I have 2000 model year pickup it is going to last me till I retire so 9 1/2 years to go.
So glad I bought my 2020 Altima SR in Jan 2020 when it was $25k and APR was 3.5%
Michael, I'm so grateful to come across your videos! Amazing how much information you put out on a short time frame. Great speaking skills and editting skills. Please keep up the great work! Love and support for Canada 🇨🇦
A year ago my brother who I had not seen in a little while looked at my car and was like “Whoah you still have that thing?” 🤣
I’ve literally only had the car 7 years (fully paid off). Some people never learn.
All my vehicles are 2008 and still purring like a kitten. Love them and they will love you back.
I still drive my 2002 Ram. I do all the maintence,ball joint, radiator everything. Could not give two Fs what others thonk. They are usually broke asses flashing things one payday from reposession.
I have never paid a car more than 10K. I am 45 and bought only 3 in my life. 2 sold just because I change a country. A car can live 15 /20 years easy easy, with no major repair. I don’t know what people are doing !!!! Same for me montrer , same for brother, same for some friends (some because some are dumb to by new cars and have no life , no travel in their life!!!!)
@@Neopitpit You are right. I am still driving my 2002 Ram I bought new for $24k. It has some dings but I don't care, it is a reliable runner. Folks are condition to get rid of 'that old car' like changing fashion. I swore I'd never be car poor and subject to paymemt enslavement. Because of this, my net worth today exceeds a million bucks. If these high interest rates continue, I will be able to buy a new vehicle outright from two years of interest without touching the principle.
'Compound interest is the eighthwonder of the world. Those that understand it collect it, those that don't pay it.' - Einstein
kid say literally.....grow up...
You’re coming dangerously close to the black pill. Reason and logic lead you to the conclusion that they don’t want you to have these things - food, shelter, transportation. Worse, they aren’t planning for you to be here at all to complain.
Exactly
no doubt... WEF wants you and yours six feet under....
I think that’s paranoid. In reality, reason and logic conclude the economy has been propped up by stimulus and QE for 15 years to prevent the economy from grinding to a halt. In addition we are at the peak of an economic cycle, just like 1929, in which bubble reaches a point where people can’t afford, just before it comes crashing down to earth before the engine eventually gets going again. Of course, increasing population and competition for resources will eventually lead to everything being unaffordable even if the government was populated by saints. Yes this is a gilded age, but I have serious doubts that a cabal is secretly planning to murder most of the population because they would immediately become materially poor. The comments on videos are populated by abject paranoia and insanity as a result of gilded age and economic blight
The Great Reset!
They just want you to live with less so they can live with more. And like it.
So if nobody can afford anything - why is everything going up - cars, homes, rents, hotels, food etc. ?
I tried to book a hotel on Miami coast now it's crazily expensive there now and mostly booked - who's staying there then?
Don't prices go down when demand drops? 🤔
The prices aren't actually going up .. the value of the dollar is dropping.
Its not a free market...80% of money supply created in last 3 years...escape ameriKa if you can 😮
Haha... Have you ever been to Miami in February / March? There's plenty of demand.
@@JustDItY We supposedly have crappy economy now when people struggle and can afford less on average - then where all demand comes from? And the prices are record high this year.
@@cannotwest debt?
I’m in my 60’s and have been lucky enough to enjoy owning 26 different vehicles over the years when it was no big deal to buy new. Cars, trucks, vans, motorcycles, watercraft, hot rods, etc. I’m done buying at these prices. I’m fortunate that as an auto hobbyist that I have the skills and the shop tools to just keep repairing my current vehicles forever. For me the best strategy is to just keep putting engines and transmissions in when needed, way less expensive than getting anything new. Every month I keep a paid off vehicle in use is like putting what would be a $770 monthly payment into my pocket. Glad I had my car fun when cars were cheap and easy to buy.
I have been driving the same truck for 20 years and my wife has been driving the same car for 18 years no payments on these vehicles for 13 years, just general upkeep tires and oil changes
lucky you. had many cars that are 12+ years. Never had one that didn't have repeated issues of components wearing out and breaking down. Your experience is not typical. Cars older than 12 years are not normally reliable.
@@jimbochoo3316 I drive a 2000 F-350 truck with 180,000 on it my wife drives a 2006 prius with 145,000, we did replace the hybrid battery cost $2500.00 complete R&R
In Canada, they're talking about Dine-Now-Pay-Later at restaurants! Imagine buying your shrimp cocktail on an INSTALLMENT PLAN.
I've driven the same 2006 Scion xB for years now. Originally, this was based on frugality. Now, it's based on necessity! Coming up on 250k miles, and hoping to drive it indefinitely. Crazy times
Same here, though mine’s a 2005! I bought it brand new and paid it off in 2 years. Someone recently asked me if I’d sell it bc they desperately need a car. No way I’m letting go of my Scion and taking on a car payment.
Currently driving a 2019 Fiesta ST with 42k miles on it. Gets 28mpg combined. Title in hand. Insurance currently 16 a month and spending 160 a month on gas.
I’m absolutely through with these absurd markets.
I'm in much the same spot, 2017 Ford Focus approaching 82k miles, owned outright. The earliest year that no longer had the awful transmission issues that the Focus and Fiesta had for several years. No need to get a new car yet, it works reliably, passes inspection, doesn't leak, doesn't burn oil. I'm in the club of "point A to point B", even if not "in style".
what state?
@@theewelder CA-kind of skewed since part of that discount is refunded payments from my other car I sold. I’ll be paying 50 after April in insurance.
@@geocam2 it’s a manual it has none of the issues you’re thinking of.
16 a month for insurance?? Lol what planet do ya'll live on getting these kinda rates. I have a perfect driving record am 30 years old and never paid less than 90 a month, and that was when i was 19 driving a 2002 cavalier.
My first car was a 1982 Olds Cutlass Supreme bought for $1200 in 1988. Had over 100k miles. Drove it 6 years.
Homes are more essential than cars, and if "¶ roperty taxes" are not outlawed, we will be homeless when we're retired, on a fixed income. The overnment should not have the power to k ick us out of our home. If we're obligated to pay a "¶ roperty £ ax", then we really never owned the home.
I gave up on my car payment about a year ago. I barely made 17$ an hour. I literally cant afford anything anymore & life just straight up sucks.
I dropped the idea of buying my dream Corvette for $30,000 plus tax. Instead I bought a few hundred dollars worth of computer parts.
Greyhound is going to be happy 😊
They Greyhound rise tariffs on personal cars. Insurance companies are not going to survive.
I feel like smaller cars were pushed out purposely, not much margin in an econobox, but plenty in a luxury truck. I like my small cars, but it's its hard to find decent ones that arent either luxury coupes or sports cars.
Just like small houses or Starter homes.
Thank you for realistic addressing these issues that everyone else either exaggerates or ignores.
I purchashed a new 2023 Chevy Silverado pick up truck. I had to order it because I wanted a single cab with only 2 doors. It took 6 months to get it. The total price with all dealer fees and sales tax came to $37,000. I sold my 2009 Chevy Silverado to a good friend for 10K. So I got my new truck for only 27K. I paid cash, so no truck payment. Love my new truck. The only upgrades I got was a spray on bedliner, and the upgraded wheels. It's all I need. If you walk the sales lot at all the dealerships, you will only see sticker prices from 60-95K. for a truck. I lucked out for only 27K for sure.
What did you buy your 2009 for?
Good choice in trucks. Chevy Silverado FTW.
You should've gotten a tundra.
Today is the 22 year anniversary of taking possession of my Nissan 2002 Frontier SHC king cab. 211,000 miles. Original drivetrain and rear brakes. I bought it for $27,500 which included a shell and bedliner. I have spent 30,000 to maintain the truck for 22 years. I am not doing anything about buying another car until or unless this one breaks or crashes.
with all the car repossessions on bad loans going on, there should be a flood of used cars hitting the market soon, with nobody left that can afford them.
I hear you, I wanted a nice comfortable vehicle to drive at 61yr. I have the money but I’m not paying these prices. I’ll keep my reliable Honda Civic.
@@marysinclair1214those cars come all bashed up, nasty interiors. They are not cream puffs. They have been repoed from multiple people.
True what Mary said. By the way, not enough repo men at this time.
@@marysinclair1214Honda civic are unkillable in fact they are the best one with toyota corolla
Micahel, I really like these walk and talk videos. Especially since we always see Florida/Miami as if from a plane. I always wondered how it would actually look to be walking in the one-story section of Miami while looking at the nearby skyscrapers on the Atlantic coast. And now... I know. Thank you!!
Most people didn't want to pay for the extra bells-n-whistles. The sales guy pushed it on them at a "great" deal, because he/she made more money. manufacturers did the research, and started making more of the high priced, high profit cars.
No! I don't want leather seats and a 800watt stereo for my pickup truck. Its just gonna have a bunch of sweaty dudes in it daily! But that's the model that has the tow package you need for that skidsteer. 🤬
Yeah, I heard that's what the manufacturers are doing - only making cars with all the bells and whistles because they have the most margin. Who cares what they customer wants. That's why the cars cost so much - they're all loaded.
💯
My car is now 14 years old but thankfully it's been super reliable the whole ten years I've owned it.
We are just going to have to refuse to pay these prices, especially homes. It can't stay this way for long.
So we all need to work MORE so we can afford new homes and cars.
I think I rather keep my old stuff and work the same or less and find cheaper hobbies.
Escape ameriKa part of the year or say hello to Tent City USA & Dumpster Dining...😊
I remember the beginning of the downward spiral : later 70s : equal opportunity: suddenly we (I was a mortgage banker) had to consider both incomes ... suddenly everything doubled in price ! Then came no-fault-devorce ... the beginning of single mothers, income with doubling prices ... poverty of the single mothers with children ... IT IS GREED GREED GREED with no mercy for the less fortunate ... NO WAY OUT
Automation has dropped the cost of making automobiles throughout the decades but the prices have risen dramatically. The FED is killing the benefits of technological deflation by drastically inflating the currency.
Don't forget excessive regulations that have driven the prices way up.
Bought a brand new Subaru in the last month or two the prices have come down a little bit and some of the dealerships are incredibly easy to work with. I got a good deal and no regrets. If you can pay cash that's best although most people can't. I drove an old beater 24 year stripped down stick shift for many many years in order to save up for the purchase.
Good point Michael! this is reality.
Watching you this morning from our new home in Michigan, during a snow storm, reminding myself we sold our home in FL to be mortgage and debt free. Man I miss that sun and weather.
I bought mine paid cash 2021
Used Toyota Venza has all the bells & whistles mileage 100,000 on it for $8,800
Toyota’s very reliable
The seventy year old catalytic converter guy should never have reported the theft. He should have paid ONCE for a catalytic converter versus paying a higher insurance premium for the rest of his life.
Bring back the V8s!
"Fx it up, wear it out, make it do or do without".
Sounds like "you will own nothing and be happy". The first part is here, I wonder where the happy part comes? 😂😢😭
That’s the plan…
For me, there isn’t a car appealing enough for the current prices. I make 10k a month, and I would rather hold on to my 12-year-old Dodge Charger than pay ridiculous monthly payments for a new or used car.
What do you do for a living? I agree, cars are all crap right now. I’ll keep my 13yo Dodge Nitro.
@@FloatingThroughTheRealm retired military and work in IT.
My first car cost me $50 at the police auction in 1985. it lasted me about two months. Those were the days…😂
I had a few of those but a few hundred and lasted a few years and some maintenance. Then scrap them for some money.
Even if you're able to afford a new car, you're only as safe as the guy next to you who may not be able to afford brakes, tires, engine mounts and who knows what else.
Oh Michael, you're such a simple person with a simple brain. God bless you.
and your a genius lol
Bought a brand new 73 Chevrolet Nova for 3 000 back in 1973
65. Hoping my 2009 Honda Accord 2 DR LX V6 continues to be absolute perfection.
Time for deflation. Let's go!!!
Mike, like your channel it's always nice to hear "real issues and living, not the MSN not the goverment just Bordenaro on his walks!
Really appreciate you saying that and thank you for being a channel member
We just lost are petrol dollar last year threw sudi Arabia they joined bricks this year everything is moving from the west to the east now
Everyone is saying that things are great and not that bad anymore but I am seeing everything Michael is saying here... 2020 I was making 21% less than today and it was fanatically easier! So glad that I got a 2nd job in 2020 & 2021 I paid off my cars early, if I still had my car payments I don't know how I could pay it. I have already cut all extra spending or frills. My daily driver is 10yrs old and over 230k miles and I am just keeping it alive; far more affordable.
Definitely with all the folks driving older cars, I agree. Unfortunately we were hit by a reckless speeding driver running a red, destroyed our 2017 Jeep. We didn't want to have to buy in this market, but we were forced to. At some point it isnt sustainable to avoid.
That's fine. Let's go back to scrolling the phone screens up and down.
I just dumped $1300 into my 15 year old car, literally yesterday. I still can’t stomach paying $30,000 for a reasonable used car or $40,000 for a run in the mill new car coupled with interest rates at 6% (with a credit score of 760)…. It’s insanity. I’ll drive my older paid off vehicles.
I'm one of them.... I'm now required to go back into the office once a week then it will be 2. I sold one of my car so now my daughter and I are sharing car. If I have to go back full time, I'm going to have to get a used or new vehicle and frankly I cannot afford the additional expense. More insurance, more gas and maybe a car payment. 😢😢
it's the same in the UK
One problem is that we have been too influenced by corporations and not to mention the rot your brain "reality" TV shows and now "influencers" that we need what are actual wants. A moderate sedan used to be good enough but now people NEED to have an suv. On a macro economic scale it drives up the cost of raw materials and lessens the reductions of cost due to scale for reasonable products.
Corporations are going to buy it and rent it out to you, yes. REITS and their predecessors have been trying to figure out how to operate a decentralized property portfolio for the last 40 years. They could never do it until the smart phone arrived. Now you can manage property in Miami from Wall Street with little input. It's just a permanent change in the nature of real estate. Corporations aren't affected by the passage of time, so if it takes 10 years to turn a profit, they're fine with that because they own the SFR forever.
I remember paying 25 cents fir a loaf of Wonder white bread. A new VW was $999.00
Your generation ruined it for the rest of us
@@pi5pnj no not true. We were raised by The Greatest Generation. We grew up with their values, morals and ethics.
@@pi5pnjyup they didnt do it themselves but the generations before us absolutely fell asleep while the tyrannical elites set up their systems in peace. That should never have happened these generations before us were kept quiete by the allure of easy money printing. "Ohh our property values are going up we are getting so much more wealthy..." such a load of bs. Only a very small minority of people have figured out what was going on back then like G. Edward Griffin and nobody listened to him everybody gave a sht and didnt care enough to revolt against this shtshow, instead they continued running in their golden hamster weel.
With insurance rising so much, it's only further motivating people to keep driving their current used car.
What will life be like for the generations behind us in 20, 30, 40 years from now?
Whew! 😟
Jennifer, this is worse than 2008.
It was worse in the 80s for a lot of people.
Walking ATMs for life.
Soylent Green
It will be what they vote for, and their future doesn’t look good.
I make 100k a year and I still buy used cars and do all repairs and maintenance myself, trying to save, be frugal, want to be a millionaire when I retire in 10 years.