In this economy?! With food, shelter and basic living costs ever-rising more are unable to pay now average one band [$1000] car notes!
Dealers are pushing financing up thru 84 months! Factor in gas and insurance? It's out of control. Time for a Rivian purchase?
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Originally Posted by Cincinnati_Kid
Agreed, it's dog ugly.Quote:
Originally Posted by Cincinnati_Kid
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Originally Posted by Henry Whalley
Speaking for myself here, but my dawg is purdy. That Rivian thing though,
as unprepossessing as it gets.
What bugs me is the vanity that pushes people to buy into 84 month payment for something that loses so much value in so little time. What a wasteful mentality when all points to the fact we should be downsizing, and reducing our consumption. Vanity is all it is and marketers know how to push the right buttons.
The other egregious fact is that a company that can’t deliver a product on day one of its operations can get so much backing with no track record from a product’s existence, let alone short lived reliability. We live in bullsh!t times.
I just saw on the news that EV's depreciate 40% more after purchase than gas powered vehicles, on top of consumers worried about battery life and replacement as well as the lack of charging stations. Tesla is slashing prices on their cars due to slow sales, and one owner says he's trying to unload his, but will take a $30,000 hit if he does because of low resale value. EV's aren't the end all, be all the automakers and government claim they are. I'm sticking with gas powered vehicles.
I had to look it up.Quote:
Originally Posted by Cincinnati_Kid
I can't quite put my finger on it but it's mildly unnerving like some character from a 70's psychedelic underground comic or that sickly quasi-human infant in Eraserhead.
Yeah, that's it. The nostrils. Eeeeeeek! :eek:
I think it looks like an electrical outlet, which is somehow appropriate.Quote:
Originally Posted by Jimaz
One parked next to me a few days ago and they are huge. Tall, wide, long and weighing over 7,000 lbs., and it made my mid-size sedan look like a toy car.
The F350 is now pushing $115k with up to 96 months financing.Quote:
Originally Posted by canuck
But the biggest thing is the cost of repairs if you are going to keep it,my friend with a 2018 Serria just hit 101,000 even with extended warranty that ran out at 100,000 miles he now needs a transmission and lifter replacement or $6500 worth of work.
The average truck payment and insurance is over $1000 per month but they are saying the credit card and auto loan default is the highest it has been in 30 years.
But in the early years it was common to trade their new car in every three years to me that’s really the way to do it,if you want a new car just factor in the payment as a forever fixed cost like rent or mortgage and trade it in every 3 years.
That why I got out of the auto repair business,because at that time anybody could walk in and buy a new car for less than it cost to fix their old one.
As a rule most only look at what it cost down and how much per month,you could tell them it is a million in total costs and it would not matter.
But it is deceptive when it comes to trucks,the self employed purchase the majority even more so in Florida with HOAs and because they do not build fleet vehicles anymore as a business you do not have much of a choice but to buy a unnecessary fully appointed truck that is going to get scratched or dented as soon as an employee gets in it.
If they took that commercial use aspect out the market would be different.
Where I am at the maximum GVW you can park in residential is 6500 the Rivian comes in at 7000 so HOA or not you cannot even legally buy it and park it at your house and the tax office would consider it a commercial vehicle,for me it is $195 per year difference in registration costs between commercial and private use vehicles.
Yes, and eventually it gets REALLY old [and in more cases now impossible] to pay huge car notes of $950+ MONTHS on end!
That span of months not even touching principal for the first third of time-frame depending on financing.
You're interest top-heavy at the front-end when you finance this LONG!
I love driving, and car ownership. but no car could captivate my interest to pay like that. You don't live in your car or maybe you might have to at these rates!
Also as prices goes up so does service costs.
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Originally Posted by canuck
I think there must be strong 'new car' smell that captivates one to forget this translates to EIGHT years!
And I thought I kept a car a long time!
I do. But I own them out right.
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Originally Posted by Richard
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Originally Posted by jiminnm
Great call on the electrical outlet...:cool:
I bought my 14' Malibu LTZ new, sticker was about $31K if I remember, paid it off in 4 years. Every time I'm tempted to trade it in, I just remember that the $1000-1500 or so I put into it in yearly maintenance would basically equate to a month of driving a new truck/suv. I'm going to drive it until the wheels fall off.
I do appreciate quality automobiles and beautiful design, but to me a car is a car, a depreciating asset. Point A to point B, nothing more nor less.
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Originally Posted by Zacha341
I'm pretty sure the consumers that can ACTUALLY afford them, aren't financing them for 84 months. They probably are leasing or financing them with much better terms. The dealers are targeting fringe buyers that are trying to find a creative way to leasing or purchasing them to fit their budget. Anytime I'm paying almost the price of a mortgage for a vehicle that doesn't include insurance and maintenance is a non-negotiable for me, period...