By Silvio Canto, Jr.
Like some of you, I love to check out car models and drive salesmen crazy with the classic “just looking” line. I look at the sticker and check out all the options. It’s an old habit and a wonderful way to kill time when my wife is at the mall. It beats drinking another cup of coffee at the mall café.
Last week, I made another trip to the local dealership. Everything looked normal except for the prices. Check this out:
With interest rates rising, it’s also becoming harder to spread the pain of higher pricing with long-term financing.
The average monthly payment on a new car loan was almost $700 in June, up 13% from a year ago, researcher J.D. Power reports.
A $700 monthly payment? I remember when that was a good down payment. Naturally, sales are down, with more people heading to the used car area, or “pre-owned,” as they call it now. MORE
At $700 dollars a month that leaves little left for rental cars when your vehicle goes to the shop for the bi-monthly recalls.
They don’t interest me
Pick ups are ridiculous. $50K is the average it seems and that means 1/2 are more. I like to look at the new Tundras and Titans, Hol-LEE crap, loaded they’re over $60,000. The interior of the new Titan looks like a space ship.
I’m perfectly happy with my 18 year old Titan, pushing 300,000 miles, nothing major wrong, runs great. Mileage sucks but I don’t drive it much these days anyway.
A new Ford, GM or Dodge diesel will run you between $90,000. to $100,000. right now. An emerging business is restoring older diesel trucks and selling them for much more than they originally sold for. But they don’t break. And still much cheaper than a new one. Plus all the new trucks are butt ugly.
I remember back in thee mid-1970’s. Had a drafting/mechanical design teacher in Junior College. He worked as a designer for AMC. One night he gave us an insider secret. He told us that a vehicle with a $3000 sticker price actually costed $1000 to build. Even if it has gone to 50/50 today, they are still raping us with a dry corn cob shoved in sideways then spun.
@Brad — Do you know where I might find a nice diesel Ranchero?
*snicker* *snort*
I bought a new car 2 months ago. Salesman was pressing as to how I was going to pay for it. “I need your SS #.” Why do you need that? Aren’t you going to finance it? I haven’t decided on that yet. “I need your SS to run a credit check.” “My credit score is off the rails, you don’t need to know my credit score.” In the end I wrote them a check and drove off. It’s only because we’re seniors, worked our butts off, stayed out of debt, and were able to pay cash for something we needed. I can only imagine all the cars that are going to be repossessed real soon.
Used car lots suck here and in neighboring towns. I traded in a Lexus, and I sold an F-150 and I don’t miss either one of them.
I paid $715 total for my first four cars.
I remember the first new car I bought. 1973 Honda Civic. $2,250. It would’ve been $2,150 but I got the AM/FM radio upgrade. Nice little around-town runabout.
You should have seen it with the 20′ carry bag with my hang glider strapped on top.
I don’t know if this is a “California” thing, but all the dealers here have an “added dealer fee” to all new vehicles, ranging from 3 to 9 grand, on top of the sticker price.
And here in the Bay Area EV’s are flying off the lots. Last month I looked at the new KIA EV6 (top-rated EV). The salesman told me they get 7 to 10 a week, and they are never on the lot more than 24 hours. And they add 9 grand to the sticker, just to let you know who’s in charge.
Thank God we bought a new one in ’18 – good for another 15+ years.
Took it into the dealer for some work, and looked around the lot.
Virtually emptied of new as well as used vehicles.
Good thing they’ve got a good service dpt.-that’s where their income is coming from now.
My first car was a plain old dodge $6oo cash.
Took me through my first 4 years of car ownership.
Just more BS to drive inflation.
But they are going to throw another $50 BILLION at it.
Capitol Hill to reinvigorate domestic semiconductor manufacturing, with bipartisan support for $50 billion in federal aid to the industry.
https://www.investors.com/news/technology/semiconductor-stocks-confront-chip-shortage-as-feds-plot-investments/
In a real world the manufacturers would have to spend their own money.
Diesel has shot up $4.30 as of today.
🖕FJB🖕
Forgot to mention the Dodge was a 66,pretty near bullet proof.
The dealer from whom I purchased my 2014, magnificent manual-trans Ford in Montgomery County, MD (in 2014), has been continually sending me email offers (for two-plus months, ongoing) to purchase it at the same, or slightly above what I paid for it in 2014. Think I’ll keep it. Besides, I also have the same 2018 model, except with an auto-trans in case my two younger sisters need to borrow it. No emailed offers for the 2018 auto-trans, anyway.
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Have you seen the prices of used cars?
We were looking for a new used truck and they started at $20,000 for a 2010!!
We ended up getting a Ford Maverick turbo charged regular gas engine. Even with extras it was less than most used trucks.
Interesting I’ve been seeing old trucks like Rangers and Tacomas from the 90’s when they were smaller than the new Maverick.
And Pedo Joe wants to try to force electric cars with their cancer causing batteries that cost $20,000 to replace on us.
Which means forcing most people out of owning a vehicle.
Jerry
If I drive my LBZ Duramax like I have an egg under the throttle I can get 16 around town. I figure they gotta keep making diesel one way or another. Otherwise everything stops moving. It’s $7.00 a gallon in Cali
Uncle Al I am delighted to learn you hauled a hang glider around on the top of your Honda in the 70’s. I know just what you looked like. I hauled mine around Oahu on top of an orange colored Datsun B210 in the 70’s to the Waimanalo side and flew off the ridge right above where Obama built his new house 40 some years later.
Bought a 2019 SUV in April 2020 just before the chip explosion. Sold my other SUV 4 months later for $2,000 more than Blue Book. I also have a 2006 coupe that I rarely drive. I’m keeping it as a spare in case something happens to my daily driver so I don’t have to get raked over the coals buying whatever I can get my hands on at the dealership. A friend had to buy a Buick she doesn’t like after her RAV4 got totaled.
New cars, if available, don’t have fog lights, upgraded stereo,etc. (chips shortages).
Fully equipped low mileage version sells at or near new price.
I got a new Ranger LT last year. $38K.
Had to replace my 21 yo Ranger.
So why aren’t those chips made in America? Oh, that’s right: We have Chinese sponsored radical environmentalists, greedy lawyers devoid of ethics, politicians and unions who demand their cuts, useless citizens against all progress, outlandish site development fees, thousands of rules and regulations, environmental impact studies, and years of citizen’s input.
I’m in Oregano. My neighbors daughter totaled their 2019 Subaru Forester a few months ago.They tried to find a used car replacement. It was cheaper to buy new. They’re waiting six months for a new RAV4.
My brother recently sold his fifth wheel, and ski boat, for significantly more than what they cost him.
And I have a 2001 Camry LE, with 135,000 miles, for sale, if anyone’s interested. Runs great and has no mechanical issues that I’m aware of.
I bought a new Toyota a little over a year ago, got 4 grand off sticker. Uncle Al, did that hang glider give you enough lift to get your Civic airborne?
I bought a 1965 Ford Cortina when I arrived in England back in 1974. I paid $168 for it. I drove that thing all over the UK for two years. I had to replace the engine once with a used one and paid $85 including labor for that. I had lots of good times in that little car. Sold it for $200 when I left England.
@Wild Bill — I sure tried, but never quite got all four wheels off the ground! (-:
Better yet try to buy a one ton pickup. I ordered a F350 the first of April. I found out June 3rd Ford canceled my order. Now 5 weeks latter I still can’t find a F350 unless it is the ultra premium $80k+ models. I need a work truck.
Tsquared
Look at the Dodges. They’ve come along ways with the Cummings. They have a line called the Tradesman that’s reasonable, and available.
^^^^
But, it’s a Dodge for crying out loud!
My 2012 Dodge Ram has 250,000 miles on it and still going strong, but is showing its age. I looked at buying a new one and couldn’t see making those huge payments again, so my truck is in the shop now getting some much needed tlc. I’ll probably spend a couple grand, but I’m hoping it’ll last me a couple more years at least.
Don’t forget, when a dealer offers to buy your x-year old vehicle for “more than you paid for it new”, they are paying you with Biden Bucks; worth 30% less than 2 years ago.
I bought my Silverado HD 2 years ago and paid sticker price (for the first time in my life) and felt lucky to find it. But I do miss the days when I could get GM Family pricing.