Holy gaslighting. The chip shortage was constant news from 2020 through 2022, so nobody expected prices to crater. The anticipation was once the chip shortage ended we'd see prices go down a lot. The chip market just starting getting alleviated and won't be fully back to normal for about another 6 months. Used car prices are down 6% YoY, new car prices have gone up 4% YoY, but the wholesale prices have dropped a lot in recent months, so it's a matter of how that translates at dealer lots.

If someone can wait 6 months, do that. The recent trends are likely to continue and of course winter is the best time of year to buy.

Apparently average income in 2023 is $62,115

https://wisevoter.com/state-rankings...ncome-by-state

That **** has to be wrong.

Makes more fuked is how much taxes they take out of everyone. So them financing cars in that range puts them in a hole even deeper.

People don't want to drive POS cars or used ones. They want to be flashy like everyone else.

Covid was really interesting, economically. It taught entire industries how to collude with each other and raise prices, while also restricting supply. And every single one of them is smart enough not to take the short term easy cash and start overproducing again.

All at our expense. LOL @ rubes who think we have capitalism.

And yet traffic is still as bad as it ever was.

Take a look around more. If you recognize generations of vehicles you'll notice A LOT of 10-15 yr old vehicles unless it's a neighborhood where the houses are all 7 figures. Repos are up 20% this year and it's far from peaked. I want to see what happens if student loan borrowers do start paying their loans back this Fall.

i got a 20 year old 5.3 vortec silverado for $4k like 10 years ago for truck stuff, its been a tank. if the motor blows up well i dont really giv a fuk. ill put another 1 from the junkyard for $400 in it.

I dont understand dropping 60k on a truck. I mean maybe if its a 1 ton diesel.. but at the same time you could buy an older superior one for dirt cheap from pre 2008 without all the EPA chit on it

It might get better for normal commuter cars this fall/winter since student loan payments are supposed to start again, so manufactures might start offering better incentives, but if you want an enthusiast car I doubt those will fall much this year.

even cars that dont run are going for 2500 now ..20 year old trucks with 300k miles and beat apart are 20k

[QUOTE=ErnieMccracken post_id=1687738303]Covid was really interesting, economically. It taught entire industries how to collude with each other and raise prices, while also restricting supply. And every single one of them is smart enough not to take the short term easy cash and start overproducing again.

All at our expense. LOL @ rubes who think we have capitalism.

[img]https://i.imgur.com/tUTHKFI.png[/ig][/QUOTE]Seems like all it would take is one manufacturer stepping out of line to fill the cheap car market viod the overreaction to covid created to fuk that whole game plan up.

I got my 43k truck for 37k out the door with a 9k manufacturer rebate at 2.9%.

2 years later I got a cash offer from carmax for 38k.

Go buy my used truck.

car dealers are loaded with vehicles that no one wants to buy.

It's hard to imagine one of these companies won't get a little greedy and start putting some extra units into the supply chain. And then that CEO will be epstein'd.

Picking up a car for 38k tomorrow, gonna flip it for 50k+ srs. You guys gotta order max.

what? Lol

They will only get more expensive. Manufacturers are having to spend billions developing new EV's.

How do you think they are generating the cash to pay for these? By milking profits of ICE buyers.

Vehicles like the Toyota Prius, Toyota Highlander, Honda CR-V, Toyota Camry, Honda Accord, Toyota Corolla, Honda Civic and Toyota RAV4 are impossible to find because of high buyer demand and low supply. Ford F Series, Ram Pickups, Full size GM pickups, and most Truck based SUVs have skyrocketing inventory because buyer demand for them has fallen off a cliff because of them being insanely overpriced. Hopefully manufacturers that stopped making small cars like Ford will lose TENS of billions in the future and learn a valuable lesson.

Eh this isn't always the case.

Sure you can buy a used car with cash and it may be fine for a few months until you're hit with some $800 bill from something needing to be replaced. I like the peace of mind of having a new car. I don't have time to wake up one morning only to find that the fuel pump or alternator took a chit. Then I gotta make arrangements to have someone take me to Autozone or even worse have the damn thing towed to the "Stealership" where they spend 48 hours just to diagnose the issue and an additional 4 days to fix the problem. When you have a new car you don't have to deal with any of that chit. I fill up the gas tank, I change my oil every 5k miles I change my tires and i'm good to go. None of this worrying that i'm going to have a radiator leak or the master cylinder needing to be replaced.

Majority just look at payment, don’t care about anything else.

Once companies see people will still pay the price it will never go down; I miss the days of Progressive soup being 2 for $3, now it's like $4.XX per can. Everything is going to stay up.

Biden has mandated in a few years from now that only EVs can be sold. EVs are expensive, more expensive than ICE vehicles. I imagine so long as that EV mandate remains in place car prices will remain high. .

If you told me this^ 3 years ago I would have fallen on the ground laughing at your retarded theory of flipping a $38k car for profit....

We are truly living in clown world right now.

Yes I too take my brand new car with a warranty to an independent auto shop where I will then have to pay out of pocket.

Imagine buying ANYTHING other than a Toyota. Brb holds value, last forever.

My 2020 Tundra MSRP’d was 45K, brb 35k miles later still 45k.

This ,I feel like that with cars

I'm looking for a certain model

If I get a notice in my email and say f it I read it tomm

9 times out of 10 it's gone

30k car ,everyone is supposedly broke ,but they being bought up like they're. Being flipped

I don't get it

Lmaoooooo, this

Who the **** is bringing a new car anywhere but the dealer under warranty

Unless you don't take care of your car a warranty is a carrot

I do my own work, why the f would I bring my car back to a place I can't stand going in the first place


It's a scam to get you in the door

So they can put cheap parts and tradh fluids in yiur car

Then give you a list of 40 things you "need"


Oh hey listen, you got a washer missing on that bolt

Hoe much is the washer?

$7


Meanwhile they left the part off last time

Keep your fkn warranty, I do it myself

Good for you, I'm not working on my girlfriends 2020audi. Hard pass, warranty it is. Been with the same audi dealer for 15 years.

You go slave away on your beater, while audi comes and picks my girls car up from the driveway and leaves the loaner in its place. Zero effort. Audi is not your local Ford dealer trying to rip you off, they provide a much higher class of service.

I work on my jeep myself because it's a weekend car, I take my subaru to the dealer but it only has 12k miles so it's barely been serviced anywhere or needed any work.

If you want to work on modern audis. Be my guest, no ****in thanks.

Find a car or truck with a manual transmission, and see how low you can get the price down. 0% of Zoomers, and 10% of Millennials know how to use 3 pedals.

Same.
Some places show median and some show average. Often times the number published is "household income" which is a bigger number than individual income. Household is kinda squishy to say the least as you don't know if that is one person working 40 hours, or 1 working 40 and one working 20, or two people working 40 hours, or one working 60 and one working 40, etc. Then above that the data is pulled from more than one source [SSA, IRS, US Census, etc.]



^^^
Higher median than 2019, but not doubled. We also had about 20% of the US on Medicaid in 2022, so half making around $44Kor lessfits that much better.
That seems high TBH.
Agree. My first new car was a Corolla/1999 for $12K. Second was a Honda Fit/2007 for $18K. Can't wrap my mind around paying $40K+ for a vehicle and the truck prices are insane.
Except I've been hearing that repos are booming for close to a year already.
^^^
Like so.
IDK how many are sitting. I did here that some dealerships have been hosed due to some big players leaving the floorplan space [think that is what it was called]. This would be finance companies which float the debt on the inventory that is sitting on dealer lots awaiting sale. Without essentially a factor stepping in to do that many dealerships had to close or else carry much less inventory on their lots.
Yes. Travel and private transportation only for the wealthy/well connected while the plebs are stuck in their 15 minute cities in electronic cages made with cameras/pings to make sure they don't leave on "climate lockdown". If this + digital only money gets a real toehold...well you don't want to go there.

Unless you are one of the elite who won't be effected and can just pay all the carbon reparations or whatever BS extortion system is in place.

People buy super expensive trucks for clout.