There is an amazing glut of nearly new used cars and trucks here, I assumed that they were coming back to the dealership.
Thanks for educating me on that.
There is an amazing glut of nearly new used cars and trucks here, I assumed that they were coming back to the dealership.
Thanks for educating me on that.
Cars are a lot more liquid, and disposable than homes. However, I see A LOT of $100K cars around her. A LOT. I can't imagine paying that kind of money for a car, and I suspect many don't care about the sticker. Like others have said, many just buy on monthly payment. WRONG. Dealers just want to sell cars any way they can.
GM SUVs are crazy, especially the Full Size Tahoe/Suburban/Escalades. Especially if you get anything worthwhile on them, The only thing crazier than their sticker prices is the resale after a couple of years being so low. I buy 2-3 year old Escalades from elderly drivers with low miles. Near half price isn't a stretch. It's funny how big American SUVs don't really get that much scrutiny, but a $70-100 foreign car does. Interestingly, here in CO, the families that are going up and down the mountain most weekends for skiing pretty much have Suburbans- and they run them 5-7 years.
The Second Amendment ACKNOWLEDGES our right to own and bear arms that are in common use that can be used for lawful purposes. The arms can be restricted ONLY if subject to historical analogue from the founding era or is dangerous (unsafe) AND unusual.
It's that simple.
What your seeing is off lease cars bought at auctions. A certain percentage are clean trade ins that the dealer kept. Most money to be made on cars are on used cars. Everyone knows the sticker price of new cars and you know you can bargain a little. Used cars is where the money is at. You don't know how much the dealer payed and while you may have slightly more room to negotiate the dealer can make a killing.
Example
I drive a 2010 Corolla. It was my sister's lease. At the end of the lease she had the option to buy it out. She didn't want to but i did since my car was dying (300k miles... transmission starting to slip...not worth fixing). The buy out for a 4 year old car with 26k miles was $12,500. While waiting I walked the lot and they had a 2001 Corolla with a 100k for $12,000. That's $500 less then my car, 9 years older and 75k more miles. They'll sell it cheaper if you negotiate. Maybe knock off $2 or $3 K if you have cash in hand but they probably paid $2 or $3k to begin with. However if you have bad credit and financing that car expect your final price......when all is said and done to be around $20k or more
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Last edited by Arik; 07-18-17 at 09:12.
I have run my last 3 cars (between wife and I) to 10 years. Would have run them longer, but the maintenance costs were mounting, so they had to go.
Prices for cars are set by factory cost, AND what the market will bare. With people being stupid about payments and banks being stupid about lending that second part of the equation gets skewed pretty harshly. This is why folks get hosed paying $50k for an SUV worth maybe $30K at best.
Yes it is ridiculous these days. SUVS/Trucks costing up to $60k for the premium line. When you can buy a lightly used truck (Tundra, F150, etc) for less than half that.Originally Posted by glocktogo
When did vehicles get so expensive? Its a terrible investment (if that even makes sense). Put your $60k on this asset and it will be worth 50% in 4years!! Suckers...
Friend of mine does this with VW's because he's obsessed with them. He buys a certain model then a few months later trades it in for a nicer model. He must've done this like 3 times in one year. He is upside down on his payments but doesn't really care. He owns like 4 VW vehicles in his family. The dealer must love him...
I'll be seeing my friend after our group's summer hiatus is over and see if I can get to the bottom.
My grandfather liked driving new cars, so bought a new one every year. He'd been going to the same local dealership for years, originally buying from a friend, then the salesman his friend handed him off to when the friend retired. Every now and again they would call him and ask if he was ready to trade as they had someone looking for a truck like he was currently driving. Granddad was shrewd enough I don't think he was getting boned. I figured the salesman was getting base commission selling him the new truck as cheap as he could and then making he real money on the used truck sale.
I'm a little surprised that we haven't seen Hyundai and Kia pickup trucks by now.
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