That’s true. And it’s a lot of money tied up in over priced cars.

So very true after the thrill is gone! Get real people!

I always thought so. Until I owned a boat!!

I agree but a 2011 Tacoma I bought used in 2012 is still runnin’ strong and I hope it outlasts me.

99% of cars are liabilities

10 yrs. ago I bought a 2006 Pontiac GTO for $12,000. Today that car is worth almost double that amount. There are exceptions but you are right.

Vehicles should not be considered as investment opportunities. They are depreciating assets that may occasionally hold some equity value. Viewing vehicles as investments is not a sound financial strategy.

9

after receiving hand me downs, I have bought the last two used cars cash. little older but no bank or payments and I owe people nothing. never bought a new car. not sure if i will.

there was a time when buying a house you had to pay cash or pay 90% and get a small loan for the remainder...those times are long gone as are the times where buying a car cash is possible...used cars are now thousands...money someone looking for a used car just cant come up with.

Debt is tax free tho. The only time I will take on debt is to make money using it. If it pays for itself it's a deal. I borrowed 3500 July 1st and I'm up 2500 and 3 payments ahead.

I'm a senior, too. My truck is 54 years old! Last new car...my 2020 Camry. That's it!!

Clickbait. Cars a evil

You are welcome

Sounds like a blessing in disguise

Since 2020 there is a rampant wealth disparity that continues to grow by the second. The rich get richer, the poor get poorer! Corporations are in for a reality check trying to sell 100k Ram trucks or 95k Jeeps.

Its totally ridiculous

My dad bought his house for $32,000.00. It's a nice house too.

Sadly, even the cost of replacing peripheral stuff like that has gone up a lot.

@@donmarek7001 Yes it is awful, and there are fewer and fewer techs are out there, and I can tell you from experience, dealer techs have not known how to start a car with a carburetor for a good 15 or 20 years now. They think you merely turn a key. Still, all I am after is getting another forty to sixty thousand miles out of it. It's a bit of a gamble. Plus, I hate paying them sales tax on a car purchase. Best wishes!

Thank you so much and I am that friendly neighbor who has enough experience and knowledge but take a personal exception to dealers and the big players playing g hardball and nasty with consumers. I hope you have a wonderful week. Cheers

Sadly, this is something I constantly have to explain to people who don't have the ability to think for themselves and are thirsty enough to drink the Kool aid provided by mainstream media.

They are out there, gotta shop around

Cash is definitely king

Thank you for watching

That’s pretty crappy and clearly the pandemic generated a new world of sharks who are ruthless. This new economic condition has set many people to failure. I wish I. Old Cantonese’s but that market is pretty built these days too so unless you go really old as in over 10 years, prices are stiff there too.

I just returned a 3 yr lease Silverado. Absolutely beautiful till you figure buy back of 53 k plus bank interest. I said no fn way. Found a low miles Silverado, great shape and NO monthly. Wife and I feel great !

Indeed

I work on my on cars . Haven't bought a new since 2007. Never have a "NEW" CAR AGAIN !!!

I will never understand people like you 150k and finding it tough. I have never in my life made over 30k . I own my own home that sits on 160 acres of land and I drive a brand new car. I am not bragging but I do wonder what you do with your money. Oh and I might add all of this was bought and payed for with my own two hands no hand outs.

What city in eastern Pennsylvania?

@@dog_guy-c8x Of course it matters WHERE someone lives here in the USA. Your $30K, new car, and 160 acres...where is that? Sounds like BS to me. The poorest parts of Mississippi...Alabama? Your $30K wouldn't go too far anywhere else!

@@dog_guy-c8x you couldn’t afford a tool shed here. I never said I was broke, I said I make a good wage and drive a cheap car. I invest for the future and save. My complaint is how far money goes in my area. An acre of land slightly south of me can be 100k. In my specific township it’s 50-70k for an acre of land. If you made 30k/yr in my area, you’d be so far below the poverty line you’d be lucky to get a roof over your head. Obviously you live in a very cheap area to live.

@@azmike3572 Lehigh valley area.

I totally agree! Thank you for the support and I agree , these prices are brutal and people in general need a break

Exactly and even a crate engine may only cost 7000 and it’s a new lease on life

Thank you very much

Thats about right

I just quit as an electrician at Jefferson North Assembly after 5 years. That's where the Durango and Grand Cherokee are built. I couldn't tell you the exact costs, but I can tell you the entire auto industry is ass backwards. We re-tooled in 2022 for the new gen Grand Cherokee. I got put in charge of a line that put the sides and roof configurations on. In the body shop part of an assembly, electricians oversee each line in the process. We clear faults, adjust parts, etc. Basically everything but electrical issues. I told you, ass backwards. We got to a point where we had an issue nobody could track down. I asked my boss where the hell are the drawings at, this thing is brand new??? I was told we had NONE!!! We didn't get a set of drawings because those cost extra from the builder. Some of the components used on the lines are ridiculously expensive. I had 4 laser head weld robots on my line. Each one has this little glass disc called a cover slide. We change them out around every 1 to 3 shifts. Each one of those costs $700. Remember I told you I just quit??? While there being in the UAW, I didn't pay for my health care premiums. My new job is $100 per check. The union will tell you the wage and benefits only take up 5% of the cost, but I don't see how. Not with how much health care costs. The auto industry is an industry based on a whole lot of bull$hit. There's plenty more I could tell you.

Sometimes it's not worth the headache to stay in a job. Auto makers need to start working smart and cost effective.

@@Technocrat. my friend Stellantis really doesn't understand that. Even when it was still FCA they didn't understand it. During the re-tooling I noticed all the managers were wearing fancy high visibility vests with their names embroidered on them. One shift we needed a new part, but the crib wouldn't give us one because they only had 2 left and I was told it would be too expensive to order more right now. I get back to the line and one of the visiting engineers from Canada was there when I told the guys we couldn't have it. Then I said it's amazing we got money for fancy vests, but no money for parts. The manager pipes up with "it came out of a different budget blah, blah, blah." I looked at him and said and you're missing the effing point. When the big wigs from Stellantis came to visit and tour the plant, they spent $275,000 to repaint and epoxy the floor. The big wigs asked the plant manager why would you spend so much money for that??? Craziest industry I've ever worked in.

Yes that’s a great point and people often use credit cards as leverage rather than a short term convenience and end up spending way too much money

Yes used prices are strong right now and deals are few and far between

Nope. It is a government spending using fiat currency. If you don't like a company don't buy from them.

@@scottthompson5855 incorrect…. Government doesn’t pay you… company do.

i agree. $99k dodge rams. $85k 4d wranglers. who has that kind of money? these prices are chasing people away from new cars. they will switch to used cars. 07 camry 150. runs like a top. will drive it into the ground. keeps me out of this insane car market.

@@subaruamazon my paid off 06 Mustang GT keeps roaring on.

I just looked, one dealer had a '12 1500 reg cab sport for $30K.. I bought my '12 1500 Laramie used in '15 for $36K.... that's nuts. The "new" version of my truck is $95K-ish I was told at 6% that would be $700 bi-weekly... hell no.

@@polycarphunter2257 after 7 years of talking about it, i bought a 01 gt conv auto. two years ago. 101k new top. i love it. my next one will be an 05 09 gt manual. they are the best looking I think. is it me or are stang prices on the move?

@@gold5th 1400 a month. dont forget ins. take care of your truck. change oil every 5k or less. keeps you out of this market like my 07 camry.

Keep it going as long as it runs

Indeed

cheers

Yes but over 11% of car loans in the US are now OVER $1000 per month

ha, try 1200 1400 1700.

You did not mention the fore-thought of: You also have to FEED & Clothe the beast.....Big oversight OPP's

Haha yes it is

dont forget to coca cola, pepsi and all other food companies.

@@subaruamazon Dream on Trumper. He is already spouting about tariffs. Who pays that tax?

@@sgtcrab2569 they can act as a deterrent.

Thank you

Number may climb but when adjusting for inflation almost everyone is losing ground. Yes it’s clearly stated and the bottom Line is your money does not go as far as it did 5 years ago. Thanks fornwatching