Automotive bubble....has it burst?

This is the biggest difference (I see) between when I was a teenager and now.

Back when I was a kid, we saved for whatever shitbox we could afford. I had my eyes set for a CJ-5 so I started work at 13-1/2 when I could legally get a workers permit and started washing dishes at a rest home that I could ride the school bus too.

All my friends had shitboxes. NO ONE had a new car except the popular rich kids that lived on Hopkins Rd.

But for MY kids? I wanted them in something safe. Which meant likely newer than anything I was driving at the time. Because between my 16 and their 16 another 3 billion people populated the earth. Several million of those were fucktards from Ohio on their way to myrtle beach :rolleyes: and for my girls, I wasn't about to put them in anything that MAY or may not start or get them home EVERY time, so I didn't take any chances with safety.
Several of the parents my age sprung for new cars....and at the time I didn't see the logic. But as Ron pointed out to me, the peace of mind far outweighed the cost. But like Ron ALSO said...if you don't have teens (that you actually parent and are responsible for 24/7) these day, you truly do NOT understand the struggle.

Same here, with more distracted drivers out there, I want something that has all the airbags, emergency braking just in case, etc. People were not all on their cell phones driving when I got my license.

I don't think its as easy for kids under 16 anymore to also have jobs and make money as it was 20+ years ago either (longer for some of us).
 
(longer for some of us).
:flipoff2:I see you looking at me!!! You may consume a FULL satchel of Richards at your convenience

(realizing it has been, in fact, 35 years since I purchased my 1974 CJ-5 :eek: )
 
Some kids are just dicks right out of the gate despite the parents, parenting, or nurturing. You simply can't overcome nature.
Ah, so you were just inevitable. Noted.
 
Because between my 16 and their 16 another 3 billion people populated the earth. Several million of those were fucktards from Ohio on their way to myrtle beach who got lost in North Carolina and never left :rolleyes:
QFT and also FIFY
 
Because between my 16 and their 16 another 3 billion people populated the earth. Several million of those were fucktards from Ohio on their way to myrtle beach :rolleyes: - staring at their phone and taking instagram selfies while driving..... and for my girls, I wasn't about to put them in anything that MAY or may not start or get them home EVERY time, so I didn't take any chances with safety.

FIFY

Several of the parents my age sprung for new cars....and at the time I didn't see the logic. But as Ron pointed out to me, the peace of mind far outweighed the cost. But like Ron ALSO said...if you don't have teens (that you actually parent and are responsible for 24/7) these day, you truly do NOT understand the struggle.
Hey I pass zero judgement on what anyone else does.
Neither good nor bad.
 
Wife is looking for a new gas saver DD to commute to work in. We've seen several dealerships that have no small, 4-door gas saver cars on the lot at all. Most are taking deposits on cars that aren't even built yet. And most of them are adding on $2000-4000 on top of MSRP in add-ons and "dealer fees" and still have a waiting list of people.

The cars we are looking at MSRP around $21-24k, so that's an additional 10-20% on top of MSRP. Doesn't look like any bubble has burst to me.
 
I know that was a joke...but I'd bet we're not far off from that. As is, there are 96month options....what's another 2 years.
120 month is already out there. My BIL claims that a dealer offered 156 months (15 years) to him on a new F350 Tremor.
 
I was looking at a Ram 2500 last week that seemed like a ok deal with todays pricing. I ran it on KBB to see what their recommended price looked like. The asking price was at the upper end of the predicted value.

Yesterday I ran a couple other trucks I’ve been looking at in KBB and then re ran the info of the earlier truck. The predicted value was about $5,000 less than it was a week ago.

Maybe the market is dropping, or maybe sites like KBB are just having a hard time predicting values with the crazy market.
 
Didn't you read, if you do that she will be an entitled worthless kid forever! :cool:
I guess she already feels entitled to Mom driving her everywhere she needs to go and sees no need to get a license. 😂

But she’s a good kid, her anxiety is just to the point she doesn’t want to drive. And that’s not something we can force her into.
 
I guess she already feels entitled to Mom driving her everywhere she needs to go and sees no need to get a license. 😂

But she’s a good kid, her anxiety is just to the point she doesn’t want to drive. And that’s not something we can force her into.

I heard overall a lot of kids don’t want to drive. I really hope our 13 year old will want to. Hoping to make them run our errands 😂
 
I've seen several used trucks in the last couple of weeks at very good prices and less than 115,000 miles.
Might decide to get in the market.
 
"Nevertheless, be prepared for sizable monthly payments: They average $678 over 70.3 months (a couple months shy of six years) for new cars, and $555 over 70.8 months for used vehicles, according to most recent data from Edmunds.com. Interest rates also have ticked up and now average 5% for new-car loans and 8.2% if you’re borrowing to buy a used vehicle."
:eek:
 
"Nevertheless, be prepared for sizable monthly payments: They average $678 over 70.3 months (a couple months shy of six years) for new cars, and $555 over 70.8 months for used vehicles, according to most recent data from Edmunds.com. Interest rates also have ticked up and now average 5% for new-car loans and 8.2% if you’re borrowing to buy a used vehicle."
:eek:

It is almost scarier that people are borrowing longer for used than they are for new. Most of those people are going to be paying on a 10+ year old car by the time they are done (but likely will never be done since they will trade it in)
 
Yep, 6yr loans at $600/month.
 
Well, I don't know if the bubble has burst or if it is just living in the sticks....but I was surprised how long my last truck was on the market.

I suspect private sales of anything but a cheap beater are getting harder and harder (everyone is credit card rich and cash poor).

It seems like once I sell stuff over the $10k mark, it always takes people a while to come up with the funds. Glad to have one more space in the driveway this afternoon.

It will be interesting to see where this all lands, people aren't going to be able to sell the 10 year old car that they overpaid on a loan for, and clear enough to cover the balance when they are ready to move on. Maybe drop it at CarMax with $2k in the glovebox?

I am glad my wife is ok with us driving vehicles that we buy outright....and not chasing the Jones with their hand to mouth payment plans.
 
Well, I don't know if the bubble has burst or if it is just living in the sticks....but I was surprised how long my last truck was on the market.

I suspect private sales of anything but a cheap beater are getting harder and harder (everyone is credit card rich and cash poor).

It seems like once I sell stuff over the $10k mark, it always takes people a while to come up with the funds. Glad to have one more space in the driveway this afternoon.

It will be interesting to see where this all lands, people aren't going to be able to sell the 10 year old car that they overpaid on a loan for, and clear enough to cover the balance when they are ready to move on. Maybe drop it at CarMax with $2k in the glovebox?

I am glad my wife is ok with us driving vehicles that we buy outright....and not chasing the Jones with their hand to mouth payment plans.
There will be a government "rescue" plan to help the poor people out who were taken advantage of by evil capitalists.
 
That sounds like an interesting story that should be shared.
Don’t hold your breath

My buddy bought a car from them. Riddled with rust and the frame was almost toast. Driver that brought it to him told him not to keep it.
 
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Carvana isn't a scam no more than any other used car dealer is. They are all flash and make their money on financing. Do they peddle the occasional junk? Sure. They all do. Carvana was founded by the son of a successful nationwide used car dealer....they know how to wring every last cent out of cash poor people. Just another twist on used car sales. Nothing new.
 
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