Quote:
Originally Posted by Ponchonutty
I was referring back to what someone else had stated about the fast increase in pricing in just the last 5 or so years. Compound that with financing makes it even worse. Not only spending more money on the vehicle itself, if you finance it because of a higher price, you pay even more. More money loaned out even at low APR, is more money for the car makers and financers while middle class income is stagnant. I certainly understand inflation but it use to be income would follow that, it doesn’t. Also, I spoke to a very high GM executive a long while ago about their pricing games. They like high MSRP with heavy rebates and discounts. The reason is that it conditions the next buyer to pay more. Also, even though I love GM vehicles and own several, I don’t think the value is really there. Yeah some of the drivetrain is great but MAN DO THESE THINGS RUST LIKE CRAZY NOW!!! I look at my 2008 Yukon compared to my son’s older Mercedes and I am befuddled! His car that’s older and has more miles has nearly no rust where my Yukon has had to have several rust repairs along with very expensive suspension repairs too
|
Yeah, and wait til rates go back to more normal levels. We have been living in a dream world with interest rates for a long time. 70k trucks will be sitting on lots when rates go back to 5, 6, 7 percent. My credit union is already at 8.49 for 85 to 120 months. Here are two screen shots of what that interest looks like for 85months and 120months. Wow! Pay an extra $23,000 to $34,000 in interest. So is 2018 quality that much better than 10 years ago to yield paying over 100K for truck. I dont think so for the fellows making that argument. This cant keep going. It will come to a crashing halt.