New Vehicle Prices
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Elder User
Joined: Sep 2004
Posts: 758
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From: Northern PA
New Vehicle Prices
Am I the only one who is fast becoming unable to justify a new car purchase?
Shoot, with crappy to nonexistent cost of living raises, college tuition for the kids, and the generally rising cost of taxes and utilities, used vehicles make a lot more sense to me.
I like the new stuff, but I don't even look any more, sticker shock is a horrible thing.....................
Shoot, with crappy to nonexistent cost of living raises, college tuition for the kids, and the generally rising cost of taxes and utilities, used vehicles make a lot more sense to me.
I like the new stuff, but I don't even look any more, sticker shock is a horrible thing.....................
Senior User
Joined: May 2003
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You are not alone in that sentiment. I picked up a fairly loaded 2002 Ranger XLT S/C for $12,500 in 2003 with 23,000 miles on the odometer. Vehicle probably stickered in the neighborhood of $19-22,000 when new. That's a big hit to take in depreciation for a "new" car. I figure let some one else eat that first or second year depreciation.
Elder User
Joined: Jun 2004
Posts: 540
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From: Northern MD
How about getting over the "Jesus!" stage, that occurs well before the "Justify" stage. I wonder if I'll ever get another new car, with the way prices are. It used to be that you paid your car off and had about one year before needing any work on it. Nowadays, you'll be replacing tires, etc. before you get it paid off. Used cars are looking better every day. Not that I like 'em, but what choice do you have? Now if I hit the lottery, all bets are off! 
Senior User
Joined: Oct 2004
Posts: 466
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From: Pt St Lucie
Ya i dont think Ill ever buy a new truck for the wife or me I mean I want a new PSD but I cant see paying 40,000 for a crew cab like I want so I guess Ill keep my ole truck it aint let me down anyways
Posting Guru
Joined: Sep 2003
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From: Near Wamego KS
My boss bought his first house in 1954 with an EIGHT YEAR MORTGAGE (according to him it was a common loan period) and paid it off with his wife staying at home and only him working as a mail carrier. Now you finance your house for 30 years and your car 6 years.
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Elder User
Joined: Sep 2004
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From: Northern PA
I know. "They" (whoever 'they' are) say that new vehicle prices are not much different these days, factoring for inflation. I'd agree with that, but I know my own pay has not kept pace with inflation, and I'll bet a lot of us can say that.
Sigh........everything goes up but our pay.
I haven't researched the latest loan default rate, but people seem to be able to keep buying new vehicles........................
Sigh........everything goes up but our pay.
I haven't researched the latest loan default rate, but people seem to be able to keep buying new vehicles........................
Post Fiend
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From: Central Kali
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Senior User
Joined: Aug 2004
Posts: 432
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From: Central VA
I would like a new car, came close with all the 0% financing, but it just makes so much more sense to buy a car 2 or 3 years old that's 50% cheaper and still 75% or more of it's expected useful life.
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Posting Guru
Joined: May 2004
Posts: 1,366
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From: Northern Utah
Talk about sticker shock: My wife said she would sure like to get a bigger SUV for herself, after riding around in my 03 F250 crewcab 6.0 diesel. So I spotted a nice looking Cadillac Escalade and pulled in to take a closer look: $62,500
I got back in my big'ol truck & high tailed it out of there! I guess I shouldn't have been looking at a GM anyway.
I got back in my big'ol truck & high tailed it out of there! I guess I shouldn't have been looking at a GM anyway.
Last edited by utahtom; Oct 4, 2004 at 05:09 PM.
Thread Starter
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Elder User
Joined: Sep 2004
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From: Northern PA
Yeah, I agree with you guys. Let somebody else take the depreciation hit. Then we can buy it after they get tired of it after a couple of years, and they decide they want another new car.
LOL about the Escalade. Don't see many around here, but a fair number of Expeditions and a few Excursions.
LOL about the Escalade. Don't see many around here, but a fair number of Expeditions and a few Excursions.
Junior User
Joined: Aug 2004
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Hmm, I'm about to buy a new 04 ranger XL. I looked at some 1-2 year old rangers and they where $12,000 - $14,000 BEFORE our 15% tax. Added on that is 4-6% financing for used vehicles.
Yup, we are taxed twice on vehicles in Canada. When I buy a new one and eventually when I trade it in, the new owner pays ANOTHER 15% tax on it.
A new Ranger is $17,900 plus 15% tax. All Canadian funds by the way.
So by the time the trade comes off the purchase price, $1,500 in rebates, add on the 15% tax and with 0% financing I am paying $15,300 - on the road.
Just look at this example:
2001 Toyota Tacoma 4cyl, 5 speed standard, 55,000km $17,990. Lets say I talked them down to $15,990 minus my trade of $3500 plus 15% tax = $14, 363. That's only a $936 in the difference for a 3 year old vehicle. THEN you have to add on the financing. Plus you MAY be getting someone elses problem.
Don't see the advantage of a used vehicle guys.
Do you guys in the States pay taxes on a used vehicle?
Digger
Yup, we are taxed twice on vehicles in Canada. When I buy a new one and eventually when I trade it in, the new owner pays ANOTHER 15% tax on it.
A new Ranger is $17,900 plus 15% tax. All Canadian funds by the way.
So by the time the trade comes off the purchase price, $1,500 in rebates, add on the 15% tax and with 0% financing I am paying $15,300 - on the road.
Just look at this example:
2001 Toyota Tacoma 4cyl, 5 speed standard, 55,000km $17,990. Lets say I talked them down to $15,990 minus my trade of $3500 plus 15% tax = $14, 363. That's only a $936 in the difference for a 3 year old vehicle. THEN you have to add on the financing. Plus you MAY be getting someone elses problem.
Don't see the advantage of a used vehicle guys.
Do you guys in the States pay taxes on a used vehicle?
Digger
Super Moderator
Joined: Apr 2004
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We pay the same 8.25-8.5% sales tax on new or used. Registration is additional, but is based on value so the newer car pays more.
I like to buy them nearly new if I can find the right options. Takes a few thousand off. 2 years old off a lease is a good one too, and cheapo financing can be had in some cases.
They are all a money pit. Trade every 10 years vs. every year or two and save megabucks.
I like to buy them nearly new if I can find the right options. Takes a few thousand off. 2 years old off a lease is a good one too, and cheapo financing can be had in some cases.
They are all a money pit. Trade every 10 years vs. every year or two and save megabucks.
FTE Leadership Emeritus
Joined: May 2004
Posts: 18,787
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From: Melbourne, Aus
I only sell my cars/trucks when they die beyond reasonable repair.
So if it goes for 50 years, thats how long I will be keeping it.
I try to look after my cars a bit (but I am still willing to use them the way they were designed), I always have them serviced at or before their schedule, I give them a good "running in" period, any noises/vibrations mean the vehicle will be looked at imediately, I always wait till the engine is at full operating temp before loading it up, or accelerating hard.
I think prevention is better than cure in this regard.
I also have gauges and the largest possible coolers installed on everything possible.
So if it goes for 50 years, thats how long I will be keeping it.
I try to look after my cars a bit (but I am still willing to use them the way they were designed), I always have them serviced at or before their schedule, I give them a good "running in" period, any noises/vibrations mean the vehicle will be looked at imediately, I always wait till the engine is at full operating temp before loading it up, or accelerating hard.
I think prevention is better than cure in this regard.
I also have gauges and the largest possible coolers installed on everything possible.
