Truck owners paying 60% more for new trucks than ten years ago

The growing cost are related, nearly solely, on the way buyers finance them, and who makes the loan.

Its nearing a bubble gents. Nearly 40% of all auto loans are 30 days past due. And some 20% are over 90days past due. Further, more than half of all loans are financed via a auto makers "bank". Those banks are only as solvent as the manufacture who props them up.

 

How long before the first $100K MSRP Tundra hits dealership showrooms?

 

Not questioning your numbers per se, however those numbers are staggering.. do you have any links or outlets you sourced? That's crazy.

I'll google..maybe I'll find something

https://www.theday.com/article/20190213/BIZ02/190219797

 

X2^
I had same issue finding a low mileage, good condition, used in my area. People always quoted msrp for what it was new. After negotiating with a few dealers on new tundras in inventory it didnt make sense to buy someone else's driving habits and unknown issues on a used.

 

Used vehicles usually have different financing/lending standards so it may be easier for a subprime buyer to get into what they want

 

X3 its pretty much like the used market is now for those with bad credit and the dealers are taking advantage of them with the pricing. I'm with you for the little extra it cost to go new it was worth it.

 

Many used car buyers have poor credit and get railroaded into loans of 12+% I would imagine lots of the past due auto accounts are this category of buyer.

The loan bubble is far larger than car loans. That is nothing. Look at how much outstanding student debt there is; much of it will never be paid back and eaten by us the taxpayer

 

https://www.caranddriver.com/news/a26310943/auto-loans-numbers-delinquent/

 

Startling, but I can see how its got there. Every time I turn around something is increasing on me whether it be internet service or local govt reaching into my pocket because they overspent, groceries, gas you name it. Wages however are not increasing. which then I have to reevaluate my budget and make a cut somewhere to compensate.

 

That F-250 for $562.00 a month for 84 months. No thanks. I just save up for my vehicles. Peace. D

 

I dont know how much Toyota is willing to come off msrp, but GM is selling $56k msrp 2018s for <$39k...and still cant give em away. They overprice things to make you FEEL like you get a great deal....
Campers are even worse, I paid 37.6% less than MSRP on a new 2018

 

prices double on everything every 15-18 years, so thats about right ...nothing to see here...

 

Many new car buyers also have poor credit, and they face the same treatment.

 

Domestic seem to play that game alot. I was pricing f150s until i bought a tundra and 16-20% off msrp was not unusual. Scary that some folks pay almost full msrp. I think Toyota prices fair but not going to see blockbuster deals until the market gets soft enough.

 

Except for fast food, seems like it is cheaper than 15 years ago

 

you know your right on that!... Pizza seems way cheaper than 20 years ago...must be the chinese mozzarella!

 

Asses are also fatter than 15 years ago.

 

You too? 35cents in the 2 weeks since I traded the 24mpg GMC for the 15mpg Tundra! Lol.

I had a 1999 Dakota R/T that was in the single digits in 2003 when gas first cracked $3....

 

100% agree.

 

Government subsidies on the junk soy and wheat ingredients

 

The dealer I got my truck from stocks special edition models like TSS at something like 90% of stock because of this. The additional discounts that get offered are typically used to offset negative equity on a trade or serve as down payment.

 

I just watched three morons fight over a brand new Jeep Wrangler rubicon 4 door with a lift and rims... My buddy stopped in to look at it and test drive it. The salesman wouldn't let it off the lot. And the sale price was........... $65,000!!!!! WWWWWTTTTTTTFFFFFF?????

 

Believe it or not my 18 Jeep Wrangler sport on 33s gets 21mpg some of the guys with 35s and up are getting 16-18

 

Don't know @TRDSPORT118 My buddy is having a mid life crisis and a shiny lifted jeep caught his eye. He got over it real quick when he heard the price and the bidding war. This cheap money that everyone is throwing around will ultimately be the end of us. No money down seems dumb enough, but the negative equity from the old car can go in there too. Houses with no money down? 12 months same as cash? All of this will blow up. I put over $30k down on my tundra. The dealer thought I was crazy for not "using the banks money". I guess I'm old fashioned, but if this economy switches, it's a hell of a lot easier to make a $300 payment than a $750 dollar payment

 

It's crazy to see what dealers mark up on some items. A few years ago while I was waiting on my truck to be serviced, I was browsing the lot just to kill time. The dealer had a 2014 tundra, that was leveled with slightly larger tires and rims. I started browsing through the sticker to see what they were charging for it....they had "Lift Package, Wheels and Tires" listed for an additional $10k!!!!! A sales guy saw me out there and started trying to talk to me about that truck and what a good deal it was. I told him he was full of crap, they had a rough country 3/1 leveling kit, XD monsters, and 285/65/18 trail grapplers listed for $10k.....I could take a bone stock truck and put all of that stuff on there for less than $4k!

 

IMHO, financing a vehicle for more than 48 months is crazy.

 

If I can't own it in four years then I need more money down or a cheaper truck. I also am the boring guy that gets a 15 year mortgage and pays it off in 10. Debt is the most powerful weapon in any man's arsenal. Use it wisely and you will conquer many things. Use it like a moron and you will die poor with nothing. Einstein had a quote... "Those who understand compounding interest earn it... Those who don't understand it pay it". No body "needs" a $60k truck, but due to the world we live in, everyone seems to want one. I guess I just don't drink the cool-aid and I find it hard to fit in when everyone else is running around like its a party in Vegas every weekend.

 

This is just further proof that Society needs to change.

 

Depends on the deal - I bought an '07 TRD 4WD Dbl cab new for $33k and just bought a '19 4WD Dbl cab (no TRD) for $35k. Not too bad considering the 12 years difference.