New cars are expensive, but too many people are keeping the prices up by paying too much for their new vehicles. I have a feeling many people will find themselves underwater, not happy with their notes, and repossessions will rise. That, or more insurance fraud. Time will tell, but the current car market is something to avoid.
Agreed. The lid is about to blow . . .
ReplyDeleteMercedes has a new commercial for pre-owned cars. All the bells-and-whistles certified, and a lifetime warranty. There must be too many used Mercedes, and I have a feeling the reason isn't because of a rush to buy new ones.
DeleteI had to buy a truck last summer when my 2001 Ranger lost it's transmission.
ReplyDeleteThe 2017 F150 with 40K I bought was priced higher than when it sold new.
I should have fixed the Ranger. Again.
My last work truck had over 200,000 miles on it, when the transmission failed. It cost $3200 to repair, was at around 280000 when I retired, and my boss sold it to of the operators working for him.
DeleteI'd always used synthetic oil, so the engine was in good shape, the A.C. was a $1200 repair years before, and was in great shape. All in all, the cost to keep what I considered a good truck going was less than a handful of monthly notes. That, to me, was a plus for the company, and kept me in the vehicle I liked.