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> The people who buy new obviously tend to be well-off, and are often older. One might think this to be the case, but the breakdown of new car buyers shows abo
by djrogers 6y ago
> The people who buy new obviously tend to be well-off, and are often older.
One might think this to be the case, but the breakdown of new car buyers shows about the same % of buyers make <50k as those who make >100k (roughly 1/3rd in each cohort, but varies based on vehicle type). Sadly, many of those buyers will take out out a 72-84mo loan that they probably can't afford in order to pay for that new car.
- Loughla 6y agoWe priced out pickup trucks recently for shits and giggles (because we live in rural america and really have a decently often use for one). They're so expensive. And the dealer pushes the 84+ month loan to bring the payment down. Like, I get that it's a $450/month payment, and that's supposed to sound reasonable (it isn't reasonable, at 3/4 the cost of our mortgage). But it's for 8 years! There's no way this truck is going to last that long. Who does this? Why?
- argiopetech 6y agoDon't forget full coverage insurance for the length of the loan. The insurance companies must love pickup buyers. I will say that most 3/4- and 1-ton pickups will last 10-20 minimum under "farm life" conditions if maintained. This said, maintenance isn't cheap.
- djrogers 6y ago> There's no way this truck is going to last that long. I agree with everything you said up til this point. Unless you crash into a brick wall, a modern pickup will last at least 20 years. Look on Craigslist or FB marketplace for 2005ish F-250s - they’re still fetching 5 figures... Heck, I won’t even look at a truck less than 8 years old until my next stock option boat comes in...
- gbronner 6y agoLast three f250s were 86,79,99. All were used as plow trucks. Last one is still going Never seen an electric plow truck