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I am more or less in your boat but the average passenger vehicle is now selling for almost $50K. That would be more than twice what I've ever paid for a new veh
by wnissen 4y ago
I am more or less in your boat but the average passenger vehicle is now selling for almost $50K. That would be more than twice what I've ever paid for a new vehicle (which is 15 years old, but still!). I'm not sure the EVs are that uncompetitive compared to the current options.
- bryanlarsen 4y agoIt doesn't take many expensive cars to really skew the average. The median is a lot lower than $50K.
- nradov 4y agoEven if you exclude luxury brands the average is still $45K. https://www.coxautoinc.com/market-insights/kbb-atp-december-2022/ https://www.coxautoinc.com/market-insights/kbb-atp-december-...
- bluGill 4y agoPeople who care about costs will prefer a used car with all the luxury features of a few years ago vs the basic new car. People who are willing to spend money on a new car demand luxury features. There are business who buy basic new cars yet (tax law and deprecation makes this a smart move), but otherwise nobody will buy a basic new car: there is always a better deal. In the 1950s a basic car made a lot of sense as cars did not last as long (without major maintenance - engine rebuilding used to be a lot more common)