Why are pickup trucks so expensive?

[TripleDigitRide]

What I want to know is how these people are affording these vehicles. I make pretty good money(far more than average for TN) and I can't afford a $800+ car payment. All I can figure is that people must be in debt up to their ass.

Our 2012 Rav4 will be paid for in about 10 months. We plan on keeping it as long as possible. My 2002 Corolla is obviously paid off and I plan on driving it until the wheels fall off.

I just want a decent truck I can drive on the weekends and tow a small trailer with.

Some people can easily afford those vehicles. But like I try to make my daughter understand, some can't REALLY afford the new vehicles they're driving. She doesn't quite understand why I go to work everyday and drive a 14 year old truck, while the parents of her friends live in the projects and drive brand new Chargers, Mustangs and Yukons.

[TMF]

What I want to know is how these people are affording these vehicles.

 

They can't.  I've had my truck paid off since Obama first moved into the White House, and my wife's SUV was paid off a few years ago.  I thought that was the point, but talking to most folks, they bounce from one car loan/lease to the next.  Seems like so many folks want to drive a brand new car every few years.  It's just a waste of money.  Especially since I'm convinced that the majority of these people only want new, shiny cars, because they want others to be envious.  I figure this is the case, since every time these people get a new car they are big about showing it off to everyone, making sure to say, "check out my new car". 

 

Same goes for people who buy super expensive cars.  It's for image.  I had a buddy buy a brand new BMW a few years ago.  He got out of the Army to go to college.  I go to visit him and he's living in a shared apartment with three other students.  He shows me his car, and I'm like, "what the hell are you doing living here if you can afford a Beamer?"  He responds with, "The reason I live here is because I have to pay for this thing."  Just doesn't make any sense to me.  But to each their own.  Americans are to debt as heroin addicts are to heroin.

[E4 No More]

It amazes me why people are so concerned with what others do with their money as long as it's legal. :shrug:

[TMF]

It amazes me why people are so concerned with what others do with their money as long as it's legal. :shrug:

 

Like I said, to each their own.  However, people buying things they can't afford does have an affect on us all.

[Monkeybat]

I'd love to have a new truck, but I don't buy vehicles until mine can't be put back together again.  I could afford to drive a BMW, but I drive a 2004 Jeep Liberty with 160,000 miles, an oil leak, it overheats and needs a thermostat.  My wife has a 2002 Exterra with 110,000 miles on it.  Vehicles are terrible investments of money.  A total waste to ever buy one new. 

 

As far as trucks go, take it from an industry informed insider.  Ford trucks are better than Ram and Chevy right now in just about every aspect.

 

Pick up one a couple of years old and let the original buyer take the hit for depreciation.  If you are looking to buy right now, it is in fact the best time to get a brand new vehicle if you insist on a new one.

 

The good thing about trucks is that they are more durable than cars, they hold their resale value better than most vehicles on the road.

 

If you plan on financing a truck, it may be better to buy a brand new one if you can get 0% financing.  We bought our Exterra new because we had to finance it and the interest rate on new was so much better than used that the payments were better on the new vehicle. 

[E4 No More]

Like I said, to each their own.  However, people buying things they can't afford does have an affect on us all.

I wasn't writing directly to you with my comment, TMF, so don't think that I was calling you out. Several comments in this and in other threads are of the same mindset: I do it this way therefore others who do it differently are wrong.

 

People spend their money on things that make me shake my head on a daily basis, (spinners and huge wheels come immediately to mind), but I don't feel the need to make a negative comment aimed generally towards them on a forum for doing so. If people like driving paid-for vehicles, or only buying used vehicles, or only buying new vehicles, then good for them, but it doesn't make others wrong for not doing the same. You state that people who buy new want to make others envious. That may be true in some people's cases, but I've owned several new cars over the past few years including a 2008 GT500 and a 2013 BOSS 302, and I can say that I never bought one thinking "That'll make ____ envious!"

 

I buy new because I drove too many POS for too long when I was poor. I buy new because you never know what the previous owner did to the vehicle. I buy new because I like warranties so that I don't have to try and fix the car with my big-assed hands that aren't built to fix cars, or get raped by a mechanic to fix something simple. Ultimately, I buy new because I want to, and I can afford to: however, I don't look down on people who do things differently...unless it's criminal.

[JReedEsq]

I went through this recently because my 2006 Pathfinder was getting a loud whine from a timing chain issue.  I bought it in cash when it had about 30k miles on it and have driven it for about 6 years.  I looked at several trucks and SUVs and went round and round in my head about Silverado/Sierra vs Tacoma vs Tundra vs 4Runner until a got nervous about letting go of that much cash and just got my stupid Pathfinder fixed.  My favorite thing about my Pathfinder is that when we drag my kids into the woods to hike/bike ride/camp etc.. I don't stress about all the goldfish crumbs or the scratches from my kids climbing on my roof rack or running a bike into the car.  I guarantee if I bought a new F150 Platnium I wouldn't be quite as calm and laid back about my car.  

 

Erik88-  When someone comes into my office to discuss a divorce, one of the first things we talk about (after kids) is assets and liabilities.  I have found there are quite a few people driving $60,000 vehicles with nearly no equity in them and plenty of high net-worth folks who like to buy cars in cash for $10,000 or less.  That is not to say that everyone driving a nice vehicle is irresponsible.  There are plenty of folks in East Tennessee with great incomes.

Edited December 15, 2015 by JReedEsq

[peejman]

They can't.  I've had my truck paid off since Obama first moved into the White House, and my wife's SUV was paid off a few years ago.  I thought that was the point, but talking to most folks, they bounce from one car loan/lease to the next.  Seems like so many folks want to drive a brand new car every few years.  It's just a waste of money.  Especially since I'm convinced that the majority of these people only want new, shiny cars, because they want others to be envious.  I figure this is the case, since every time these people get a new car they are big about showing it off to everyone, making sure to say, "check out my new car". 

 

Same goes for people who buy super expensive cars.  It's for image.  I had a buddy buy a brand new BMW a few years ago.  He got out of the Army to go to college.  I go to visit him and he's living in a shared apartment with three other students.  He shows me his car, and I'm like, "what the hell are you doing living here if you can afford a Beamer Bimmer ?"  He responds with, "The reason I live here is because I have to pay for this thing."  Just doesn't make any sense to me.  But to each their own.  Americans are to debt as heroin addicts are to heroin.

 

 

BMW cars are bimmers, BMW motorcycles are beemers.  ;)

 

 

I agree that many people are addicted to car payments.  They wouldn't know what to do with themselves if they didn't have to pay that note every month.  They have no concept of personal debt.  A paid-for car must be worn out, right?   As for big/expensive trucks, most of the time it's as simple as "mine's bigger than yours", or at least that's what I want you to think...    

 

But hey, if I had the cash to drop $75k on a vehicle, I'd probably do it.  Enjoy what you've got.  Some have more than others, such is life in a capitalist society.  A guy I work with just paid cash for an $85k big block Cobra.  Friggin' sweet car and he deserves it.  I'm just happy I got to ride in it.  My $1500 motorcycle is plenty fun too. 

Edited December 15, 2015 by peejman

[Mike.357]

trucks cost more, it is a fact.  But they also have way more sheet metal as well as everything on it is bigger than a car. Tires, wheels etc...

 

I believe you can buy a new truck (pick your brand) well equipped for 32 to 35K. While the payment will be high if you plan on keeping it for ten or fifteen years it is not bad money spent.  I never worried about buying new and being upside down from depreciation when I drive off the lot.  That depreciation will level out over time.   Now if you roll them over every two or three years buying new is not good.

 

I bought my current 14 F150 early this year, saved right about 12K on the sticker just by it being the last years model.  most likely it will be the last truck I ever own. I hope to ride it to the grave. And if I outlast it I will be old to the point that I won't need a truck, just someone to shove oatmeal down my throat in a home somewhere.

Edited December 15, 2015 by Mike.357

[bersaguy]

I got 188 on that z85 canyon now and don't see any issues with it at all.  bought it a few years ago for $6k or something.  Only reason I would upgrade to a new one is because of the 4 cyl diesel option now to get some more towing power.  Don't like full sized trucks and this 5 cylinder doesn't like to tow more than a couple thousand pounds... That said, I still have issues paying north of $30 for a truck, but if it' a diesel, it should outlast me.

Just thought I would run this past you Sam. If your Z85 has towing issues there is something you can do to help that and it won't break the bank. A good Transmission Man if you can find an honest one can install a towing package kit in your transmission that will assist the motor and enable your truck to accept up to about 4000 lb towing package. There are kits out there just for this. Does not effect fuel mileage either.....................just my :2cents:

[bersaguy]

I have only owned 1 brand new vehicle and I bought it in 1990. A 1990 GMC 1500 series Sierra. It had a 4.3 liter V-6 throttle body and got 28 MPG. It had all basic stuff including crank up and down windows. I paid $8,000.00 cash with trading in my 1985 Ford F150.  I was into bass fishing and traveled a lot to Bass tournaments all over the south east and towed a Bass Boat with this truck. I had a towing package added to the transmission when I first purchased it. I ended up putting 320+ thousand miles on it and kept it well maintained. When I decided to quit fishing traveling fishing trails and began fishing just local stuff I bought a 1997 Jeep Cherokee with a blown engine. A buddy of mine had totaled a 1998 Jeep with a 4.0 in it and he gave it to me if I would get it out of his fathers yard. I had my son move the 1998 motor into my 97 and still driving it today.

 

I put my GMC out in front yard with $2,000.00 price in window. I didn't want folks just stopping in asking the price. I put it in the yard at 9AM and the new owner drove it home at 11:30 AM. He came to my house and ask if we could test drive. He drove it, handed me 20 100.00 dollar bills and drove off with it. I saw him and the truck about 6 months later and he had completely restored the entire truck and it looked brand new. He said he had a total investment of $5,700.00 invested. He was thrilled with it................. :up: I will drive this jeep as long as I live. My son keeps it maintained so it is very dependable......... :up:

[KahrMan]

My favorite thing about my Pathfinder is that when we drag my kids into the woods to hike/bike ride/camp etc.. I don't stress about all the goldfish crumbs or the scratches from my kids climbing on my roof rack or running a bike into the car.  I guarantee if I bought a new F150 Platnium I wouldn't be quite as calm and laid back about my car.  

 

I agree.  Thats why I kept my Armada for 10 years and ran it into the ground.  When they kids were growing up they were hard on vehicles. Food, drinks, muddy sports equipment, friends, etc...  Now that one is out of college and and there other is in college it was time for daddy to get a new truck.  

 

I let them look at my new truck but already told them not to even bother asking about borrowing it... :rofl:

[TMF]

I wasn't writing directly to you with my comment, TMF, so don't think that I was calling you out. Several comments in this and in other threads are of the same mindset: I do it this way therefore others who do it differently are wrong.

 

People spend their money on things that make me shake my head on a daily basis, (spinners and huge wheels come immediately to mind), but I don't feel the need to make a negative comment aimed generally towards them on a forum for doing so. If people like driving paid-for vehicles, or only buying used vehicles, or only buying new vehicles, then good for them, but it doesn't make others wrong for not doing the same. You state that people who buy new want to make others envious. That may be true in some people's cases, but I've owned several new cars over the past few years including a 2008 GT500 and a 2013 BOSS 302, and I can say that I never bought one thinking "That'll make ____ envious!"

 

I buy new because I drove too many POS for too long when I was poor. I buy new because you never know what the previous owner did to the vehicle. I buy new because I like warranties so that I don't have to try and fix the car with my big-assed hands that aren't built to fix cars, or get raped by a mechanic to fix something simple. Ultimately, I buy new because I want to, and I can afford to: however, I don't look down on people who do things differently...unless it's criminal.

 

Both vehicles I own I purchased brand new as well.  It had less to do with having a new car smell, and more to do with the warranty.  While my truck has been out of warranty for quite a while, my wife's SUV still has 4 years left on it, which has been great.  She has 70k on it so far with only a few minor issues which the dealership was able to take care of in a few hours. 

 

I base opinions on observation and experience, and, as I said earlier, envy isn't an all encompassing motive for everyone buying something new or nice.  But a good chunk of people I've observed like to spend money just so they can show people that they have money to spend (when they really don't).  It's some kind of disease which comes from all the commercialism and pressure from society to project a certain image.  People who won't shut up about the expensive toys they buy are like the people who won't shut up about their crossfit workout.  They need that validation through having people envy them.  It's sad.  I have a lot of buddies over the years go bankrupt over the need to always have something just a little nicer than the rest.  These are the people I'm talking about.  There's a lot of them out there.

[E4 No More]

Both vehicles I own I purchased brand new as well.  It had less to do with having a new car smell, and more to do with the warranty.  While my truck has been out of warranty for quite a while, my wife's SUV still has 4 years left on it, which has been great.  She has 70k on it so far with only a few minor issues which the dealership was able to take care of in a few hours. 

 

I base opinions on observation and experience, and, as I said earlier, envy isn't an all encompassing motive for everyone buying something new or nice.  But a good chunk of people I've observed like to spend money just so they can show people that they have money to spend (when they really don't).  It's some kind of disease which comes from all the commercialism and pressure from society to project a certain image.  People who won't shut up about the expensive toys they buy are like the people who won't shut up about their crossfit workout.  They need that validation through having people envy them.  It's sad.  I have a lot of buddies over the years go bankrupt over the need to always have something just a little nicer than the rest.  These are the people I'm talking about.  There's a lot of them out there.

Fair enough. :)

[Monkeybat]

BMW cars are bimmers, BMW motorcycles are beemers.  ;)

 

 

I agree that many people are addicted to car payments.  They wouldn't know what to do with themselves if they didn't have to pay that note every month.  They have no concept of personal debt.  A paid-for car must be worn out, right?   As for big/expensive trucks, most of the time it's as simple as "mine's bigger than yours", or at least that's what I want you to think...    

 

But hey, if I had the cash to drop $75k on a vehicle, I'd probably do it.  Enjoy what you've got.  Some have more than others, such is life in a capitalist society.  A guy I work with just paid cash for an $85k big block Cobra.  Friggin' sweet car and he deserves it.  I'm just happy I got to ride in it.  My $1500 motorcycle is plenty fun too. 

Yeah a single guy at my work just bought a sweet super charged Porsche.  Two years old and still almost $100k.  I just don't want a payment.  I'm far past the point of keeping up with the Jones.  Most of the time the Jones are in stupid debt.  I owe on my house.  That's all.  

[tennesseetiger]

I actually think we are in an auto bubble at the moment...lenders have made it pretty easy to get cars therefore people are paying stupid prices for them and getting stuff they can't afford with huge interest rates. 

My 2015 Dodge Ram 4x4 "which is loaded from top to bottom" listed at like $51,000...didn't pay that obviously and I had a huge down payment with my 2010 I traded in, but the prices are certainly higher than what I remember from even 5 years ago when I bought that one.

I bought a 2006 Dodge Ram 1500 SLT 4x4 for $15,000 with 14,000 miles on it before my 2010 if that puts it in to perspective...it has gotten a little ridiculous imo.

[TripleDigitRide]

I have pretty well decided to keep my current truck, unless I stumble upon a smoking deal.

[Dane]

I don't think prices are much higher than they used to be. I bought a brand new 2006 Dodge 3500 single wheel megacab for $39k in 2006. Earlier this year I bought a 2015 Dodge 3500 crew cab duelly for $46k. That doesn't seem like huge inflation to me.

[frankmako]

prices of everything has gone up, not just vehicles.  yes they are high, new or used.  

[TripleDigitRide]

I don't think prices are much higher than they used to be. I bought a brand new 2006 Dodge 3500 single wheel megacab for $39k in 2006. Earlier this year I bought a 2015 Dodge 3500 crew cab duelly for $46k. That doesn't seem like huge inflation to me.

I bought my 2002 F150 XLT extended cab from a dealership five years ago for $8300 cash. It's a 2WD, 5.4 V8, with an automatic transmission. It had 90,000 miles.

If I'm looking at very similar trucks that are 5 years newer, the prices are significantly higher. Dare I say roughly double the price that I paid five years ago.

If anyone can find me a similar truck for the money, I'm a serious buyer. Edited December 16, 2015 by TripleDigitRide

[nightrunner]

I bought my 2002 F150 XLT from a dealership five years ago for $8300 cash. It's a 2WD, 5.4 V8, with an automatic transmission. It had 90,000 miles.

If I'm looking at very similar trucks that are 5 years newer, the prices are significantly higher. Dare I say roughly double the price that I paid five years ago.

If anyone can find me a similar truck for the money, I'm a serious buyer.

What size cab are you looking for/need?

[TripleDigitRide]

Extended cab

[Mike.357]

I have pretty well decided to keep my current truck, unless I stumble upon a smoking deal.

 

Define a smoking deal?  

 

When I finally decided to pull the plug on my old 99 it was about how much to bring it back to spec vs buying new/newer.  I miss that truck.  Kane,only vehicle I ever had with a name.  LOL  I should'a figured a way to make it like new under the hood and down the drive train.

[peejman]

I don't think prices are much higher than they used to be. I bought a brand new 2006 Dodge 3500 single wheel megacab for $39k in 2006. Earlier this year I bought a 2015 Dodge 3500 crew cab duelly for $46k. That doesn't seem like huge inflation to me.

 

 

A 20% increase in 9 years isn't a lot?  Has your take home pay increased 20% in that same time period?  Mine sure hasn't. 

[Monkeybat]

Neither has mine! Hell I'd be happy with a 1% increase in take home pay.


Sent from the Fortress of Solitude.