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Car Prices Might Be Unsustainable for Buyers
(www.wsj.com)
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this post was submitted on 22 Aug 2023
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Even smaller vehicles are getting ridiculous. The Honda Civic is a $30,000 car now.
Why do I only buy used cars?
I've been priced out of new cars.
Edit: I of course also drive cars basically until I can't fix them anymore (a high bar) though so it's not like I buy cars often lol
Used cars are also getting to be insane. Try finding a ~5 year old Camry or Corolla in good shape for for less than 25K (CAD)these days, even the supply of $500 rusted out Crown Vic’s is drying up. I’ve even seen 10+ year old cars going for between 15-20K in my area.
Anecdata: this is also screwing with insurance. My sister got hit in a minor accident, we were sure the car was going to be written off since it’s 7 years old and more than three body panels would be replaced. But, the car had increased in value by $3,000 since she bought it five years ago, so they got to repair and keep it.
Yeah my current car is a 14 year old Kia Rio Hatchback and when I checked how much I could sell it for the price has actually gone up since I bought it 7 years ago
This shit's crazy
My cars are as old or older than my kiddos. ‘08 VW Rabbit (aka Golf) and a ‘13 Traverse. I want a slightly larger vehicle with a bit more room for the younger one’s car seat, but I can’t afford a payment for anything recent. Would like to jump ahead to at least 2018 models.
Personally I'd love to get a vehicle with more ground clearance than my current car (slightly modified Kia Rio Hatchback with ~ 7 inches) to something with like 10 inches to 12 inches.
I do a lot of hiking and backpacking so things can get a bit sketchy at times trying to get to a trailhead.
But damn prices are high on new vehicles so I'll probably go with something 20 years old or older.
Wear and condition are more important than year in my book. Yes, age does cause some issues, but they are less common. I buy older low mileage cars that were well cared for. But they are hard to find. It sometimes takes months of watching.
Yeah honestly was looking at something like a 2018 GMC Terrain with higher mileage since I only drive about 3500 miles a year. If its got like 80k on the dial it wouldn’t bug me any. It’ll take yeeears before it hits 100k. But yeah I’d want something decent in condition.
We’ve had my wife’s car for a good 7 years (its ten years old now) and its still under 100k with it being the main family hauler. It’s the car that had priority to get fixed lol. Mines a little neglected since its mostly for around town or when i go in for work every so often.
City vs highway miles also make a huge difference
not only tht but the civic is the size of an accord from the 90s now.
What the fuck?
The base civic is 24 USD.
Damn... What a steal....
For $24 that car is stamped with 1:76
I'll take a hundred at that price, then sell them, fix my house up, and go on a nice vacation.