How did new cars get so expensive in such a short amount of time?
The rise in cost for a brand new car doesn't match inflation. Its way higher. I have a 2011 ford f150. I bought it brand new for $32k with taxes. I priced out a nearly identical 2019 version (obviously trucks have changed in 8 years but I matched it as close as possible) and came out to $48k. A Honda civic can cost over $30k. What the hells going on?!
You buy the vehicle that you can afford. Period.
No idea. The most expensive car I ever bought was $8800. And that was 15 years after becoming a millionaire.
Inflation, my first new car cost 2,400 in 1969. Small, no radio or other features. Now a small car would have features like radio, Bluetooth, power windows and mirrors and backup cameras. My first new car was a hunk of scrap metal at 109K miles, now they last 300K. So better cars, inflation and also extended financing, they used to be 36 months then went to 48 then 60, now some are 72 or more so twice as long as before meaning people who buy on payment amount can afford twice the price.
Truck makers pay to advertise on TV ball games, (and TV pays sports teams for the right to broadcast the games) and pro ball players' salaries have gotten totally out of hand (millions of dollars a year in some cases). Where do you think that money comes from? You! When you buy a new truck. {Ticket sales at stadiums certainly do not cover the cost of salaries.} EDIT 1-21-2019 There's speculation that Patrick Mahomes (Chiefs quarterback) may be looking at a $200 MILLION contract.
A basic Honda civic cost £18,250 that is $23,511.38 for the very basic model, on top of that will be delivery, number plate to the dealer, plus anything else they add making it £19,100 ($24,606.43) according to Honda website and I see 'from' £35,305.00 ($45,483.25) on some civic models
Partly, it is due to the incredible rise of Hummer type vehicles in the 1990s. Suddenly, everyone had to be Mad Max.
The 2 biggest factors are adding electronic toys, and government regulations.
#3 is probably people thinking they need to buy a car off the dealer lot, instead of buying a 4 year old car.
Not true
In 1979 the cheapest Chevrolet automobile model with AC/AT/Cruise Control and Radio cost me $5600, today the cheapest 2019 Chevrolet model can be had for $15,200. Less then 200% in 40 years. On the other hand my home in 1979 was $19,000 and today that same house would sell for over $100,000. Over a 500% increase
Inflation, taxes, more stuff on the cars.
- Why would people buy older foreign cars instead of brand new American cars? I see it all the time, people driving 7-8 year old Mercedes or BMWs that they paid probably paid around $20,000. They could of easily gone out and bought a brand new Ford or Dodge, but they didn't. They bought a Mercedes with over 100k miles. All worn and torn on the inside. But aslong as they're shining on the outside I guess.
- Why are some Ford cars (like the Taurus and Focus) such unreliable cars? I'm looking at cars in the $3000 - $4500 range and I'm noticing a decent amount of Ford Taurus's and Focus's and out of all the cars that I see, these are two cars that just seem so unreliable. I test drove a Focus last year and it sounded like something was wrong with the engine.
- I'm looking to purchase a new Ford Explorer sport, why is the 2015 such a secret, what does it look like? When is the release date on this vehicle. I do not like the proto-type I'm seeing. Have there been any changes on this vehicle? Do I need to by a 2014
- How can some people afford such expensive cars? There's a family that live a couple houses down and they have a brand new ford explorer and chevy tahoe. I mean these things cost over $35k. Are they rich or just showing off?