Bob Lutz: What's Killing the Car Business?
Jan 25, 2019, 11:35 AM
#16
I have two paid off cars and will pay cash for an.old truck. I will never by new. Ever. I can buy a car or truck that's even 1yr old for a deep discount.
I bought one new truck back in the day. Depreciation killed me, so I decided to never do that again LOL.
I don't know anyone that buys new any more. Kind of a bummer. It was exciting, driving away in a vehicle with about 3mi on it.
I bought one new truck back in the day. Depreciation killed me, so I decided to never do that again LOL.
I don't know anyone that buys new any more. Kind of a bummer. It was exciting, driving away in a vehicle with about 3mi on it.
Jan 25, 2019, 11:45 AM
#17
Yep. For me, a car is an expense, never an investment, seeing how I use the craps out of them. I accept I'll get back pennies on the dollar, should I sell. I'm okay with that. Keeping mileage down, etc is ridiculous, IMO. Not enjoy my car to get an extra few $k IF I sell? Bleh.
Wealthy people with rare cars...i get that, but it's different.
I spend money on my car, not invest. That's the reason I can't bring myself to spend crazy money on overpriced cars (R32 GTR, etc).
Wealthy people with rare cars...i get that, but it's different.
I spend money on my car, not invest. That's the reason I can't bring myself to spend crazy money on overpriced cars (R32 GTR, etc).
Jan 25, 2019, 09:06 PM
#18
Evolved Member
Plus any interesting car that does come to the market, greedy dealers' markups take what was once an affordable car for enthusiasts according to MSRP, out of their price range. He really hit the nail on the head about people having to take out longer loans, such as 6 & 7 yr, to afford a car and end up trading it in before paying it off. Sad really. You're getting killed in interest financing a car that long. We're really fortunate to be able to afford the cars we drive as I see fewer and fewer able to do so.
