The average cost of a new car these days is double what we paid for our first house.

Adjusted for inflation, that's $43k in today's dollars. What does a 2026 RAV4 Limited cost today? (If I don't buy a RAV4 it's because they discontinued the V6.)

Recently, though, I had to get a fuel pump replaced and they also replaced the brackets that hold the gas tank on. They told me there was some corrosion on the frame and 1 of the 3 brackets wasn't as secure as they'd like it, but that it was safe to drive. I figure maybe I'll get through one more winter. If I were younger, I would have already traded it, but I'm at that age when you don't like to buy unripe bananas. LOL.

what they can afford??

This isn’t rocket science. If you can’t pay cash for it, you can’t afford it.

But even used cars run $25K-$40K or more these days.

30%.
I mean 2 year old one.

One was given to us by my in-laws when our old van died, the other we inherited when my mom passed away a few years ago.
At this point, it's just price gouging.

I had to let go my 1998 Acura TL after 212,000 miles. My fault. I drove it like a sport utility model. Eventually damaged it (knocked a hole in the manifold, not worth repairing). It was a beautiful car, though. I'm thinking of buying another Acura now.

I am NOT buying another unless I absolutely HAVE to and then it will be used.

"The American dream of car ownership is turning into a nightmare for millions...Subprime auto loan delinquencies have just hit their highest level in 32 years...At the same time, the average monthly payment for a new car has soared to $774 per month."

"More borrowers than ever are 60 or more days behind on their car payments...For years, lenders have been stretching out loan terms to 72, 84, and even 96 months to make sky-high car prices seem more affordable. Some credit unions are even offering 10-year car loans, a practice that industry veteran Brian Binstock calls a 'death trap for customers.' "

"Lending standards have been getting looser and looser, perhaps aiding to recent strain. Some lenders have been approving loans for people with credit scores in the 500s and incomes as low as $5,000 a year."

"The $774 monthly payment mentioned earlier is just the payment. When you add in the average cost of full-coverage car insurance, which Bankrate puts at $225 a month, you're looking at $999 a month just to own and insure a new car."

https://finance.yahoo.com/economy/articles/auto-loan-delinquencies-surge-32-150112001.html

That's almost certain financial suicide unless the interest rate is next to zero (or zero) and the intent is to keep the car damn near forever (good luck). Only other time I can think that's not a terrible decision is maybe if we're talking a serious collector car that probably isn't going to depreciate. Again, good luck with that.

Only 4 I bought, the first was a hand me down from the grands at 17yo. Of those 4, I never bought a car that was less then 4 years old at the time. It's just not worth it to me to pay the kind of premium that a new car demands.

I've only owned 2 cars THIS CENTURY, in fact. Both made by Honda.

I forget the year, but it was the model right before they switched to the tiny circular headlights. It was a great car for me.

up off the ground. I can barely check the oil without help now it sits so damn low. I did some additional work on the engine and rebuilt the manual transmission and am just finishing all new front end parts. Its the bubble eyes one. I was checking prices on these things lately and flipped out. Already offered 5k the way it sets. And they are fast! I had mine up to 137 before I chickened out. Had another 10mph in it easy lol. Can't believe they allowed a small car with a 125hp engine that redlined at 8k rpm and had a top speed of 150mph while your butts 8 inches off the ground lol. I'll never sell it unless I have to. Younger (and older now) "tuner" kids love them and its usually a youngster driving them like a bat out of hell. I always get a double look when I get gas and an old 6'2 white haired guy that looks like a cross between a hippie and a Trumpster pry's himself out. Dawg it gets harder and harder to get out of that thing every year lol. Might drive it to Jersey to get gas next lol (jking Those late 80's ones are even harder to find. Pretty penny for a junk one. But I'm sure many of us who are older think about the cars we've had in our past and imagine if we still had them. Could've probably retired 10 years ago with the 2 I had before I turned 21 lol.

Sorry, I digress

I was living over there back then. Silly stuff one remembers.

Bought from a private seller, that was considered a "good" price for that vehicle at the time. It still had 4 years left on the warranty (never needed it). It lasted me 19 years and 325k miles before the tranny gave way. About 6 months after buying it I found the Dealer sticker underneath the back seat. 2022 from a local Ford dealer in SC for 24,999.

Anything newer than a 2010 -2012, unless you're good with cars its hard to do that anymore, especially if they're out of warranty. They're damn near impossible to work on yourself and even if you're good enough to do something like replace a transmission or something major yourself, you still have to take it to a dealer or a shop that has the expensive programming tools to reprogram the damn things just because the serial numbers don't match. That can be from 250 or so to 1500 bucks. I get recursive income but with todays autos its getting crazy. You can't even replace a windshield anymore without special programming (sorry I'm old and don't like it lol).

I have 4 vehicles and the newest ones are 2 2011's. One of them is pretty but all of them run as good as they did off of the showroom floor because I've worked on my own cars since I was 13. Stuff you have to learn when your poor

It really has been my fave car ever. Until 2023 when an idiot blazing out of the truck stop t-boned me. (He was probably on his phone.) Car was totaled and by then, the difference between new car $ and and good used car $ wasn’t enough to warrant the time and effort to find a good used one, as availability of good used cars wasn’t great. Bit the bullet and bought new though it hurt; I had enough cash on hand that I didn’t finance very much, but I still had sticker shock when I was pricing my options. All the assistive features in the new car are nice, but I’d still rather have the Volvo.

to go to the moon at least before they die for the most part anymore

and don't do frequent long road trips, you can cut your costs by at least 50% with an EV.

New EVs are as expensive as new gas cars (although considerably cheaper if you keep them for 5 years or more.) But the real deal is that there are loads of great used EVs that are great deals from the first day.

Crazy as hell.

Honda CR-V, and it was loaded with just about everything including leather seats for $36K. It’s very nice, roomy, and feels luxurious. I can’t imagine getting much more car for $50K. When I was still shopping, the comparable models made by VW, Toyota, Subaru, most all started around $30K in base trims and prices went up to around $43K with all the features including hybrid models. They were all very nice cars. $50k would definitely be out of my range but I felt like there were more than enough amenities available in the price ranges I was looking at that would be comparable to more expensive luxury brands.

n/t

Been there, done that, won't do it again.

I was stupid on the deal. Paid it off early as the interest rate was stupid. Never again.

More than a "bit", if they've got any remaining attachment to reality.

We can structure a lease any way you want it. The key is not to wear out the car faster than you're paying for it. If you drive a car 50,000 miles a year, you're not leasing it. You're buying it.

I’ll run my $32k 2013 Jeep until it thoroughly spent. It would be cheaper to replace the engine & transmission than to replace the vehicle for $60-70k. Plus, it doesn’t turn off the engine at stoplights, nor does it require a can opener to work on. It has 70k, so I have some runway left.

Been a car guy since age zero, but I literally am no longer a car buyer, at age 55. I’ll figure out another way to move, or live smaller. Done. Gen X has moved on.

No it won’t have leather or power seats. It will have all the safety features of a loaded version and will last 20 years. You don’t have to spend 50k on a new car. Base models last just as long and are just as safe. All new vehicles these days come with a/c and power windows and automatic braking.

They should use the median sales price instead

I dread buying a new truck. My current 2009 Tacoma should last me another 5 years at least. I do my own repairs and maintenance.

It is basic, it is my work truck 5 speed manual roll down windows no power locks single cab 4wd.

Finding a manual transmission is pretty much non existent on trucks now. And I hate driving automatic.

for 30k. No american sedan options. Interestingly 2 american options have been announced for coming years. Hope they come to pass. I like my elantra but would like to buy american

Like the couple of Lucid Grand Touring sedans I seem to keep pulling up next to on the way to the grocery store. $115,000? It's a nice looking car, but yeesh!