The average interest rate for new cars is 7%. This has to have an impact on demand eventually.
I know the folks on this site are not normally borrowers, but the average joe in the US is.
They can roll back the odometer faster than you can check the oil on most vehicles.
You should be able to detect this with a CarFax report.
I just lost a friend (age 87) who I've known for over 50 years. When he was about 75, he bought a new truck - all the bells and whistles, etc. He said "This will be my last new truck, so I wanted it to be special."
Well, 3 years or so later. He traded it in. "This will be my last new truck..."
When he turned 82 I think it was, he traded THAT truck in for his "...last new truck..." He was "celebrating" because he had just gotten a new J*B and his cancer was in remission! Also his son-in-law had hired him to deliver auto parts for the store, so he was "flush."
Well that DID turn out to be his last new truck and he had to move into assisted living with his DW at age 86 - had to give up the "last new truck."
All in all, a life well lived and he had strategic BTDs along the way.
BY ALL MEANS - get your last new truck - er, car! Heh, heh, just don't plan on it being your forever "last." Things change and we all change. "Last trucks (or cars)" included.
ENJOY!
My current car is a 2011 Camry LE (bought used), some spots could use painting, no fancy features inside (other than ones I've added like USB ports and a dash cam), but it has been solid for 10 years now. I srill like its styling over the newer Camry models.
I am with you re my '05 Camry with a cracked windshield that I inherited and is still going strong. Wife is too embarrassed to ride in it. I keep threatening to buy a newer one and she threatens back with div if I do.
Finally decided to replace the windshields on our 2009 and 2010 cars. Both were cracked for at least the last 5 years. LOL, why did we wait so long? We used the budget company (Auto Glass Now) and they did a fine job for a great price. We waited so long we were in danger of replacing them right before they go to auto graveyard.
BTW, my crack would occasionally cause a really irritating and dangerous reflection on sunny days. The sun would light up the crack and reflect directly into my line of sight.
All's I can say, if you can afford fancy new or late model used cars (luxury and/or performance), get them and enjoy them while you can. Read into that what you like!
That's the main reason I'm waiting. Even with the inflation over the past ~year, the prices of the vehicle I'm interested in are just crazy high. If they don't drop to a more reasonable level in the next ~6 months, I'll probably still buy one, but I hate getting ripped off. Why? Well, I only get to go this way once!Unless it's critical to buy "another" car, I'd consider giving it 6 months or maybe even a year to watch prices (and maybe even interest rates) to readjust.
We have state inspections. Even if the crack extends end to end like ours did, but does not impact your line of site, you get a pass. I know you hear a mantra here and other places that "the windshield is structural." OK, but a crack doesn't necessarily materially impact that. Take out the windshield and then there's an impact. Mostly, that "45% of structural rigidity" is quoted ad nauseam by glass companies and spin the quote in a way to make you think a crack breaks everything and the windshield is now useless in an accident. Mechanical engineers may have a different opinion. Apparently my state does too.Apparently, no state inspection Our inspections would likely fail a cracked WS.
No, we are not desperate. I was desperate for a work vehicle which is why we bought the old used minivan. So now we have an extra car. This will allow us to keep going with the three old vehicles. If one goes down, we're still OK.I do have an indelicate question to ask. For those buying a "new" used car (or, even a new car) are you desperate to buy because you need the transportation? I ask because if pure transportation is not at issue, would it not make sense to wait until car prices shake out a bit?
I do have an indelicate question to ask. For those buying a "new" used car (or, even a new car) are you desperate to buy because you need the transportation? I ask because if pure transportation is not at issue, would it not make sense to wait until car prices shake out a bit?
The fly in the ointment on that idea is that DW's friends don't like or won't drive with her anymore. They say the car is too old (2009). One of those friends is very materialistic.
Exactly why I keep visiting this thread, looking for a sign that the winds might change.
The TRX model I'm looking for is in the 110+ range... Should be in the mid to upper 80's, IMO.