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Inflation sucks bruh: JPow's Jihad


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average new car price has hit $47,000 in the US. That is half of what I paid for my first house only 10 years ago.

 

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The average cost of a new car is also at the highest on record, topping $47,000 a pop. At this rate, an essential household purchase is starting to feel like a luxury in America.

 

 

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I just put a deposit down on a new car for the first time in 10 years: 2022 Prius Prime (plug-in hybrid). $33k MSRP + tax ($40k) Canadian. Wanted an EV but those are on a 2-3 year back order right now. PHEV for me was just as good since the 40km fully electric range on the PP will cover 95% of my driving. 12-14mo waiting period, which sucks, but my car needs replacing and a decent used vehicle will require at least half the cost of the new PP. However I have a bunch saved in cash for this since I expected to be buying a used vehicle, so I am going to have a really short financing period and just pay it off quickly (what is left over after the cash).

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At this point, I’m driving my car as little as possible and hoping I won’t need to replace it soon. It’s a 2006 Elantra, but it only has 110k miles on it. A solid e-bike is looking like a good investment now. I really don’t need to go more than 5-10 miles on a normal day, and I can keep the car as a backup for inclement weather or the occasional longer distance trip. 

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2 hours ago, elbobo said:

average new car price has hit $47,000 in the US. That is half of what I paid for my first house only 10 years ago.

 

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The average cost of a new car is also at the highest on record, topping $47,000 a pop. At this rate, an essential household purchase is starting to feel like a luxury in America.

 

 

 

Where did you buy that house, if I may ask?

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56 minutes ago, Kal-El814 said:

 

Where did you buy that house, if I may ask?

 

upstate NY, it was very much a starter home. 1000sqft and needed updating but structural and mechanically fine

 

I paid 95,000 for it in 2011 and sold it for 115,000 in 2017 after putting about 15k into it. Looking at online estimates which who knows how accurate those are it is currently worth 165,000-180,000 which is crazy IMO.

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5 hours ago, CitizenVectron said:

I just put a deposit down on a new car for the first time in 10 years: 2022 Prius Prime (plug-in hybrid). $33k MSRP + tax ($40k) Canadian. Wanted an EV but those are on a 2-3 year back order right now. PHEV for me was just as good since the 40km fully electric range on the PP will cover 95% of my driving. 12-14mo waiting period, which sucks, but my car needs replacing and a decent used vehicle will require at least half the cost of the new PP. However I have a bunch saved in cash for this since I expected to be buying a used vehicle, so I am going to have a really short financing period and just pay it off quickly (what is left over after the cash).

I'll be curious to hear what you think of it once you actually get it... Whenever that ends up being. 😄 This is what I was looking at replacing my 2007 Prius with, as well. 

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It blows my mind that there are people who make enough money to just pre-order brand new cars. Meanwhile here I am trying to scrape together $350 a month for my used piece of shit. And now I have to feel my ego bruised because our shithole of a country decides that this shit should be our sole mode of transportation 

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1 minute ago, b_m_b_m_b_m said:

Dems would be heading for losses even if the economy looked like it did in 2019. 

 

"I'll vote in X party, they'll fix the problems!"

"Wait a second, the problems haven't been fixed in this single 2-year election cycle. I know, I'll vote in Y party, they'll fix the problems!"

 

And repeat

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2 hours ago, CitizenVectron said:

 

"I'll vote in X party, they'll fix the problems!"

"Wait a second, the problems haven't been fixed in this single 2-year election cycle. I know, I'll vote in Y party, they'll fix the problems!"

 

And repeat

 

Yeah it’s basically exactly how it works and it’s just sad to watch. Especially when you have something like this which everyone knew would happen (and is happening world wide) due to several reasons that have nothing to do with any policy put into place but it will just get blamed on policies people are told were put into place that weren’t so we can then never have any good policies put into place.

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1 hour ago, CitizenVectron said:

 

Yeah I put a deposit on a 2022/23 Prius Prime which won't be delivered until sometime in 2023...but I may reconsider if I need 8.99% financing.

I wanted to lock in the APR with my bank but it lasts only 30 days. The car I wanted to buy won’t arrive until the end of September.  This process has been so long and tedious that I am ready to give up. 

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  • 2 weeks later...
56 minutes ago, Jason said:

Just heard on NPR that another 75 basis points increase is expected on Wednesday. 

We’re in very interesting territory.  GDP shrank by 1.6% in Q1, but it’s expected to be announced that it grew by 0.4% in Q2.  And the job market is still growing at a prodigious rate.

 

So some signals of a recession are present, but others are missing.

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