The price of new trucks is beyond comprehension!

[BobsYourUncle]

It was 42 years ago today, seems so long ago, yet still a strong memory in my head, a milestone I reached in my humble beginnings into the home renovation industry building solariums and such.

Yes, it was on this day, October ten, nineteen seventy eight when I had been only 4 years into my lifetime career when I worked my way to being able to purchase my first brand new truck!

Yup, 10-10-78 I drove off the lot of Phillips Chev - Olds in Penticton BC driving my nice shiny new 78 Chev 3/4 Ton Camper Special.

As I pulled out of the lot and turned left on to Westminster Ave and headed east towards home, I though I had lost my marbles, that I am a total idiot.

Who in their right mind would pay $7714. For a new truck. All taxes, fees, dealer prep and all the rest of the junk in came to $8,109.70 out the door...... Bob, you are out of your mind! I kept saying to myself. Financed it on the never never plan I did. How will I ever pay for it? I was barely 24 years old.

It was a great truck, I had it for 26 years and about 527,000K on the odometer when I retired it, still in decent shape.

Hmmmmm......

42 years later, my 2007 truck in sig is getting worn out. 408,800K on the clock and I am eyeing the shiny new trucks on the lot.

92 grand $$$$$$$ for something similar with a few more bells and whistles.

No, just no! That's what, about a dozen times the price I paid back then?
Gosh how can they justify that?

Wow! Just wow. Amazing how expensive pickups have become. All these fancy gizzmobops they have, someone has to pay for all that I guess..

Guess I'll just keep fixing what I have. It was $1423.77 yesterday for a water pump and a U-joint. Expensive!

Oh well, that's life! 🙂

My story of the day.

[kendall69]

Same here, 1974 I was 17 years old and I asked my parents to sign for a new Dodge Power Wagon with a complete snow removal plow, for about $4,500. Well, they did sign and there I sat in the garage with a shiny new truck worth about the same as a new Corvette at the time. My parents bless their souls for putting that much faith in me. They both worked two jobs and drove junkers, they never had a new vehicle in their life. As it god deeper and deeper into winter in Cleveland Ohio, I could not feel any worse because of the lack of snow. I promised my parents I could earn enough snow plowing to pay for the truck.

I had all my "contracts" set up and I did some clever maneuvering to get the accounts. I promised to replow their lots for free for 24 hours after the first plowing if it snowed again.

Well, then it hit, one of the largest snowstorms in history.

I started plowing and only stopped for three days to eat use the restroom. I slept with my head on the steering wheel in parking lots in between jobs.

I came home once set the alarm for 30 minutes and fell asleep with wet boots, and a parka, woke up, and did it some more.

When it was all over I went into the house and my parents were having breakfast.

I had balls of cash in every pocket I had and I dumped it all on the table and I said, here ya, this should cover the cost of the truck.

I never felt prouder of myself for keeping that promise.

Last year the pickup truck I purchased was nearly 20 times what that truck was in 74

[Timmo_]

An interesting graphic that captures price variations of various goods and services. Notice the prices for automobiles, household furnishings and apparel have remained "flat". While technology gadgets (TV, computers, telephones....have dropped. A 50% price increase in a 20 year period seems to be the norm.



Full article: https://howmuch.net/articles/price-changes-in-usa-in-past-20-years

I would love to see the same graphic for post COVID pricing.

[Devo_the_dog]

FishOnOne wrote:
Don't worry Sleepy J. is going to solve your price of your new trucks just like he has fixed everything else to date.

LOL. He'll shut the down the factories and make sure the union leaders are paid off.

BTW, he's probably the same guy who dreams up the JDEdwards awards for the best trucks.

[BobsYourUncle]

4x4ord wrote:

BobsYourUncle wrote:

4x4ord wrote:
I priced out a new motorcycle and set up the way I’d like it came to $46,000 ….. makes $85k for a loaded diesel Super Duty seem like a good deal.

Yikes! A lot of money for a motorcycle!
In 1985 I bought a new Honda V45 Magna. I don't remember exactly but seems to me I paid about 4500 - 4600 for it.
One tenth of your price, wow.

Depends how you look at it. If in '85 a Honda V45 was about 1/2 the price of a nicely equipped truck? And if now a fully loaded Indian Roadmaster is only a little over 1/2 the price of fully loaded diesel ..... the price of motorcycles is falling.

Guess it's all relevant isn't it?

[4x4ord]

BobsYourUncle wrote:

4x4ord wrote:
I priced out a new motorcycle and set up the way I’d like it came to $46,000 ….. makes $85k for a loaded diesel Super Duty seem like a good deal.

Yikes! A lot of money for a motorcycle!
In 1985 I bought a new Honda V45 Magna. I don't remember exactly but seems to me I paid about 4500 - 4600 for it.
One tenth of your price, wow.

Depends how you look at it. If in '85 a Honda V45 was about 1/2 the price of a nicely equipped truck? And if now a fully loaded Indian Roadmaster is only a little over 1/2 the price of fully loaded diesel ..... the price of motorcycles is falling.

[Lantley]

Groover wrote:

goducks10 wrote:

Devo the dog wrote:

Grit dog wrote:

Vehicles with major electrical issues sometimes have a short and catch fire….;)

And that's why I'm never going to buy a Ram again, or recommend that anyone buy one. They are overpriced pieces of Bye-don dung.

https://www.jdpower.com/Cars/Ratings/Ram-Truck/2021

I think that almost every brand has had at least one horror story. I used to be a Mopar guy. What drove me away was the local dealer where I lived then. A dealer can make or break a company in their region but too many of them seem to be uncontrolled.

I agree every brand has a horror story in their past. I left Ford over the 6.0 debacle.
As the price of trucks continuesto skyrocket it becomes harder to accept an overcome a poorly designed vehicle.
Yes the stakes are high to get it right the first time.
When manufacturers screw up and the dealers are unable to promptly make it right,animosity and anger build quickly.
Loyalty turns to hate and brands loose customers forever.

[BobsYourUncle]

4x4ord wrote:
I priced out a new motorcycle and set up the way I’d like it came to $46,000 ….. makes $85k for a loaded diesel Super Duty seem like a good deal.

Yikes! A lot of money for a motorcycle!
In 1985 I bought a new Honda V45 Magna. I don't remember exactly but seems to me I paid about 4500 - 4600 for it.
One tenth of your price, wow.

[FishOnOne]

Don't worry Sleepy J. is going to solve your price of your new trucks just like he has fixed everything else to date.

[Groover]

goducks10 wrote:

Devo the dog wrote:

Grit dog wrote:

Vehicles with major electrical issues sometimes have a short and catch fire….;)

And that's why I'm never going to buy a Ram again, or recommend that anyone buy one. They are overpriced pieces of Bye-don dung.

https://www.jdpower.com/Cars/Ratings/Ram-Truck/2021

I think that almost every brand has had at least one horror story. I used to be a Mopar guy. What drove me away was the local dealer where I lived then. A dealer can make or break a company in their region but too many of them seem to be uncontrolled.

[goducks10]

Devo the dog wrote:

Grit dog wrote:

Vehicles with major electrical issues sometimes have a short and catch fire….;)

And that's why I'm never going to buy a Ram again, or recommend that anyone buy one. They are overpriced pieces of Bye-don dung.

https://www.jdpower.com/Cars/Ratings/Ram-Truck/2021

[4x4ord]

I priced out a new motorcycle and set up the way I’d like it came to $46,000 ….. makes $85k for a loaded diesel Super Duty seem like a good deal.

[Grit_dog]

fx2tom wrote:

Grit dog wrote:

4x4ord wrote:
It would be interesting to know how many weeks income it takes of, say a school teacher, to equal the cost of a 4x4 crew cab pick up now vs in 2000. Regardless for many people the older they get the wealthier they get and the easier it is to purchase a vehicle. My first vehicle nearly emptied my piggy bank.

And part of the issue. Not everyone “should” be able to afford a new 4x4 crew cab pickup. But there sure are a lot of stout car loans out there….

We are going to buy a new Ford Ranger this weekend so we set up financing through our credit union. Credit Union offered the same rate from 37 months to 75 months (we are doing 36 months and hoping to pay off in 12 as it's our only debt). No wonder people can buy such pricey trucks when you finance them for over 6 years. I've seen dealers advertise 84 month low interest loans. That's why people keep buying them, you can get a mortgage on it!

Yup, the upper limits of loan amounts and terms are somewhere between irresponsible for the buyer and predatory for the lender.

Proj mgr that works for me, young guy who don't have $50k in cash laying around just yet but can afford a $50k truck no problem just bought a used Duramax.
2016 Loaded Dmax with 100k miles on it. He paid $50k (in this market, not so bad I suppose....??). Got 2.99% offer, took 1 minute to talk bank down to 2.5%. Bank would loan up to $60k on that truck for 96months!!!
He was stunned. He was putting about 50% down, so didn't matter to him, but the max offering on that truck is a guaranteed upside down loan situation waiting to happen.

[Grit_dog]

Groover wrote:

Grit dog wrote:

4x4ord wrote:
It would be interesting to know how many weeks income it takes of, say a school teacher, to equal the cost of a 4x4 crew cab pick up now vs in 2000. Regardless for many people the older they get the wealthier they get and the easier it is to purchase a vehicle. My first vehicle nearly emptied my piggy bank.

And part of the issue. Not everyone “should” be able to afford a new 4x4 crew cab pickup. But there sure are a lot of stout car loans out there….

I have met a lot of people that sincerely believe they own a very nice vehicle while in reality the bank that financed the vehicle owns the person driving the vehicle.

As for teacher pay, everyone I know that has voiced an opinion thinks that teachers should be paid more. Very few of those people are willing to pay more taxes to make that possible. While the people that determine teacher pay have an obligation to provide their students a good education they also have an obligation to the taxpayers to use tax money prudently. Plus, a lot of people, like my wife, really want to be a teacher and will work for whatever is offered. It is sad but it is common knowledge that you make more money going from high school to Home Depot than as a degreed and certified elementary school teacher in most of this country.

I don't disagree one bit as far as average (national) teachers salaries go, in general.
At the same time I have my own more specific opinions on that not pertinent to the discussion.

That does not change the notion of financial responsibility that if (making up numbers here) a person "should" make $100k a year to responsibly "afford" a new $50k vehicle every 5 years, that those who only make $50k a year teaching 3rd grade or working at Home Depot should expect to be able to afford a new $50k vehicle every 5 years without some concessions elsewhere.

But then, you also have to go apples to apples on the vehicle comparison or apply a factor to the additional power/features of a new rig vs the same or similar 20 years ago.

[Grit_dog]

Devo the dog wrote:

Grit dog wrote:

Vehicles with major electrical issues sometimes have a short and catch fire….;)

And that's why I'm never going to buy a Ram again, or recommend that anyone buy one. They are overpriced pieces of Bye-don dung.

You seem to be struggling with this emotionally, man....
It might help to talk it out though. You know, I hear that's a good technique for getting over the stress disorders.

Let's start with your continued association with a future, yet to be elected, maybe not even nominated as a candidate, US president, in 2018/19 with the problems with your truck, or more specifically the truck AND the dealer.

I can share too. Hi my name is _____ and I have had a lemon vehicle too. So I can sympathize with you.....
Oh wait, it was actually a Ford, 2008 F 150 to be specific...Nevermind, you wouldn't accept or understand.

[fx2tom]

Grit dog wrote:

4x4ord wrote:
It would be interesting to know how many weeks income it takes of, say a school teacher, to equal the cost of a 4x4 crew cab pick up now vs in 2000. Regardless for many people the older they get the wealthier they get and the easier it is to purchase a vehicle. My first vehicle nearly emptied my piggy bank.

And part of the issue. Not everyone “should” be able to afford a new 4x4 crew cab pickup. But there sure are a lot of stout car loans out there….

We are going to buy a new Ford Ranger this weekend so we set up financing through our credit union. Credit Union offered the same rate from 37 months to 75 months (we are doing 36 months and hoping to pay off in 12 as it's our only debt). No wonder people can buy such pricey trucks when you finance them for over 6 years. I've seen dealers advertise 84 month low interest loans. That's why people keep buying them, you can get a mortgage on it!