New Car Prices are Coming Down

I strictly follow the guidelines for service to my vehicles so that I can drive them as far as possible. I am not a fan of the Hyundai vehicle but it is what she wanted, so that is what she got.

 

I still cannot wrap my head around wanting to buy a new car. I still prefer to get a high quality vehicle that is three to four years old that has a track record of holding up well based on what the mechanics I know say about the model years. Typically look for one with about 40k miles on it and then keep it until its blue book value is below what the repairs to keep it going will cost me. Typically I get to around 180k miles when that happens.

 

Any manufacturers that you would recommend shorting in particular?

 

I follow it more from a consumer health perspective in this case, so I can’t speak to stock price. I know some have already taken large hits. But if you want to see who is in the worst trouble right now, here is the inventory list overall, by make and by model. No shock that the foreign companies who don’t rely as much on trucks and SUVs are in better shape overall.

New Car Inventory in 2024: Winners and Losers in November

 

Unless you're paying cash, most people won't be in any better shape buying used right now though. 12% interest rates and prices well into the tens of thousands for vehicles with 50k plus miles on them. Insane what used vehicles and especially used trucks are fetching.

I'm not sure my goto strategy will work anymore either. I find garage kept used vehicles from families/elderly couples or affluent areas and pay cash. I get grief from coworkers and family but every dollar I saved over the years in car payments goes to retirement investments.

I have a 14 year old Mazda that has been rock solid. Problem is they designed it with an internal timing chain driven water pump which when fails can blow up your engine if you don't find out you have a leak until it's too late. I may still put a few thousand into replacing the chain and pump rather than get roped into a car payment.

 

My wife’s 2013 Hyundai Sonata engine failed a few years ago. We didn’t follow every service recommendation and didn’t keep oil change records. Hyundai replaced the engine for free. From the things I read, there were plenty of reasons they could have rejected it. When they found the metal shavings after my service engine light came on, they told me to keep driving it until the service engine light started blinking. Then to bring it in for a new engine. No problems with the car since then and has about 160,000 miles on it.

 

You mistake me for a trumper. They think I'm a 'rino' if not a socialist.

Even if you hate Trump, you have to admit Biden is a terrible President and Kamala was a terrible candidate, right?

 

I assume you're suggesting the Biden economy is actually good. Why do you think Americans didn't buy that?

Most of the analysts are blaming Kamala's loss on not being able to separate herself from the Biden economy.

 

Glad to hear you had a positive outcome. Sadly, many have not. I never understand peoples' reluctance to change their oil regularly. I spend some time on BobIsTheOilGuy to keep up oil and filtration topics. I always cut every service interval in half. Now that I no longer have access to a lift to do it myself (my friend with a shop died..RIP, George, I miss you), a shop down the street charges me $15 labor when I bring in my own oil and filter. I use Pennzoil Ultra Platinum. $29/jug at Walmart and Pennzoil regularly offers a $25 gift card rebate when you buy two. Even after tipping the tech $5, it's less than $50 to protect my most valuable non real estate assets. Crazy not to.

 

Yes, I am.

LOL. Have you ever watched the YouTube videos of interviews outside of Trump rallies?

 

I honestly don't think Biden did that bad a job at all, especially so given the headwinds he was facing. Only thing I'd change is the green requirements to the IRA and BBB. Infrastructure expansion? Check. Reshoring? Check. Chips Act? Check. Unfortunately we live in the dumbest country in the world, so most of that goes whirling above the heads of 98% of voters. Also, I'd have straight-up told the Marjorie Traitor Chomsky's of the world to . . . . off with respect to Ukraine and thrown everything we had at it from the beginning. Even if it means un-Constitutional stuff. Fine, take it to court, by the time there's a ruling the stuff will already be there.

But, yes, Harris was awful. Only upside to this election is that she won't be POTUS. Unfortunately, The Retard and his Retard friends will.

 

Your welcome!

The Tax Payer

 

Biden has been a joke and completely awful. From foreign policy to covid. He has caused immense damage. I think the Bee summed it up well with their satire…

Biden Finally Claims Title Of Worst Living President

The big difference is Carter was a Good Man!

 

Biden was so bad TO THE DEMOCRATS, they replaced him with Kamala Harris!

 

Just got my Daughter a 2025 Honda Civic. Got $2,400 off the MSRP. Used car market is still too high.

 

Agree 100%. Just got rid of my daughters Hyundai. Engine issues at 115k miles after taking care of it religiously.

 

You may have missed the boat but Stellantis has major short term and long term issues. Turns out they realized that no one wants to pay luxury prices for their vehicles

 

You don’t think covid had a little to do with it?

COVFEFE