Originally posted by jerp
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Will truck prices go down or is this the new normal?
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Update, we traded our 2020 Chevrolet custom 1500 for a 2022 Chevrolet custom 2500. I feel like I got a great deal, they gave us 32 for the 2020, we paid 31 for it two years ago, and the new truck was ordered (12 weeks out) so we got to pick and choose options to make it exactly how we like it, new truck will be 50k out the door so we will only come up around 18 short. Thanks for all
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They will come down when interest rates go up since car purchases are highly dependent on debt. The car makers will try to stretch the length of the notes longer than the already insane length you can finance for to help offset the rate increase to keep people buying but they can only stretch it so far.
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Originally posted by ColinR View PostPicked up my 2022 F350 today that I ordered back in June. It’s basically the same truck I had which was a 2012 F350. Both Lariat ultimate, FX4, CC LB. my 2012 MSRP was $64k. The new one was $74k. So in 10 years it went up $10k. This new one has sooo many more features, it’s actually incredible the technology they have in these trucks. If you calculate the percentage off MSRP I got back in 2012 and then look at what I got off MSPR (x plan) and the additional money I got selling the 2012 in this crazy market it came out the same. Also if you look at the percentage the price went up in 10 years vs the normal cost of living raise I assume most people get your better off now than before. Everyone has complained about the price of things forever. But they don’t stop to think how much more people make now. Sure back in 1970 you could buy a house way way cheaper than what a new pickup cost but you also made way way less at your job too. It’s all relative.
The CPI is at its highest level since the Great Recession and it’s biggest driver of price increases is vehicles. The percentage change of vehicles contributing to CPI faaaaar exceeds wage growth right now.
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