Actual truck drivers are getting an F150 if they have money or a RAM if they don’t. Tech bros dipped their toe in for the cybertruck but those that were game are a small crowd and will probably get their fill before the end of the year.
Yeah this right here. The cyber truck is just a status symbol. Like a v6 platinum f-150 crew cab sitting in a suburban driveway with an absolutely spotless bed. But for the very small well paid tech bro market.
My next truck will be electric because thats where the market will be in 15yrs. Electric is a good change, but it still needs to do truck things. Like move heavy crap and access lakes via what is basically the suggestion of a road. The cyber truck does neither of these tasks well.
Is the Ford vs Ram vs Chevy really still a thing? Cost had nothing to do with getting a Ram for me. It was simply the only brand that still offered a bench seat on more than an entry level work truck.
“What is the remaining market value of your car?” is a massively important question for every car owner needing to have their finances in order. New cars depreciate faster than old ones, expensive cars depreciate faster than cheap cars. It is said that, when you buy a brand-new luxury sedan, just the simple act of driving it off of the lot will cost you easily 5000 dollars.
If you are not even allowed to sell your car, its market value at that point in time is effectively zero dollars. Keep that in mind when deciding what to buy.
“Never buy a new car” is probably the most basic and practical financial advice. Buy used, lease new, but never buy a new car. You lose thousands to tens of thousands in value just during the first year. Might as well burn your money for heating instead.
Meh modern cars mostly hold their value well. Especially since COVID. Yeah you can certainly save money, but it’s not the pit it once was. Especially if you can fund one of those rarer 2% rates going around. Leases these days are garbage and the real trap over the next few years IMO.
I got my new car just before they started to be scarce. I got a credit of 0.9% and about $3k off msrp (plus a bonus for my trade in which brought it to real market value). Used cars had a lot of mileage on them and the APR was above 6%. Certified used were almost the same price as new but with a worse APR
Maybe if you are are not financing it makes sense, but if you get a low APR buying new can be a better choise
I bought a 2018 minivan in 2020, and honestly if I went back it’s spend the extra $4k on a brand new. Drivetrain was fine but cosmetic stuff and the lining inside showed. I’d like to know what cars you buy to lose tens of thousands in the first year.
No. Leasing is a pretty bad deal. If you plan to own the car for 5 to 10 years, you might as well buy.
Buy used
Used cars for the last 3 years have very poor values. A brand new Toyota Corolla is in the $23k range, but a used one would be above $20k anyway. At that point, you might as well buy a new car.
Hopefully the used car market returns to normalcy (and it looks like its starting to go back to normal…) but new makes a lot of sense in the last 2 or 3 years.
I have to be that guy, you know there is always one. This is also the exception not the rule.
Bought my car new in 2019, 0% interest. Covid happened, Renesas chip factory burned, and the dealership offered me 10 grand more than the initial sticker price for it. I was WFH, and all we needed was one vehicle. Sold it rolled around in the check stub.
”The EV maker has already blacklisted a customer that tried to sell his Cybertruck without asking for permission. Furthermore, it also canceled the reservations that he had pending, and he will not be permitted to buy a Tesla ever again. ”
Aka, “Please don’t dump our product on the secondary market immediately after it turns out to be trash.”
I think they’re also trying to prevent speculators from buying these and immediately turning around to resell them for profit to wannabe influencers/morons like already happened with e.g. PS5’s, video cards, etc. It’s still a mighty big red flag, though.
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