New truck prices are insane

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tron67j

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Well, if someone needs a seat that has 24 way adjustment, then the prices are worth it. Personally, I have always been a base model person. Never been disappointed buying that way over all my Rams.
 

Sherman Bird

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One of my customers had this financial bridge to cross several months ago. He owns an immaculate 2006 GMC Sierra crew cab SLE with 200K on the odometer. The engine needed replacement. We discussed the "big picture" considerations:
1) How much is a replacement or new truck going to cost"
2) What else will go wrong that is considered big ticket?
3) Is this truck worth such a large expenditure?

I advised him as to the cost of the engine. I also informed him that the next "Achille's Heel" is the M30/ 4L65 automatic transmission. In addition, the original A/C compressor, which worked fine, had reached the very outer wear limit in terms of the airgap of the driven plate to the drive pulley, and, since the compressor had to be removed during engine R&R, it would save time and money to just go ahead and install a compressor kit.

He is an accountant with a major corporation, and so he mulled over whether to spend upwards of $70,000 on a new truck, or put about $14K into this repair, all inclusive of an engine with 4 year, unlimited mileage warranty, a Jasper transmission assembly with all the upgrade modifications to insure it's longevity with a 3 year/ 100K miles warranty, a new factory flywheel, new motor and trans mounts, new drive belts and tensioners, new factory heater hoses, new thermostat and water pump, spark plugs, and reman starter.

Considering the body of the truck and the interior are in like new condition, and there is zero rust anywhere, (He is originally from near Green Bay, Wi.) he chose to repair the truck.

It has turned out extremely well for him, and he doesn't face all the caveats of new vehicle depreciation, being saddled with a big payment AND inevitable costs of repairs.

I'm seeing this trend much more frequently in the past 4 years, especially with older folks from the generation who have bought houses much, much cheaper than what new vehicles cost today.
 

Sherman Bird

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In 1956, my parents bought their first home for $11,000. It was a 3 bedroom, 1.5 bath, single attached garage in a nice neighborhood. They owned a then new 1956 Ford 4 door Custom, which they paid under 2 grand for. I grew up in that home. Ditto for my siblings.

Dad told me years later that the mortgage payment was a whopping 78 dollars per month. He worried and wondered just how he was going to be able to afford that astronomical payment. After he was hired as a systems engineer a few years later at IBM, the issue was much easier. :) (They did pay off the mortgage early)

Mom live there until after the great Texas freeze of February, 2021. Dad had died in 2015, and the freeze broke numerous (galvanized) pipes, which devastated the house once they thawed.

After the insurance was settled, the home was completely restified and updated throughout. Mom decided to take advantage of insanely high prices and sold the place and is using the money toward her assisted living expenses (her choice).

At 89 yeas old as of this past November, she has no regret for selling the place and is having a good old time... in pretty reasonable health.

The selling price for that home was more than 20 times the original price.

The 70-90+ thousand dollar prices on new trucks today are easily more than 30 times more than back in the day.

I was reminiscing about the late '70's when I worked at a Cadillac dealer making $13.25 per hour. Adjusted for inflation, that comes out to 62.96 dollars per hour today.

I do make more than that now, but could NEVER earn close to nearly 63 dollars an hour working for another dealer or shop. This lack of keeping up with inflation is why so many of my acquaintances, family, and friends are struggling to get by. Happy new year, everybody!
 

GTyankee

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I know that commercial vehicle insurance for my 2016 Ram has jumped from $5,700 last year, to $7,900 this year.
I think the main reason for that, is only 2 companies will insure the type of insurance that i need, one company is Progressive.
If they would quit the TV Ads, i believe the price would drop.
There are only about 10 people that have the mandated commercial insurance that i have in the San Diego area. Other are doing the same work, but, they are running illegally, as far as insurance goes.

On the other hand, my motorcycle insurance hardly jumped at all
 

HEMIMANN

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My suspicious nature leads me to think they are trying to numb the fiscal senses of buyers for the eventuality of having to pay through the nose for an EV To please Uncle Sam.

EV's aren't moving at the ridiculous rate marketers and pols said they would. Who knew?! This is what happens when uninformed people make big decisions about things they know nothing about without consulting those who do.

Big respect for Toyota Chairman. An engineer who can think and listen.
 

turkeybird56

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I know that commercial vehicle insurance for my 2016 Ram has jumped from $5,700 last year, to $7,900 this year.
I think the main reason for that, is only 2 companies will insure the type of insurance that i need, one company is Progressive.
If they would quit the TV Ads, i believe the price would drop.
There are only about 10 people that have the mandated commercial insurance that i have in the San Diego area. Other are doing the same work, but, they are running illegally, as far as insurance goes.

On the other hand, my motorcycle insurance hardly jumped at all
My MC insurance jumped $108 last year for full coverage. My truck insurance is up 30% on full coverage. Home insurance in last 5 years up 50%. Seems I pay more out for insurance than all else, grrrrrrrrrrrr. Add truck, MC and home, a lot more than my property taxes, argh !!!!!!!!!!!!!!!!!!!!!!!!!!!

NO WAY I could afford brand new ride now. Same thing I have bought for 48K is 66K ish now. Guess just run the 2019 forever, and forget dat silly Hurricane thang. If I wanted a 6 cylinder with twin turbos, would buy a Ford. Just my personal opinion.
 
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HEMIMANN

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There's nothing wrong with the "Hurricane" engine - as long as it's not used in a hauling truck! :D

Seriously - this is the same damn thing as Ford Ecoboost in 2009! Look at the architecture - twin turbos with small displacement and cooling crap all over it to try to keep it from exploding when loaded.

Friggin' Europeans DO NOT drive pickup trucks with heavy loads over long distances! Yet these people are dictating products for North America. Hit a nerve. Same people that fired 2,000 of us for THEIR errors.

Meanwhile, what is Ford doing? Acknowledging their failures and making modern V8 and diesel engines! Yes, they did an EV truck for the urban grocery-getters, IN ADDITION TO real trucks.

Stellantis is failing. And quickly. Where is Lee Iacocca?
 

Tulecreeper

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EV's aren't moving at the ridiculous rate marketers and pols said they would. Who knew?! This is what happens when uninformed people make big decisions about things they know nothing about without consulting those who do.

Big respect for Toyota Chairman. An engineer who can think and listen.
And some of the Buick dealers.
 

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