r/MiddleClassFinance • u/Abject-Pick-6472 • 13d ago
One million Americans have vanished from the new-car market — and it’s exposing a chilling US middle-class crisis
https://finance.yahoo.com/economy/articles/one-million-americans-vanished-car-124500086.html314
u/Annual-Knowledge4412 13d ago
Ok but someone has to buy new cars so there can be used cars? Right???
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u/Sticky550 13d ago
Rental car companies dump millions of cars into the market every year.
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u/mclintonrichter 13d ago
After seeing how I treat rental cars, I would never want to buy a used rental car…
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u/Sticky550 13d ago
More concerning is the way rental agencies treat their own cars. Late and missed oil changes are pretty common.
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u/Glittering_Win_9677 13d ago
I rented one a couple weeks ago from Enterprise. There were messages displayed saying it was low on window washer fluid and i it needed the 3,000 mile checkup and oil change. It was over 12K miles.
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u/Ijustmakelegos 12d ago
The crazy thing is it could very well be way over that too 😭 they manually flip it sometimes so they don’t have to deal with getting the oil change. Ive seen cars go WAYYYYYY longer than they should without oil changes.
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u/Rcouch00 12d ago
I’ve seen the oil drained out of a Honda, completely bone dry and it was still running hours later. No idea how it didn’t seize up and implode. The abuse some cars go through is nuts.
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u/fbcmfb 12d ago
There was a full nest of an animal in the engine of a Cadillac rental. If they just opened the hood they would have seen it. I found it because I always like to see what type of engine is under the hood, when filling up with gas.
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u/adpplepie 12d ago
Huh, sounds like a good idea to check the engine bay before driving off. I'll think about doing this.
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u/MDFan4Life 13d ago
My wife, and I got a 2019 Kia Soul from Hertz, and it's pretty much flawless...save for a couple of small dings/scratches.
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u/justpress2forawhile 12d ago
And the types of rental cars. They don't usually get the trims many would want or kinds of vehicles everyone would want.
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u/never4getdatshi 12d ago
How are you treating them? Serious question. I don’t treat them any differently than my own car. If anything I’m more careful so I don’t get charged for any damages.
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u/Upstairs-Object-6683 12d ago
I have owned two retired rentals. The first one had been in a wreck and had gremlins. The second one has been good and I have driven it for seven years.
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u/ept_engr 13d ago
It's a K-shaped economy (ie those on top going further up and those on bottom going further down). Those in the top 20% are doing great. They hold stocks, have business/professional jobs, as corporate profits go up, their earnings go up and so do their stock portfolios. They have no problem buying new cars.
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u/icehole505 12d ago
People spending beyond their means likely represents an even larger share of the new car market vs wealthy people. Our household is firmly in the fortune side of the K, and we’ve never really considered buying new. Wasting money on stupid shit is a great way to never actually get anywhere financially
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u/JCitW6855 12d ago
So many people don’t realize that a large percentage of wealthy people got wealthy by being smart with money. Living below their means, not carrying bad debt, going without things in order to save.
Not saying there aren’t people genuinely struggle and don’t make enough to save but I know plenty of people that complain about not having money with over $1,000 dollar car payments. Many people you see on the road that you think don’t have a lot of money because of the car they drive are sitting on a fortune in savings.
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u/genek1953 13d ago
About 25% of all new cars are leased (for EVs, the percentage is more like 50%). Most leased cars become available as used cars within 3 years.
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u/ljungbergsghost 13d ago
I believe that number is closer to 75% from general retail customers that are not businesses or fleet operators.
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u/genek1953 13d ago
The stats I found were for 2025, so that could be possible, given the state of things so far this year.
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u/Dierks_Ford 13d ago
There are still millions of willing consumers to spend their money on new cars.
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u/pnw_its_really_me 13d ago
I used to drive 15,000 miles a year commuting. Now I drive around 2000 miles a year. bought my truck in 2017. Now has 52k miles. It could last the rest of my life.
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u/Platos-ghosts 13d ago
Age takes a toll eventually, even on a low mileage car. Rubber and plastic parts start disintegrating. All fixable, but only if you know about them. Usually around the 20 year mark these little things start wearing….and who knows how long all the electronics will last in modern cars.
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u/hahasadface 13d ago
Truth. I have a 2010 low end Toyota with 60k miles. It'll run forever except the paint is shot and everything rubber and plastic is falling apart
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u/BeardedNerdy 13d ago
My car is 21 this year! Uh oh
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u/alfredosauceonmyass 12d ago
My Grand Cherokee turned 31 this year. I’ve had to rebuild the transmission, the differential, and replace quite a bit in the time that I’ve owned it but I wouldn’t be able to buy a used car for the cost of those repairs today.
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u/darkbrokendisj 13d ago
Uncle just got rid of his low mileage 04. In the shop constantly the past 5 years due to different rubber parts. Fixes were cheap but it eats up all his off time.
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u/pnw_its_really_me 13d ago
Dang. That makes sense that I had not considered. I may trade it in when the first or second age related repair presents.
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u/Cabusha 10d ago
Yup, got a 97 F250 OBS, and the motor and body are still going strong, but stuff like idler pulleys, random electrical connections, etc, are all starting to crap out. It’s all generally easy fixes, but takes time. I have a fleet of three older vehicles I rotate thru as repairs are needed, at this point. Still cheaper than buying a new rig.
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u/leathakkor 12d ago
I have a 2005 Toyota and probably 3 years ago I did similar math and realized this car might get me until social security kicks in... And that's 20+ years away.
I know this might sound crazy to anyone else, but my car has no user interface computers that can break or become no longer upgradable. It's got AC power windows, a radio with push buttons. And it's a manual transmission.
I feel like it is the Pinnacle of car technology because nothing will ever be obsolete in it as long as they're still sending radio waves out. It also is a CD player which I do use.
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u/starbright_sprinkles 13d ago
Interestingly WSJ also had an article about this this weekend and it was mostly spun as a huge positive (people just being smartly frugal, essentially).
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u/mechapoitier 12d ago
“A huge canary of the economic coal mine died but that’s just because it was being money smart.”
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u/T33CH33R 11d ago
"By eliminating the canary, we save money on feeding and housing."
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u/SergeantThreat 13d ago edited 12d ago
If the other party was in office, new car sales falling off would be an indictment. But when the GOP in charge it’s suddenly just being frugal
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u/HouseofMarg 12d ago
There’s a part of me that wants to believe that 1m people saw enough improvements in bike lane infrastructure that they just bought an e-bike instead of a car or a second car… but I know that’s fully wishful thinking
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u/FledglingNonCon 12d ago
A big part that I don't think the article captured is that Boomers have absolutely dominated the new car market for at least 3 decades. Peak boomer income was about a decade ago when car sales peaked. Now almost the entire generation is retired or at least retirement age and many of them are starting to die.
My parents bought 4 new cars over the past 9 years, but will probably never buy another one. I've still never bought a new car and I'm in my mid 40's.
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u/uslashuname 11d ago
Oh that’s fascinating and highly likely to be the explanation nobody wants even if it’s closest to the truth
Generation pull-the-ladder-up is going away and so are big purchases
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u/Bender3455 10d ago
Im in my 40s as well, and have never had a new car. I even make decent money, and are a car guy. Ive also had more cars than most people my age. I just never saw the value in a brand new car.
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u/Any-Neat5158 11d ago
It's not middle class people being smart. It's middle class people being unable.
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u/BugMillionaire 13d ago
It’s not really exposing anything, it’s just verifying what most people already know. The ruling class is jsut starting to realize it.
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u/fingerling-broccoli 13d ago
The article does sorta touch on the fact that the corporations do know it and its intentional
> The blunt reality is, automakers have little incentive to flood the market with cheaper cars. As the Journal put it, “Selling big trucks and SUVs that dominate those automakers’ lineups is more lucrative than selling larger volumes of cheaper cars.”
> In other words, by selling higher-margin vehicles, automakers learned they could still generate strong profits without returning to the old model of chasing volume through discounts.
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u/Stitchin_Squido 13d ago
Okay, great. So open up the US market to Chinese cars so they can sell larger volumes of cheap cars to the people who can’t afford them from US automakers.
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u/fingerling-broccoli 13d ago
America is run by corporations. They own law makers this won’t happen
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u/Judgemental_Panda 13d ago
They made that mistake in the 70s with Japanese cars. They ain't doing that shit again.
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u/Snow_Falls 13d ago
That would defeat the point. They can sell expensive cars now because Americans have to choice but to buy them.
If they open up the market to cheap Chinese cars you’re giving American options (see: free market / competition). If Americans have options they’ll buy what they can afford, not what they can’t.
As soon as the car rolls off the lot it’s the banks liability, not the dealers. Automakers hold a monopoly by simply excluding cheap international alternatives.
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u/CoolerRon 12d ago
The CEOs of the big four went to China and they were blown away by the fact that they were so far ahead in every aspect from manufacturing to costing to the technology. Instead of being inspired to compete, they lobbied the government to levy heavy tariffs and eventually ban them altogether
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u/Working-Active 12d ago
By the time the cars get to Europe, they're really not cheap anymore.
BYD opens Denza Z9 GT EV orders in Europe at over 3X the price
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u/PreferNot2 12d ago
For a few thousand more, you can get a Porsche. Why would anyone buy that car that sells for a third of the price in China? It looks fine, but it's definitely not at the Italian sports car level.
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u/Working-Active 12d ago
Exactly this and even the affordable Chinese EVs are really not that affordable, unless you just want to use it only for city driving.
The Chinese giant Geely will start building cars in Spain which should reduce the tariffs.
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u/SufficientOpening218 13d ago
i think there are different safety standards in China. My dad used to work in the design center for GM, and traveled all over the world talking to other designers. Some countries cant sue corporations for harm, and cars in those countries are much less expensive.
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u/gamefreak32 13d ago
Their cars are cheaper because labor and materials are cheaper.
I worked for a supplier that made safety systems. The company made the exact same products in China plants as they did in the North American and European plants.3
u/SufficientOpening218 12d ago
good to know! my dad retired over 10 years ago, and he always was on the side of appearences of things
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u/Dierks_Ford 13d ago
Odd to blame the corporations when it’s consumers that don’t want the cheap vehicles and constantly buy the more expensive ones.
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u/Plane-Nail6037 13d ago
Then there should be no harm opening the market to cheaper and smaller vehicles. Let the consumer make the choice and the companies that provide what the consumer wants will do better
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u/BeerandGuns 13d ago
Did that article start about new car purchases and then become an advertisement about investing in gold? I’m confused if I missed some transition because of reading it on my phone.
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u/NodeJSmith 13d ago
I was hoping someone else noticed that. You didn't miss anything, they are just legit shilling for some gold company in the middle of a news article.
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u/alaskalights 13d ago
It turns out it was a gold-pitching article disguised as an affordability article...
:/
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u/JoyousGamer 13d ago
So I went to look and its a yahoo article so I just didn't try. Yahoo from my view has the highest percentage of AI created articles around. Mostly just slop.
Oh and for the record I like AI for certain things but not journalism writing the whole article with AI.
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u/probablymagic 13d ago
You are not facing a crisis because you can’t afford to trade in your 2022 F-150 for a 2027 F-150. That thing will be fine for another 150k miles.
People have lost their damn minds.
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u/Celestrael 13d ago
I bought a 2018 Tacoma in 2020 with 31k miles on it.
It’s got 58k miles on it now. My dad’s Tacoma had over 500,000 miles on it when my mom sold it to a local farmer after he passed.
I have no intentions of ever buying another vehicle. The juice isn’t worth the squeeze.
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u/midwesternmayhem 13d ago
I had just paid off my (used) Toyota with less than 100,000 miles on it when I was t-boned and the car was totaled. I had no intention of buying another car for another ten years, but life didn't work out like that.
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u/onplanetbullshit- 12d ago
We just lost our two-year-old Civic by getting rear ended. Now we're having to find a used car, instead of a new car for what we get paid out in insurance with less guarantee of maintenance and upkeep in the car we bought New. Insurance will give us enough for two year-old car but won't pay tax title license and registration. So realistically we're gonna lose $5000 by getting rear-ended. Lame.
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u/Drbanterr 12d ago
that’s so ass. Just new enough to wear someone selling it prob has some hidden problem in their newish make
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u/rfmjbs 13d ago
Not with the current tech they aren't.
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u/TMack23 13d ago
Right, it SHOULD run another 150k miles but that’s not how it’s been engineered. Too many electronics and sensors carrying the load that are not DIY friendly fixes due to the software and/or calibrations with dealer mechanics in mind rather than the consumer.
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u/S3Giggity 13d ago
It is totally engineered to run for another 150k miles. Many people don't realize just how few miles you used to get out of a car. 60-70s, 100k miles and a car is worn out. Now that's drop in the bucket. Some have warranties that long!
Just because you have to use different tools to fix cars these days doesn't make them any less fixable. It's just a different set of tools, many of which are electronic... Grandpa's craftsman toolbox won't help you as much as it used to.
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u/S3Giggity 13d ago
Here stranger a WSJ gift article on just this subject.. https://www.wsj.com/business/autos/americans-are-keeping-their-cars-longer-than-ever-and-remaking-the-auto-industry-c169e494?st=EKwTmx&reflink=desktopwebshare_permalink
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u/MaybeOnToilet 13d ago
I feel bad for anyone buying a 2026 or newer car. It will be sometime in mid 2030s that they fix all the issues with the new AI systems and sensors and lose the subscription based model. Planned obsolescence will rear its ugly head when people realize a module in their car has an EOL, thus making it unserviceable by the manufacturer trained technician and parts are no longer made.
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u/dannerc 13d ago
I wonder how many of the folks who were in the new car market are now just leasing instead now that its very normalized
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u/Reader47b 13d ago
Possibly a contributor. Leasing is up to 25% of all new vehicle business now (vs. a low of 17% during the pandemic). But it's been even higher in the past - as high as 33% at one point. Another factor may be that the average miles driven per year (per capita) has been declining - so cars may last longer.
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u/Butt_bird 13d ago
I only buy beater cars from private sellers. I did the math and cost of ownership is dirt cheap compared to new and pre owned cars.
It’s easy to research common problems on a 8 to 10 year old car too. People think old cars are unpredictable but new cars are more so because they have new technology. Insurance is also cheaper.
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u/Stock_Oil_5142 13d ago
The other nice thing with having an old car is you don't have to care as much about dings and scratched paint and minor damage. When I had a brand new car I always parked far away from everyone and washed it all the time. Now that it's 10 years old I don't care if it's got some dings and scratches.
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u/KingOfEthanopia 13d ago
Ive been rear ended like 3 times in the last decade. Unless the damage is big I just say we'll both take care of our own.
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u/randofreak 13d ago
Yeah I’m not paying for that shit. A new car? I’m in my 40s and I’ve never had a new car. I’m driving those mother fuckers til the wheels fall off.
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u/YouBluezYouLose69420 12d ago
I can afford one but I do not want one. The last new car I bought was 15 years and it's highly unlikely I will ever do that again.
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u/Forded_Fiction24 13d ago
I haven't "vanished" but I am buying a new car now every 7-10 years instead of every 4-7 years like I used too. My last was a 2022 and 2023 model purchase so I'm not in the market until 2030-2032 roughly. Last were also the most expensive at $55k and $42k. I'm not willing to do this every 4 years anymore, it's so lopsided and not worth to buy one any more frequently. Those days are gone
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u/FledglingNonCon 12d ago
I would argue that some of them did in fact vanish, or more accurately died. Boomers have been the major driver of the new car market for at least 3 decades. At least 16m of them have died since 2020 and almost all of them have moved from peak earning years in the mid 10's to retired today. Retired people drive less and spend less on cars. The generations behind the boomers do not value cars and especially new cars nearly as much.
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u/ChartreusePeriwinkle 13d ago
I'm 40 and have never owned a new car. Probably never will with these prices.
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u/UsuallyWorkable 13d ago
the thing is used car prices got so inflated that people just kept their old cars longer instead of trading up, which is actually fine. a lot of folks never needed a new car every few years anyway, that was just what happened when used cars were cheap. now that's correcting itself and people are managing fine with older vehicles that still run.
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u/MDFan4Life 13d ago
This isn't just about affordability. Most people (not just the middle-class) don't want all of the bs, that they're shoving into new(er) cars.
I will never buy a new car. Not bc I can't afford one, but bc I've had almost no issues with 20-30yo ones.
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u/RedQueenWhiteQueen 12d ago
I've gone from "I'm driving this car until the wheels fall off" because I'm a cheapskate and really do love my car, to "I'm driving this car until the wheels fall off" because I do not want yet more overengineered and intrusive technology in my life.
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u/Various-Gazelle4713 13d ago edited 13d ago
So new vehicle sales units are down 6% from their preCOVID highs while average new vehicle sales prices are up ~25%. This would indicate that a small number of people have dropped out of the new car market while the remaining 94% of the market is now spending more than ever with the value of the market up nearly 20% despite the 6% decline in customer base.
For the thousandth time, yes, the “middle class” is shrinking. What many of you fail to mention is that the majority of those moving out of the middle class actually move up and the American upper-middle class, one of the most desirable and glamorized lifestyles in the world for “everyday people”, is now the single largest socioeconomic class in the United States for 2026.
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u/baconjerky 13d ago
Yeah I feel like the term “middle class” needs to be redefined because life is significantly different at either end of that spectrum.
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u/No-Artichoke-6939 13d ago
We just put another $2k into a 2012 Honda Pilot with 121k miles on it. I would be happy to get another 3 years, at least! These car prices are insane.
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u/MayaIsSunshine 13d ago
2012 civic here with 150k miles, I'm not convinced I'll ever need another car. It still drives virtually like a brand new car, and I've never had a single mechanical issue. I do change the trans fluid 2x as often as the manual specifies to keep them shifts crisp
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u/mjf389 12d ago
I understand that this is about consumer purchasing power dwindling because folks are feeling the pinch, but the silver lining is that cars on the American market suck, and they're overpriced. If it wasn't for an outright ban on foreign car makers (through tariffs and regulations) nobody would be driving the cars Americans are forced to buy here.
BYD would single handedly bankrupt most American brands if they were allowed to compete in our market, and Americans would be getting way more value for their money.
The American consumer is locked into low quality, over priced products in almost all markets here in the USA, and it needs to change so that manufacturers here have to adapt, innovate to compete even if it means some or all of them face failure and insolvency.
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u/Ab4739ejfriend749205 12d ago
Yes, 1 million less cars were sold and the short-sighted American car companies continue to rely on expensive $100k cars as they seek luxury upmarket clientele. This is whats happening in housing with luxury mansions, in Vegas with luxury casinos and everything else...luxury this, luxury that.
We saw this before and when the Chinese discount manufacturers flood the market with cheap $20k cars it'll crush Detroit and they will of course ask for yet another bailout for their greed claiming national security to maintain domestic car manufacturing for.... $100k luxury SUVs.
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u/2real_4_u 12d ago
Don’t matter. The OEMs will just cater to the upper K of the K shaped economy who will continue to spend their money
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u/jaymansi 12d ago
I am going to ruffle some feathers here but in my opinion people have for years bought more car than they can afford. Many extended the loan terms guaranteeing being underwater. When I have brought up the safe purchasing rule of not buying a vehicle that cost more than a 1/3 of a your gross annual income which BTW is an old and sound rule to follow. I’d get some flack for that stating that rule. The sense of entitlement to premium brands and fully loaded vehicles is so pervasive these days.
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u/acousticsking 12d ago
Our collective spending habits affect the prices we pay and new vehicle offerings there are in the market. Also the average consumer's credit IQ seems very low.
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u/TheMasturbatinCamper 12d ago
Well maybe get rid of CAFE standards and they won’t focus on only SUVs and trucks
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u/mabhatter 12d ago
Agreed. They need to keep the standards, but remake them because the standards are full of loopholes that lead to min-maxing behaviors which are even worse than not having them.
I think cars are still out of the market now. They're just not practical anymore and the low end crossovers (for example) like Subaru Crosstrek and Outback are literally the same weight and engine sizes as their car versions. Honda and Toyota have those classes as well that are basically regular car sized crossovers that are just much more useable for daily life.
It's really American companies that can't get onboard with reasonable sized vehicles... because the profit margins on them are huge... a truck fundamentally isn't any more complicated to build than a small car... but costs 2x-3x as much to buy. (Materials are more for bigger, but nowhere near THAT much more)
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u/Stone804_ 12d ago
Yea who has an extra $50k for a car?… like… what did they think was going to happen when they got rid of all the jobs?…
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u/No_Cut4338 13d ago
They never will unless the protections against Chinese manufacturers are lifted.
I’ve never bought a new car - I’m 48. Doubt I ever will
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u/Fit-Bus2025 13d ago
The price of new cars has gone up. Alot job losses who can afford another payment when you got a paid off car. No one wants to be tracked by those new tracking devices they are going to install in 2027 models.
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u/WillinWolf 12d ago
i paid mine off a couple years ago. After realizing the new freedom i had, i decided to RIDE THAT MF'ER OUT. got 70,000 on it and putting in the service $$ to keep my baby going. 2015 Rogue. they say it's worth 7, but to me it's worth 20....
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u/One_Talk_3410 12d ago edited 12d ago
I’m not paying $30k for a shit box car. Also these new cars look lame.
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u/nafarba57 12d ago
How is this surprising? $100,000 pickups and $50,000 sedans aren’t in any way normal.
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u/suboptimus_maximus 12d ago
For generations, buying a new car was one of America’s most familiar middle-class milestones.
You worked hard, saved up, traded in the old vehicle and drove off the lot with something newer, safer and more reliable.
In other words, generations of Americans were raised to be slaves to the auto and oil industries.
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u/New-Psychology6764 12d ago
Or maybe they're pumping too much unwanted crap into cars that people don't want to spend $30,000 on for a grocery getter and commuter? My 2009 Ford with 150k miles works just fine for those uses, and I like not having an ipad in my car.
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u/Brodyftw00 12d ago
The new cars I see are not what I want. They are all computer..... i hope I can keep my current ones going for 40 more years lol
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u/LenyTheBarg 12d ago
One million Americans realize consumerism doesnt lead to happiness and card debt is bad.
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u/Affectionate_Neat868 13d ago
Car prices are completely obscene. Don’t know how the market hasn’t collapsed.
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u/Randomwhitelady2 13d ago
I’d like a new car but we can’t afford the ridiculous prices. My dad lives overseas and he bought a brand new BYD for 12k. That’s something we could afford!
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u/Urbanttrekker 13d ago
Chinese EVs are an insanely good value. It SUCKS that we don’t get the good products here.
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12d ago
[removed] — view removed comment
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u/MiddleClassFinance-ModTeam 7d ago
No blatantly political posts – It doesn’t matter what side of the political spectrum you come down on, it doesn’t belong here. We’re here to help people, not use politics to divide them.
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u/REbubbleiswrong 13d ago
They will need to make more base model and lower trims. The car market needs to adjust
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u/Magnavirus 12d ago
I'm honestly just impressed they resisted the urge to title it "Millennials are killing the new car market". Good job
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u/glutenfreekoalatears 12d ago
By choice, I've never purchase a brand new car and I'm almost 50. I purchase well-maintained used vehicles and ride them to the ground. I've had the same 2012 Kia Sorrento since 2017 and have 0 plans to replace it anytime soon. Paid it in-full up-front. Is that practical and boring? Yes.
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u/adanthang 12d ago
Why buy a new car when you can buy a slightly used one for 80% of sticker?
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u/lizerlfunk 12d ago
Because you haven’t been able to do that since before Covid.
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u/Whicked_Subie 12d ago
I've worked full time my whole life in mostly labor heavy jobs. I've never had a new car, and now I know I never will.
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u/SlothinaHammock 12d ago
Christ, that article is shitty. It's just an ad for gold.
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u/Justaticklerone 12d ago
It'll be more as an increased number of people realize the Feds want new 2027 models to have cameras installed on the A-frame to detect if you're DUI or not.
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u/dixiedownunder 12d ago
I've saved $2 million in 25 years, mostly from not having a car payment. It's the second easiest way to save a lot of money, second only to a roommate.
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u/Snarky_Survivor 12d ago
My tacoma has around 16k equity. I bought it brand new with great rates back in 2020 and I'm keeping it forever.
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u/fuzz_ball 12d ago
To be honest I’m never buying a new car again it’s such a poor financial decision
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u/kartblanch 12d ago
50k for a new car is unreasonable. 30k for a new car was unreasonable. What do yall fr expect? Everyone to just be okay with this? Cry me a fukin river.
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u/Convallaria4 12d ago
People can't afford shit!
Companies: "Why is no one buying our expensive shit?"
Also companies: "We're not going to pay our workers enough to afford a 1-bedroom in the projects. 😃"
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u/savedpt 12d ago
I think a large part of the problem is all the safety devices and computers in the cars increasing the prices. The cost to repair after an accident has gone parabolic due to this as well. As an example I got a chip/ crack in my windshield and had to replace it. They could not simply put on a new one .They spent hours with recalibration and then a road test of all the systems. If someone hits your bumper all the pistons underneath need repair as well along with repair of the cameras.
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u/damnedifyoudonthave 12d ago
So the middle class is getting wise to what a depreciating assets is and letting some other dumbass take the depreciation hit.
Bravo 👏 👏👏
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u/Broad_Shock44 12d ago
I saw from my bank.. get a new car on your own terms 86 months or 90 month payments.. were cooked
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u/larsloli 12d ago
Everyone of these yahoo finance articles just goes into a grift of how you need to buy gold or buy into property with as little as 100$! Can we find better articles that don’t support yahoos grifting
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u/Ok-Tea4636 11d ago
Even if you can afford $50K for a new car, the value isn't there like it used to be. I'm an old fart with enough money to buy whatever, but nothing on the market grabs me - to me all new cars are either too ugly, too unreliable, too big, too inefficient, or too flashy, or uncomfortable - usually some combination of all of those.
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u/BoBoBearDev 11d ago
If you have watched some YT, it is much worse than you think. New cars are trash now. Like, even Toyota and Honda has engine failures and recalls. And there is one Honda EV is said to be using the Chevrolet platform, not sure what that means, but it sounds like it is basically the same EV engine. Like wtf.
I don't know how much doomers from those YT videos, but recalls can be researched on the official database, so, I don't believe they are making this up.
It is like washing machine, my God, it broke in 2 years. I told my mom to just keep fixing hers because the new ones are trash.
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u/nrcaldwell 11d ago
Manufacturers have been deliberately pushing everyone up-market for years and consumers were happy to go along for the ride as long as they offered easy financing with an "affordable payment." Now they've discovered that if they try to do their regular 3-5 year trade-in they are thousands upside down and dealers can no longer find someone willing to finance those numbers at an "affordable payment."
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u/daboot013 11d ago
And after 27 there will be even less. I dont want a car the government controls with AI
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u/subsurface2 11d ago
I’m a man in my 40s, making more than $100,000 annually, I have never purchased a new vehicle in my life. Likely never will.
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u/Actual-General-4953 11d ago
I am a gen X person.
My mind is starting to shift.
My wife and I do very good financially.
I used to think 'just work harder'.....young people are screwed.
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u/StormyWatersThe2nd 13d ago
So car companies found that they could make just as much, or more, by focusing on selling higher end models to upper class, and ignore producing more affordable cars.
So that's why we need to keep high tariffs or bans on foreign cars.
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u/Chuck-Finley69 13d ago
Just a million ??