topic $48,528 - Average paid in US in May for new car! in Among Friends

$48,528 - Average paid in US in May for new car!

Goldengate8361 — Mon, 12 Jun 2023 23:12:29 GMT

Can you believe how expensive new cars are now? Over $48,500 was the average amount paid in May by Americans for a new car, according to Kelly Blue Book, which is a reputable source. Is anybody else as shocked as I am by this?

Re: $48,528 - Average paid in US in May for new car!

Mz iMac — Mon, 12 Jun 2023 23:14:53 GMT

If for electric cars, then no I am not surprised or shocked.

Re: $48,528 - Average paid in US in May for new car!

spumoni99 — Mon, 12 Jun 2023 23:25:38 GMT

Its crazy, its not just electric cars. We are both retired and don't drive much, in fact we decided to sell my 2008 that only has 75k miles on it since we never drive it, it just sits int he garage. I think about getting a new car sometimes but yes the cost is crazy and we only drive about once a week to go shopping.

Re: $48,528 - Average paid in US in May for new car!

Mindy D — Mon, 12 Jun 2023 23:27:08 GMT

Affording a new car will be beyond the reach of so many people. I'm not happy with the way the world is changing. The middle class will not be living a middle class lifestyle with the huge increase in the price of so many things.

Re: $48,528 - Average paid in US in May for new car!

haddon9 — Mon, 12 Jun 2023 23:49:17 GMT

That is amazing....and not in a good way. I feel old by saying that I can remember when the brand new house that my parents bought back in 1965 which was a two story 4 bedroom 2 1/2 bath with eat in kitchen, living room, dinning room, family room, laundry room & garage with central air cost 22k in NJ.....unbelievable how times have changed!

I myself don't have a need or desire for a luxury vehicle. I don't drive much and my 3 year old leased Honda HRV (a smaller version of the CRV) has just about 17k miles on it. It's comfortable and easy to maneuver for me. It has plenty of safety features too.

It's a mid range model and the lease is up in a few months. I'm thinking of just purchasing it since it will cost me around 16k to buy. I just can't see spending a lot on a car. I would rather spend money on a nice vacation and home renovations.

Re: $48,528 - Average paid in US in May for new car!

GenXmuse — Mon, 12 Jun 2023 23:56:28 GMT

It's astonishing to me. Even recent used models are in the thirties.

Re: $48,528 - Average paid in US in May for new car!

ScarletDove — Tue, 13 Jun 2023 00:21:32 GMT

Absolutely terrible and absolutely unreasonable! My current vehicle bought new, is a 2001 Honda Civic, 4-speed manuual transmission, just under 30K mileage. That vehicle cost 19K, more than my home which was purchased in 1967 for $18,200 and still live in this home!

Re: $48,528 - Average paid in US in May for new car!

On It — Tue, 13 Jun 2023 00:16:06 GMT

We need a simple car without all these bells and whistles that is manufactured for driving, not entertainment. Climbing into these computer equipped technology machines is not necessary. It drives the price of cars and any repairs through the roof.

Re: $48,528 - Average paid in US in May for new car!

patbz — Tue, 13 Jun 2023 00:22:38 GMT

After owning many new cars over the years, four years ago we bought a two year old Buick with 16,000 miles. We' ll never buy a new car again; probably go 2 years old again with no more than 20,000 miles. I just looked online and I saw several Lexus that fit that criteria for $28,000. But we won't need another car for 2-3 more years as we now have 92,000 miles on that Buick.

Re: $48,528 - Average paid in US in May for new car!

RetRN — Tue, 13 Jun 2023 00:26:13 GMT

All I need is a vehicle with A/C and a radio. But, they push all this top of the line stuff that is unneccesary, cost a fortune, and need expensive repairs.

The average person can no longer afford to purchase a new vehicle, and used ones aren't much cheaper.

Re: $48,528 - Average paid in US in May for new car!

elated — Tue, 13 Jun 2023 00:30:08 GMT

A relative of mine bought a 2023 GMC Denali Truck for $73,000. I almost collasped when I heard the price. It is a gas vehicle. The high interst rates are making the purchase of new or used cars impossible.

I was looking at Car Fax and their interest rate was 8.6 %. I agree that they are pricing the middle class out of puchasing. I did read the prices are starting to come down but not much. The car dealers now have more stock available. I find the whole situation pathetic.

Re: $48,528 - Average paid in US in May for new car!

queendiva — Tue, 13 Jun 2023 00:29:44 GMT

Yowza! I bought my luxury mid-size SUV 7 1/2 years ago. One year old, one owner, above average mileage: $30K. I still enjoy driving it, and I do a lot of driving. I will continue to drive it and keep it in good repair until the wheels fall off, as they say. I hate having car payments. As I am now living on a fixed income that does not keep up with such crazy prices, my next car will be a big step down from my current ride.

Used cars are no bargain, either.

Re: $48,528 - Average paid in US in May for new car!

GabbyAnn — Tue, 13 Jun 2023 00:37:00 GMT

We just received a new truck that we ordered in October 2021. We didn't think it would be build based on the communication of the Auto maker & dealer.

It's a small pickup with a hybrid engine and it's getting about 45mpg. We got a good deal for having to wait so long. Ended up being almost $31,000 and it has lots of options on it. It's a Ford Maverick. So far, so good. I hope it lasts as long as long and serves as well as the 17 year old Chevy has.

Re: $48,528 - Average paid in US in May for new car!

Carmie — Tue, 13 Jun 2023 01:13:10 GMT

I was in an accident right at the beginning of the pandemic where a guy ran a stop sign and totaled my vehicle. It was a 2003 Honda Odyssey with about 50k miles on it.

All of the dealers in my area ( PA) were closed. I had to call a dealer in VA to get a new car.... a 2020 Honda Odyssey. I wired them the money and they had a man drive the car to me, and another man followed to drive them both back to VA.

I was hesitant to get a car because I felt the prices would go down after the pandemic because they were sitting in the lot unsold. Boy, was I wrong. The prices went up. I always pay outright and don't finance, so the price is important to me.

My youngest son recently bought a new pick up truck. It was over 60K. That blew me away.

Right now vehicle prices are high and interest rates are high too. It is better to hang on to what you have as long as possible.

I don't see us getting a new or used vehicle in our lifetime again. We currently have four vehicles. They should last at least as long as we do.

Here in PA, There will be a $290 fee annually that must be paid if you own an electric car. This will makeup for the lost tax revenue by not paying tax on gas. It is said, if you cause wear and tear on the roads, you should pay for it.

Our government has asked us to conserve gas and use electric cars, then they complain because they are losing tax money. What a crock.

Re: $48,528 - Average paid in US in May for new car!

AuntG — Tue, 13 Jun 2023 01:33:47 GMT

We bought our SUV's new in 2015 and 2016 (very basic models). Just replaced tires and batteries. We aren't in the market for new vehicles so will keep doing suggested maintenance on them. As far as $48,000, that was the amount of my first mortgage!

Re: $48,528 - Average paid in US in May for new car!

Lucky Charm — Tue, 13 Jun 2023 01:52:15 GMT

I'll tell you, if you have an older car and your happy with it, chances are what you buy newer and for more money probably will disappoint you. Because it did me.

I thought I wanted a new car, but I really did like my older model still. We usually kept my older SUVs that my husband would bomb around in.

But this car that I just sold, well, I loved every headlight, every panel, every angle of it. She was just pretty as can be and flawless.

So not only do I have buyers remorse, I have seller's remorse. I wish I kept it.

Because what cost $24K more than my last SUV brand new is really junk, if you ask me.

It has too much junk on the dash, I believe there's like 3 different ways to control the stereo alone. So all the extra buttons make it hard to see the A/C, defrost, rear defrost, etc. The more important buttons.

The 3rd row seats are pathetic, flat and thin. Wasn't like that in my last vehicle. They were full, thick and comfortable.

And like many or most other vehicles nowadays, the back end of the car just seems like an afterthought. Like the design team spent the whole week designing the front end, the sides and when it came to the back of the vehicle---they bailed and worked a half day Friday....

Just today, I was talking to my husband while I was driving and I see an very unique looking car coming up behind me. The front was kinda cool looking. It got next to me and I liked it, the way it looked. Then it passed and I see the back and was like, well, they took off early that day!

It was a Rolls Royce cross over or small SUV.

For the first time we paid cash for a new car because interest rates for auto loans was creeping up and the cd rates hadn't started to climb so we figured it would be better to pay for it outright.

On Friday, the stem on my rim is busted at the base, so adding air would leak out in less than two miles. I had to have the spare put on. Less than 3K miles on the odometer and this happens. The rims were over $750 each. I'm hoping they will say they are covered under warranty. But....I wouldn't be surprised....

Re: $48,528 - Average paid in US in May for new car!

Hmmmmm24 — Tue, 13 Jun 2023 02:02:13 GMT

I always buy new cars, but I go for the low end. I'd never be able to afford a car payment on a $48K vehicle. When I bought my condo in 1989, it didn't even cost $48K.

I have a 2022 Hyundai Kona and it's the most I've ever spent on a vehicle EVER. I paid $25,500 for it about 18 months ago. It's not hybrid or electric, yet I can still get over 40 MPG city/highway combined.

Re: $48,528 - Average paid in US in May for new car!

haddon9 — Tue, 13 Jun 2023 02:10:14 GMT

@Hmmmmm24 wrote:
I always buy new cars, but I go for the low end. I'd never be able to afford a car payment on a $48K vehicle. When I bought my condo in 1989, it didn't even cost $48K.

I have a 2022 Hyundai Kona and it's the most I've ever spent on a vehicle EVER. I paid $25,500 for it about 18 months ago. It's not hybrid or electric, yet I can still get over 40 MPG city/highway combined.

@Hmmmmm24 My son has a 2022 Kona and loves it! I have a Honda HRV and it's very similar in size and ride. I find both cars to be very comfortable.

Re: $48,528 - Average paid in US in May for new car!

granddi — Tue, 13 Jun 2023 02:20:52 GMT

This too

www.usatoday.com › story › moneyThe average age of a car in the US is 12.2 years, a new record

We have one car that is 15 years old. One car is 4 years.

Re: $48,528 - Average paid in US in May for new car!

Hmmmmm24 — Tue, 13 Jun 2023 02:25:22 GMT

@haddon9 I love my Kona also. It's my first SUV and it felt huge after all my small subcompact cars but now I think I could handle something larger like a Tucson.