Car affordability in 2022 and beyond

At least, mine is a PHEV, it does not have a traditional transmission as in the ICE version of Escape. And even if it goes wonky at 100,000 mile, I don't have to worry about it, that is well past what I plan to keep this car.

The positive side is that I payed only $32k after incentives for this $43k MSRP SUV. $4k or 12.5% actual depreciation in the first year is much more tolerable.

 

5 years old or newer and 60k or less, on just the Honda Fit.

3 to 5 years old and around 50k miles is what I mainly look at. At that mileage and age the abuse, if any, hopefully wouldn't be enough to severely affect the longevity of the car. I don't want another lawn oranament like my Prius. Other than the infotainment system my current Avalon seems to running fine with over 148,000 miles on it and I got it with just over 50k miles and at 5-years-old.

I went a head and opened the search up on Autotrader to any vehicle and found that the cheapest car in a 300 mile raduis from where I live from 2019 (5 years) or newer and with 60k miles or less are some Nissan Versas going for $9,968 and $9,998.

For comparison I got my full sized Avalon Hybrid at 5 years old and 51k miles for just a bit over $15,000 back in 2018. But note that a new base 2013 Avalon Hybrid's MSRP was $35,555 (so I got mine for less than half) and the base MSRP for a base Nissan Versa right now is less than $17,000 (so some $10,000 is not less than half).

If I were to get a car right now I'd be tempted to get a new Nissan Versa over a used one since it's not a whole lot more (less than $7,000 more), I can choose a stick shift (those ~$10k Versas have CVT's), it comes with a warranty, I can, in theory, get at least another 50k miles out of a new car than a used car with that amount already put on it, and most importantly I can be sure it was treated with care from the beginning (including no salvage title).

 

I don't know how accurate the predictions are in this video, but I found it interesting.

 

I actually LIKE subbies but I also like motorcycles so I have no automotive Napoleonic complex to battle.
Subcompacts are going away because of rising labour and material costs and lower profit margins for eensy-weensy little cars more than the perception that you're riding in a tin can that will be squished beneath the tires of an adult-sized car.

 

What's a "subbie?"

Regardless of the reason affordable cars are dissapearing, I think the conclusion is that if affordable new cars dissapear then used cars will go up (or stay up) in price. For an example, the cheapest Gold certified used Toyota hybrid with less than 60k miles on it that I can find in the entire country is almost $20k, but I can get a brand new Nissan Versa for $17,000, making it an attractive alternative. But when the cheapest new car is over $20k then there are going to be more people interested in the used hybrids I was looking at, which will cause their prices to increase.

 

I think hybrids and phevs have already increased

 

But that, in no way, means they won't increase even more, especially on the used market.

Of course the opposite could be true. But fewer cheaper options usually will drive up prices.

 

Sub compact car......
(Warning! poloticized definition follows containing developing nation unit of measure!)
The "EPA" definition of a subcompact is a passenger car with a combined interior and cargo volume of 85–99 cubic feet (2,410–2,800 L).

 

I'll wait and see what the tariffs and meeting our DOT standards do to the price.
I'm generally against trade tariffs but the ChiComms may be the exception that makes the rule.

 

Tariffs are just a Federal sales tax we pay … silently.

Bob Wilson

 

I'm afraid that cheap EV will mean poor range.

The base model Seagull has a 30 kWh battery, and the top spec one isn't even quite 40 kWh. It's a hatchback, so should have a poorer drag coefficient than a sedan.

The Nissan Leaf with similar sized batteries does 107 mi and 149 mi respectively. Or should I say 75 mi and 104 mi if we account for an acceptable 70% capacity loss.

 

Ya, but the EV is set out to eventually become the new econo car. Meanwhile the last two sub-$20k cars are disappearing and used econo cars with around 50k miles and 3-5 years old are $10,000 and up still, and that's only with searching other states. One might as well as get a new Versa while he/she still can.

It's like if I tell someone where I live I get the "you need something with AWD/4WD and a body on frame and costs $50k" speal.

 

Get a Tesla for $20K!
2018 Model 3
Model 3 Long Range Rear-Wheel Drive
77,285 mile odometer
Colma, CA
$20,500
$234 /mo
Est. Transport Fee: $2,000

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And That Transport fee is to Kansas Colorado is closer to CA. Or fly out there and drive it back. Sales tax in California is 10 percent. You would have to talk to the DMV in Colorado to figure that out.

 

The country that’s tariffed can tariff back. Tariffs of course, as said, are paid by the importer and then customers, not the exporting country. It may be most recent previous leader didn’t understand what a tariff is, but it sounded tough.