11.16.2021

I'm up - typing and gulping coffee quickly as I prepare to get ready and rush out the door soon.  I had time to quickly glance over a few news headlines - but steered clear of anything political, fake-pandemicky, etc.  I wanted to stay in a good mood!

But there it was... something to bring me down even with just a quick 2 second skim.

The price of a new vehicle is at an all time high.

Average price for a new vehicle is over $46,000 right now and climbing fast.

It's up 2% in the last two months (September 2021 to November 2021).

It's up almost 13% from just one year ago.


We are trying to keep my husbands car running in tip-top shape as he commutes an hour to work every day and back again.  It's had issues twice during his drive home in the last 4-5 months and we've sunk about $2500 into it.  It's been a great car, as his commutes over the past 11+ years have been anywhere between 35 minutes and 90 minutes one way every day.  It has about 200,000 miles on it now.

The plan was to get a new vehicle last year around January 2021.  But we weren't in a position money wise because the prices had already started to go up and the selection down; so we thought we'd wait until January 2022 to fit another payment into the household budget and by then the price might level off so we could afford it without throwing up.

But... we all know how that went.  And now they say vehicles will continue to be in short supply through at least the first half of 2022 and probably throughout the year; so don't expect prices to come down any.  They will keep climbing by 1% and 2% monthly.  

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"...The average price of a new car is now at a record high.

The average transaction price for new vehicles sold in the U.S. jumped for the seventh straight month in October, reaching a record $46,036 with buyers paying an average of $800 over sticker price.

The average selling price reflects an increase of 12.9% - or $5,266 – from one year ago in October 2020 and up 2%, or $910, from September 2021.

According to Kelley Blue Book, the average new vehicle is now selling well above the manufacturer’s suggested retail price at 2% above MSRP in October. In comparison, transaction prices were about $2,300 below MSRP in October 2019."

 

 

 Sigh...