Posted on 01/12/2022 3:26:49 PM PST by rktman
The prices of cars and trucks continued to soar in December, data released Wednesday showed.
The Department of Labor’s Consumer Price Index showed that the prices of new cars and trucks jumped higher in December, rising one percent for the month. Compared with 12 months ago, prices are up 11.8 percent.
Cars saw larger prices increases. These accelerated 1.5 percent in December, which follows 1.4 percent in November and 1.1 percent in October. Compared with a year ago, the prices of new cars are up 12 percent.
Truck prices rose 0.7 percent, down from the one percent gain in November and 1.5 percent gain in October. Compared with a year ago, new truck prices are up 11.6 percent.
Prices for used cars and trucks jumped 3.5 percent in December alone, an incredibly large month-to-month jump for a big-ticket item. Prices were up 2.5 percent in both November and October. Compared with a year ago, prices are up 37.3 percent.
Motor vehicle parts and equipment rose 1.6 percent in December, producing an annual increase of 11.3 percent. Tire prices are up 12.4 percent for the year after rising1.9 percent for the month
(Excerpt) Read more at breitbart.com ...
And gasoline up over 100% - and climbing.
went and bought 2 new vehicles, 100% financed at 0%
ROFL
they are worth more now used than I paid for them :)
Way to go Brandon!
bookmark
The “official” inflation rate in December was listed as 7% for the 12 months.
But the food stamp allocation went up 27%
https://www.cnn.com/2021/10/01/politics/food-stamps-snap-increase/index.html
I know which number to believe more.
Well good thing I bought a new car when Trump was president
That is, if you can FIND a new vehicle. I contacted a dealer in St. Louis about one of only 29 new Toyotas it had “available.” Sorry — “available” means the car is not even on the lot yet, and this one had already been sold. This is a dealership that a couple of years ago had more than 200 new cars on its lot when I was there.
We had the dealer call and ask if we would trade our CX-3 in for what we paid for it. We are thinking about it.
I had only been expecting to buy one, but then my son unexpectedly totalled my other car and I needed two. So I went to the Ford Dealership and bought two of their vehicles. I told them I’ll buy two if you do it for an even $100K, zero down and zero interest. And they did it :)
Even the finance guy was like... I.. have never heard of this .. did you ever imagine getting $100,000 for 0% ?!?
I have a Mazda CX 30 2020 with only 8500 Miles on it, I lease it. I am sure they would love to get my SUV on the lot, Except they have nothing on the lot new.
We bought my wife’s 2018 Ford Ecosport SES in December for $14k after her 3-year lease ended (had optional buy price locked in when we signed lease) and sold it for $21,400 last week.
Also, had 20k miles on it.
It’s like when your house price soars...you feel good until you realize you can’t move because you have to live somewhere. Same with cars and trucks.
That is how you deal with inflation. Buy something of value with borrowed funds , the item continues to increase in value while you pay back the loan with highly devalued money.
...and you are driving what today?
My 11 2006 Ford E-350 van was totaled sitting in front of my house. I paid 11K for it in 2011. Insurance company paid me 13.5K. I picked up a 2002 Rav 4 for 700 bucks. I think I did all right. Getting a 2006 Nissan Eterra for $3500. 100K for 2 cars? Ok, if you want to.
My 11 year old 2006 Ford van.
They want us to trade the CX-3 for a CX-30 or CX-5 plus about $5000.
2018 Ford Escape. We went down to one vehicle because my wife works from home.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.