Second thought/ Crazy prices

[mbouck3]

Has anyone got about a month out and started having misgivings? I had been looking for a truck for about two years and the prices just went higher and higher. At first I was thinking a 30, thousand dollar used truck would be really sweet but now for that you wont get shinola. So started looking at powerboosts and just love the concept. I just retired am just over 60 retired lived frugally and we saved well. WE are secure and have a great broker that keeps us solvent but any thing 50 or above just puts a frog in my throat. That's what I paid for first house. I am sure I will go threw with it and love it but has anyone else have this hang wringing when this close

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[CM_in_TX]

Not knowing how you want to use your truck, but going through the same process myself the last 8 – 12 months, I can probably say:

• You are correct about POWERBOOST – I got it and am so happy with it. Not only is it exciting when I am on full Electric drive, but getting about 25 mpg when you fill up with gas – it may show something like “700 miles till empty”. That’s great for a full size truck.
• Another thing with POWERBOOST – you can get a “7.2 kW ProPower Onboard” which is a super duper generator you can use to power your house if hurricane knocks out electricity.
• Just takes the right cable and slight mods to your home electric panel
• Lastly, I wanted a truck with some real get up and go. POWERBOOST helps there: from a stop, the electric motors start you off, then twin Turbos kick in, then if you are in SPORT MODE, the computer controls that 10-speed transmission, and it’s like you’re are in a rocket !!

I think you can get the PB on lower trims, say XL and XLT. A decent price of XL with it (SuperCrew, short bed) is about ~48k, and going to next level XLT with it is about ~55k MSRP.

Again not knowing what things you want, a lot of traditional truck stuff can be added on later after market. But this hybrid with computer technology is crazy value IMO. You can spend more for some wild Safety features too, in the higher trim models.

 

[mbouck3]

The generator is the clincher. I have a 7,600lb fifth wheel that two years ago I set up with 14 KW of lithium prismatic cells and a good inverter but the inverter generator I bought as backup will be finding a good home. I suppose I need to start looking at as I earned it and saved it it is time to start enjoying it!

 

[IGF150]

It's a big sticker shock for sure. But, in this market the value and price of new cars are only going to go up. The longer you wait the more it's going to be. I mean they just raised the Lightning's an additional $7K across the board and used car prices are selling for the same as new.

But, (not to play devil's advocate here) if you can afford it get it. Life is too short and tomorrow is never promised. I was stressing on if I was making the right decision for weeks when i reserved a 2022 F150 XLT Sport 302A for 48K but I thought it was a steal for the price. I went through with it last week and I am glad I did because that truck is awesome. And for you the Powerboost is awesome!

I say get what you want as long as it's affordable and makes you happy. That is what life is about.

 

[Ryan74]

You can wait, wait, wait but eventually you have to decide if you want it or not.

 

[Buyer2021]

"Just retired"

BTDT ~15 years ago. IMO if you didn't have a plan to make a major purchase within a specific budget immediately following retirement you need to be very careful about that. If you're relying on a "broker" to manage your retirement planning, what does that person say about your vehicle purchase budget? That 'frog in your throat' may be a good indicator of your own gut feel / best judgement.

#1 rule for personal finances, even more important in retirement .... Live Within Your Means. There will always be seductive things that are slightly beyond your means and could jeopardize your financial security; that brings huge risk of many stresses on your life that are almost assuredly not worthwhile.

These are risky times and retirement is 'forever' for you. Don't blow-it right out of the box, take the time to get comfortable and learn what your newly-retired situation really means insofar as day-to-day living.

No direct answers in that, all just for your consideration.

Good Luck, I hope you enjoy your retirement as much as I have mine so far (I am far from wealthy by any measure but retirement has been great!).

Signed - Lucky to be happy and comfortable living within my means in retirement

PS - No, I had no trepidation / "hand wringing" / angst about buying a new truck when I ordered last December because I knew what my budget was, stayed within it (didn't buy a loaded Lariat or a Powerboost though they sure were seductuve), and have confidence in my long-term financial-plan and its contingencies. And yes, I'm thrilled with my truck!

 

[Cb Mw]

Yeah pretty much, second thoughts.

Spent 13 years after college grinding 50+ hrs for the corporation, getting some promotions, saving for a bigger house in a better neighborhood, 401k/IRA, driving the same old 2006 car, helping pay down the wife's loans- essentially chasing financial security while delaying kids until it came.

Fast forward to having kids - the savings is now worth a lot less, can no longer spend each weekend finalizing reports for the corporation, who now happens to be merging/synergizing/cutting expenses.

The house is too much risk at the current prices with the lack of job security. The 3 year old RX350 in the budget went from 32k to 45k, then it turned into a new 60k f150. Basically its an f it purchase. Need something safe for the family,
hoping it's reliable for the long haul.

Cheers

 

[Kanuck]

Been retired since 2018 and have had my truck since May of last year. It is the first truck I ordered with what I wanted for options. Got a loan at 2.99 %, so with leaving my money in investments where it is making me more than paying off the truck. To me it is a win win issue.

 

[SakerlinaGuy]

I’m still a working stiff so my perspective may not line up with yours - but - I worked my rear axle off to get where I am and work it off daily to stay there. I was looking at used, trying to cut features etc to make the price more palatable until my wife told me one day to “just order the damn King Ranch and stop worrying about it, you deserve it”
- In the grand scheme of things the difference between an XLT and say a King Ranch or Lariat isn’t THAT much - if you’re 100% on getting a truck - get what you want as long as it doesn’t derail your retirement. You’re in your 60’s, probably worked your rear axle off and did without for a long time to make your family financially secure - and you can’t take money with you when your number is called. Just hope that Ford can build and deliver it before you’re in your 80’s.

 

[hussar1683]

Has anyone got about a month out and started having misgivings? I had been looking for a truck for about two years and the prices just went higher and higher. At first I was thinking a 30, thousand dollar used truck would be really sweet but now for that you wont get shinola. So started looking at powerboosts and just love the concept. I just retired am just over 60 retired lived frugally and we saved well. WE are secure and have a great broker that keeps us solvent but any thing 50 or above just puts a frog in my throat. That's what I paid for first house. I am sure I will go threw with it and love it but has anyone else have this hang wringing when this close

I think used car prices will fall off the cliff within several months if you can wait. There’s a lot of new vehicles out there (particularly trucks) recently purchased for way too much. These owners will be upside down on their loans, due to financing already inflated MSRP plus the markup for a “short” 7 years at 8-900 per month! Combine that with the recession and the end of government give aways such as the mortgage or student loan freeze just to name a few. People will be choosing between those ridiculous car payments or keeping their houses and putting food on the table. But hey… I’ve been wrong before ?

 

[mbouck3]

"Just retired"

BTDT ~15 years ago. IMO if you didn't have a plan to make a major purchase within a specific budget immediately following retirement you need to be very careful about that. If you're relying on a "broker" to manage your retirement planning, what does that person say about your vehicle purchase budget? That 'frog in your throat' may be a good indicator of your own gut feel / best judgement.

#1 rule for personal finances, even more important in retirement .... Live Within Your Means. There will always be seductive things that are slightly beyond your means and could jeopardize your financial security; that brings huge risk of many stresses on your life that are almost assuredly not worthwhile.

These are risky times and retirement is 'forever' for you. Don't blow-it right out of the box, take the time to get comfortable and learn what your newly-retired situation really means insofar as day-to-day living.

No direct answers in that, all just for your consideration.

Good Luck, I hope you enjoy your retirement as much as I have mine so far (I am far from wealthy by any measure but retirement has been great!).

Signed - Lucky to be happy and comfortable living within my means in retirement

PS - No, I had no trepidation / "hand wringing" / angst about buying a new truck when I ordered last December because I knew what my budget was, stayed within it (didn't buy a loaded Lariat or a Powerboost though they sure were seductuve), and have confidence in my long-term financial-plan and its contingencies. And yes, I'm thrilled with my truck!

We have lived within our means our whole lives everything is paid off. Other than day to day living we have no bills. The last new car was in 1987. I sat back and watched friends and family buy new cars and toys every couple years but most of them after talking they say they will have to work for years to come. I am very sure I can afford it but I think its just the shock of a life time of frugality then facing a 50 grand out pay for something in my mind just a couple of years ago would have got you a loaded 2500 HD. I guess this comes off as wining but was just curious if anyone else had that holy S-- moment and said to themselves, damn that's a lot of money. I am feeling much better about it today and maybe its just time I enjoyed what getting up at 4 AM and spending years out of state working has given me. Thanks for your interest.

 

[LostBoy]

This market is a hard pill for me to swallow. I bought 2 new vehicles around 10 years ago and it's really changed in that small time frame. The decision is especially hard because i do not trade my vehicles in and generally keep them well over a decade so what ever i buy needs to be 100% what i want.

I'm running into things like dealers monopolizing on the high prices but also adding things like "paint protection plan and window tint and xyz... etc" for another 3-4K. Yesterday i talked to someone trying to sell an XLT for $61,900 plus their protection package thats non negotiable and i had to tell him man after taxes that's a $70,000 XLT! Pretty ridiculous. He really saw nothing wrong with that lol.

 

[Bigguy214]

I don’t think used truck prices are going to go down anytime soon.As long as new prices are up where they are that drives the prices of used up.Xlts are not cheap anymore the 2022 xlt I ordered had a sticker of 63k lol.I did load it up with almost everything but I never thought and xlt could be priced that high.

 

[PPK]

2016 Lariat = $47k; leftover 2018 SLT = $42k; 2021 order that turned into a 2022 502A $57k.. Things are going up.. Get the F150 now.. and brace for driving a Maverick next time.... if you are lucky, a Ranger.. depends on how the stewardship of our economy is handled I guess. Get a 8 yr warranty and try to go the full eight with it.. that is the only way you are going drive a new one is to keep it a real long time.. We might even be replacing the power train at 150 k miles and keeping it.

Middle class is not what it used to be... it has taken a real hit. I might even go further and say that middle class is on the wane for a lot of us...

 

[Cb Mw]

2016 Lariat = $47k; leftover 2018 SLT = $42k; 2021 order that turned into a 2022 502A $57k.. Things are going up.. Get the F150 now.. and brace for driving a Maverick next time.... if you are lucky, a Ranger.. depends on how the stewardship of our economy is handled I guess. Get a 8 yr warranty and try to go the full eight with it.. that is the only way you are going drive a new one is to keep it a real long time.. We might even be replacing the power train at 150 k miles and keeping it.

Middle class is not what it used to be... it has taken a real hit. I might even go further and say that middle class is on the wane for a lot of us...

Unfortunately I agree with much of this. However, wishing my 22 was 502a for 57k (cries in mid year price increases)

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