Credit card debt is at an all time high as people are living beyond there means. What happens when unemployment goes to 8 % as people get laid off? Finally starting to see incentives on new vehicles as more are available. I think prices will come down but it will be a while. I feel like the oracle from Kentucky.

People like me are taking a real beating with these truck prices.

I have never owned a new vehicle and have not made a car payment since 1985. I've found the best way to have a nice, reliable truck is to buy for cash every few years. I put money away regularly for when I will need a new truck, then when it's time, I find a good deal on a reliable used truck and cash money talks, believe me. I look for pickups about 5-7 years old with about 90,000 or so on them. I drive them up to about 275k or so (I put on an average of 35k a year), then sell it and buy another. I have been doing this for about 30 years.

The cost of doing this keeps going up, which is natural, but the last truck I bought 4 years ago was a XLT Lariat with 91K I paid $15,000 for. It now has 233K on it so I'll be looking again in about a year. Suddenly, instead of $15k to buy, I am looking at probably $30-40k for a nice truck that's about 5 years old with less than 100k miles. That's a huge jump!

I'm in a good spot right now because I sold one of my small businesses recently and I could go purchase a new truck for cash, but I just can't bring myself to do it. The thought of putting $60-70k into something that depreciates goes against my entire lifestyle. Making payments on one is even worse. Even $30-$40k for used makes me sick. Plus I use a truck as a truck, so I can't be worried about door dings. My truck is in the woods.

Not sure how the next year or so will play out. Maybe I should get a truck for the bush and everyday driving, and then a nice one that I can put a lot less miles on and keep it for a lot longer. Not sure. Suggestions?

If you are putting that many miles on a vehicle (as I am, also) you are shooting yourself in the foot by not buying a commuter car. The car ends up being free in the end and you save the miles on the truck for resale. I drive my trucks for 5, maybe 6 years and sell them with less than 75K on them. Everyone wants a used truck with less than 75 K, They still have good value. 275K..they don't.

Just a thought.

People like me are taking a real beating with these truck prices.

I have never owned a new vehicle and have not made a car payment since 1985. I've found the best way to have a nice, reliable truck is to buy for cash every few years. I put money away regularly for when I will need a new truck, then when it's time, I find a good deal on a reliable used truck and cash money talks, believe me. I look for pickups about 5-7 years old with about 90,000 or so on them. I drive them up to about 275k or so (I put on an average of 35k a year), then sell it and buy another. I have been doing this for about 30 years.

The cost of doing this keeps going up, which is natural, but the last truck I bought 4 years ago was a XLT Lariat with 91K I paid $15,000 for. It now has 233K on it so I'll be looking again in about a year. Suddenly, instead of $15k to buy, I am looking at probably $30-40k for a nice truck that's about 5 years old with less than 100k miles. That's a huge jump!

I'm in a good spot right now because I sold one of my small businesses recently and I could go purchase a new truck for cash, but I just can't bring myself to do it. The thought of putting $60-70k into something that depreciates goes against my entire lifestyle. Making payments on one is even worse. Even $30-$40k for used makes me sick. Plus I use a truck as a truck, so I can't be worried about door dings. My truck is in the woods.

Not sure how the next year or so will play out. Maybe I should get a truck for the bush and everyday driving, and then a nice one that I can put a lot less miles on and keep it for a lot longer. Not sure. Suggestions?