Dave Ramsey hates Mavericks

[Watchman]

I made a decision with upper management (my wife) to sell our 7 year old luxury car that we bought used for 19k three and a half years ago. CARVANA gave us 21k for it. So we got paid $2,000 to own and drive a car for 3.5 years (with me so far Dave).

We ordered a Hybrid Lariat with a few options that comes to $28,245.00. Does Dave realize there are no used Mavericks and it's not a 'Stupid little truck".

We will be getting about $1,200 off for the Z-plan plus the 21k from Carvana brings the total out of pocket to around $6,000. With an 8-year warranty on the Maverick that will take care of us until the year 2030 plus the savings in gas -- It's a "no brainer" Dave!

I would suggest anyone considering selling to get on the internet and get an estimate from all the big venders buying used cars -- you might be surprised, we were. Carvana gave us the most and it was painless plus they picked the car up too! Dave's just out of touch on this one, he's usually reasonable and quite direct with his financial advice -- most people don't want to hear the truth about their financial decisions but in this case, times are different right now. The last new car I bought was back in 1984 -- I hate payments and there's no quicker way to throw money away than to buy new. Again, times are much different and I don't think an opportunity like the Maverick will come around again. It's all about the math.

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[DBATCH1715]

This is one of the few times where your Maverick will be an appreciating asset, that is if you paid MSRP or less. At least for a year or so.

 

[pxpaulx]

This is one of the few times where your Maverick will be an appreciating asset, that is if you paid MSRP or less. At least for a year or so.

I think it'll be for longer than that...personally I think the market correction will not go back the other way - new inventory will catch up but some of the market adjustment will get gobbled up by the industry increasing prices accordingly - why give that profit to the dealers directly? If that happens, the pricing we see will just become the new normal.

Just like housing, if your house went up but the next one you buy is also inflated, that equity is just lost to the new purchase.

In fact I would make a bet on this happening - if not, you'll have millions of loans under water, and used inventory would cease to flow even if new inventory started to arrive with more regularity. In a year or two, sellers simply won't be selling unless dealers are paying the same inflated rates, it is a cycle that has to continue.

 

[Hkak45]

I think it'll be for longer than that...personally I think the market correction will not go back the other way - new inventory will catch up but some of the market adjustment will get gobbled up by the industry increasing prices accordingly - why give that profit to the dealers directly? If that happens, the pricing we see will just become the new normal.

Just like housing, if your house went up but the next one you buy is also inflated, that equity is just lost to the new purchase.

In fact I would make a bet on this happening - if not, you'll have millions of loans under water, and used inventory would cease to flow even if new inventory started to arrive with more regularity. In a year or two, sellers simply won't be selling unless dealers are paying the same inflated rates, it is a cycle that has to continue.

2008 would like a word with you

 

[pxpaulx]

2008 would like a word with you

The Canadian housing market has requested to be in attendance!

In all seriousness, I think how the new/used vehicle market prices will play out will certainly be interesting. Many more people own vehicles in order to perform their daily functions in society than own a home.

 

[Hkak45]

The Canadian housing market has requested to be in attendance!

In all seriousness, I think how the new/used vehicle market prices will play out will certainly be interesting. Many more people own vehicles in order to perform their daily functions in society than own a home.

I agree it will be interesting. This is why I really want to order a Hybrid Maverick as soon as it opens back up next year because I have a funny feeling you are right and price will stay inflated

 

[pxpaulx]

I agree it will be interesting. This is why I really want to order a Hybrid Maverick as soon as it opens back up next year because I have a funny feeling you are right and price will stay inflated

Agreed - if in 2-3 years there is a Hybrid AWD (or PHEV/EV of some sort), I'll probably give it strong consideration. Considering I was able to buy low on my 2019 (Dec - 23% below MSRP), sell high (sold it for about 5% below that same MSRP...), and buy my Maverick 3% below invoice at Granger, I expect to still be in a favorable position whenever one of those model versions comes to market.

 

[James Smith]

These days, isn't buying new cheaper than buying good used???

Yes, especially nowadays. In my experience I have always found it better to buy new than used, provided you keep the vehicle a long time . I bought my 2007 Ranger new. 100 % reliable after
171,000 kilometers ( about 106,000 miles )

 

[Egz]

 

[Rob Cactus Gray]

I think it'll be for longer than that...personally I think the market correction will not go back the other way - new inventory will catch up but some of the market adjustment will get gobbled up by the industry increasing prices accordingly - why give that profit to the dealers directly? If that happens, the pricing we see will just become the new normal.

Just like housing, if your house went up but the next one you buy is also inflated, that equity is just lost to the new purchase.

In fact I would make a bet on this happening - if not, you'll have millions of loans under water, and used inventory would cease to flow even if new inventory started to arrive with more regularity. In a year or two, sellers simply won't be selling unless dealers are paying the same inflated rates, it is a cycle that has to continue.

I keep getting frustrated by the housing issue. I live in a cheap area so my house was $170k 3 years ago. In that time it has went up to $210k, which SUCKS for me and my wife. The same houses in nicer cities have also gone up by 20+ percent. Except they went up on a starting price of $300-800k. Meaning our $40k in appreciation could also be seen as a loss of $20-120k when we move. The problem is only getting worse. I would have been better off buying a $350k house here. The thought of owning a home in any of the nice cities I’ve visited is turning into a pipe dream.

 

[GHeine27]

Very weak answer by Dave. It is much wiser to make decisions with your eyes open rather than blindly follow rules of thumb.

 

[Murphie]

I mean what he does definitely isn't for everyone, but its not like the man is exploiting people. He helps financially illiterate people make a plan to get out of debt. I don't see why that makes you hate him, but you do you I guess.

There was a time that I used to listen to him. I feel like he did educate people, and was sometimes quite moved by the caller's personal experiences. But I lost any respect I had for him over his rallies.

I made the offer to send my daughter and her husband to one. It really hacked me off that they're encouraged to buy all his stuff that they sell at the rally. They came back with so much stuff that they never used. Such a waste.

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