Study Suggests State of the World Has More Americans Considering a Jeep

Not mine as I’m waiting for my canopy but close...

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There is a lot to like about the ranger, good vehicle to take internationally as it is one platform for parts.


I really like the new Rangers.

We rented the South African version for a couple weeks in Botswana and Zambia, most of it off-road. It was great. It lacked the romance of the 70-series trucks we usually get, but it did everything better. It drove better, it handled the craptastic dirt roads at twice the speed of the cruiser with a lot more composure, it handled the weight of all the gear better, it had more power, and it burned about half as much fuel. If I could get it with the diesel they sell over there, I'd have one now.

And that's coming from a guy that used to own a 70-series overseas and daily drives an FJ-62 now.
 
On a somewhat related point to the cost of new jeeps, I just saw where the AVERAGE new car loan is now over 70 months.

https://jalopnik.com/the-average-new-car-loan-is-now-over-70-months-because-1842624210
When I was looking at used trucks about 2 years ago, one of the salesmen told me that his average customer finances new trucks for 6 or more years and monthly payments were close to $1000/month. The high monthly payments were largely due to the fact that their trade ins were under water so that amount was included in the financing. He confided that many of their FICO scores were in the 500-600 range so their interests rates were fairly high as well.

I've been a financial planner for a long time and I'm no longer amazed at the "toys" people finance -- vehicles, boats, rv's, motorcycles - you name it (often all at the same time). Many have told me that they don't worry about anything but the monthly premium -- not the interest rates, the term of the loan or the impact it has on cashflow or an emergency fund (most don't have one). All the hype about the economy being so good (before the pandemic) was just that - hype. Many, many people are a paycheck or two away from financial disaster.
 
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