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New Cadillac Electric to carry $300,000 Price Tag

edited June 25 in Off-Topic
Cadillac STORY

Related: Average New Car Price Tops $47,000 -
Question: How can the average American family afford anything close to $47,000? To make matters worse, many low income families are left driving vintage vehicles built 10-20 years ago when fuel was cheaper and mpg a lot less.

Comments

  • edited June 25
    Times have changed for sure. Many people finance their cars over 3 to 5 years that add to the total cost of ownership. In the meantime, the car is deprecated its value. Spending in careless way is one of the reason these people will not save enough to retire.

    BTW, my wife drives a 10 years old Honda minivan while I drive a 20 years old Prius. With gas over $4 a gallon, we reduce our driving to half and limit our vacation to local areas. Our neighbor recently got an electric Hummer, most likely well over $50K.
  • I'm going to wait for the Cadillac Electric Pickup. Looking forward to spending 500k for a vehicle that has no practical use.
  • @Sven : you peaked by interest. $84,650 is the starting price ! Ouch !
  • Sven said:

    Times have changed for sure. Many people finance their cars over 3 to 5 years that add to the total cost of ownership. In the meantime, the car is deprecated its value. Spending in careless way is one of the reason these people will not save enough to retire.

    BTW, my wife drives a 10 years old Honda minivan while I drive a 20 years old Prius. With gas over $4 a gallon, we reduce our driving to half and limit our vacation to local areas. Our neighbor recently got an electric Hummer, most likely well over $50K.

    The Prius is a fun little car to drive. MPG is a crazy 55+ mpg or something like that. Rented one recently. Only thing couldn’t get used to was the dash mounted shift lever. Up was backwards and down forward, Kept getting it wrong. Seems to me that’s opposite of what it should be.

  • edited June 29
    $84,650 for a car! That is a lot of money to burn.
  • edited June 29
    Hi @Sven et al.............Take a peek with the below link. If you know of someone with a big ego and money to burn, I snooped around Michigan auto sales and found THIS lovely.........scroll down the page a bit to discover the MPG data. Michigan insurance is very high....trying to imagine that cost and the monthly payment, AND what one would be able to sell the vehicle after two years. DAMN!
    Remain curious,
    Catch
  • Back then cars are considered utilitarian vehicles for going from point A to point B. Nothing fancy.
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