Times are changing and I do not think we will see another bailout like we did in 2007 with GM. I heard on the news the other day that Ford will be discontinuing all car models in North America except some Mustangs; only trucks will be made by Ford because no one is buying new cars anymore. Sales have plummeted.

This "truck" bubble too will pop as new truck prices are so pumped up with hype that anyone buying a new truck today is a sure sucker, even if it is more utilitarian than a car. Anyone wanting a truck to use for actual work is going to opt for a 20 year old truck that's made tough as nails and has proven itself over the test of time, and for a tiny fraction of the price of its new counterpart.

I only drive "beaters" nowadays. I've purchased two brand new light trucks back in the day, and while I do not regret the experience, it was a huge waste of money in both cases. Funny thing was when I bought my first truck, it was far easier to obtain financing than it was to buy a used truck and I literally had no cash for a vehicle; I was flat broke and my car's clutch has just gone out on me. They took my broken down car as a down payment and I drove off the lot with a shitload of debt and a new truck, without shedding so much as a dime from a pocket. Did I lose money? Oh yeah, but it was worth it at that time in my life. I was 24, living in San Diego and things were happening - I was making money so it was appropriate to roll around in a new truck.

These days, I opt to live with as little money as I can and do things myself or at least in a much more sustainable way. Instead of a car payment, I have invested in tools and knowledge of auto mechanics and I keep my 28-year-old truck running strong as well as my little 23-year-old 4-banger Chevy Cavalier. Annual cost of ownership, not including fuel, is less than $1000 a year for both vehicles.