Here is prime example.
A couple of years ago I bought a 2012 Ford Expedition EL Limited 4X4 with 65k miles on it, body and everything in mint condition, loaded with every option available, all leather, 3 tv screens, heated/cooled seats all the way around, front and rear captain chairs, auto leveling suspension, you name it, it has it.
I knew it needed some maintenance, engine checked out perfect, no oil leaks, compression issues, nothing like that, and being mechanically inclined I bought it for $12k
I wanted it for a secondary vehicle, family hauler, boat / RV towing, etc.
I wanted to put it back on top shape and be as reliable as I could.
I did all the work myself minus the tranny because I don't have facility to lift it and price was reasonable
To put it back on top shape, I did the following;
New battery
New Tires
New Plugs, fuel and air filter
Re-man tranny and transfer case
New 4X4 actuators (due to vacuum leak)
New half axle seals on the front
New brakes & rotors (heavy duty for towing)
Replaced manifold gasket and studs (known issue)
New bearing hub assembly
New Shocks / Springs front
Total invested when done, including cost of vehicle) about $22k
That same vehicle new, when I called around, with all options is running $76k to $84k
Even in the event I have to drop a new engine in it at some point, that would put me around $30k
Still less than half of a new vehicle in like new condition.
When I first seen the vehicle I could see it written all over it, a guy brings it in for brakes or something else minor, the salesmen walks up something along the lines of "Well, the brakes will cost $2,200 (which is crazy, heavy duty towing brakes and rotors DIY was around $375) then he explains the 4X4 actuators need replacing around $1,500 ($250 DIY), your manifold is starting to leak, another $2,000 ( $200 DIY), front shocks and springs $2,500 ($200 DIY), and the crazy list goes.
The customer is now looking at well over $8k just for some basic maintenance done at a shop, not including tires $1,200, tranny and transfer case, axle seals, etc at who knows how much a shop would cost.
The salesmen them turns around "You know, just for the cost of brakes and tires, I can put you in a brand new one under warranty for the same monthly notes.
The buyer doesn't care that it will be a 20 year loan, ending up paying close to $100k for a vehicle, all he cares about is the monthly payment.
And here I am, with a like new vehicle, paid off in 4 years.
I see the same thing, probably even worse when it comes to boats and RV's
It's beyond crazy
Relentless
Waste of money OR a trashed, bad-deal vehicle