Kelley Blue Book reported that Americans paid an average of $49,855 for a new car in July, and the average pickup truck cost $66,980. The article argues the real cost is opportunity cost: investing that $49,855 in the S&P 500 could grow to $747,856.81 over 20 years at a 14.5% annualized return, or to $232,372.02 at 8%. Under the 4% withdrawal rule, these two scenarios would support additional annual retirement withdrawals of about $29,914.27 and $9,294.88. The article adds that loan interest, higher insurance and maintenance costs raise the expense of a new car, so a used car is presented as a reasonable middle ground, while pickup trucks rarely make financial sense for most people.
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