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More Than 80 Percent Of Americans Can’t Afford New Cars
(jalopnik.com)
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this post was submitted on 06 Oct 2023
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Those are extreme cases.. they're buying a 48k car (that seems on the high side) but trading in an 8k car (so old/cheap or both).. of course the loan is going to be large.
Normally you'd time the trade.. my current car was an upgrade on my last but the monthly payments reduced because I timed it so the value of my existing car was reasonably high.