321
Americans Are Falling Behind on Their Car Payments
(www.fool.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 20 Nov 2023
321 points (95.2% liked)
News
36610 readers
619 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
If you rely on your vehicle to get to work, an old beater is a false economy.
I would disagree with a 15-year-old car that is well maintained. New cars go wrong all the time too.
And how can you assure it's well maintained?
The same way your mechanic does, manufacturers have a weird habit of putting specs on everything. Even doing easy things like keeping on top of tyre pressures and oil is enough to make the vehicle run well and for a long time as those two things have a big knock on affect to the rest of the components. But I think maybe with that question you're prob not that bothered and just want an old contrarian Reddit like argument.
That's very helpful when you're buying second hand, and the previous owner DIYed the maintenance.
How does this help you at all when buying used? The number of 15 year old cars with maintenance records at all is abysmally small. And usually it's an enthusiast car that's not gonna be reliable anyway. Being on top of tire pressure and oil changes is definitely not nearly enough to keep a car maintained for 15 years. It really sounds like you're not familiar enough with cars and just have a contrived idealistic view of the car market.
Not sure about where you live, but it's common here in the UK to expect a folder with a load of service history as well as MOT records being public.Additionally, you have a V5 which tracks ownership. I think every vehicle I've brought came with a Haynes manual to boot
" Being on top of tire pressure and oil changes is definitely not nearly enough to keep a car maintained for 15 years" I don't get this logic, I make a point about even the easiest maintenance jobs being a big contributor to keeping a car going, and you take it as I should have listed every single job you would need to do? I think everyone can do a basic service and use a good mechanic for yearly checks and services, something you'd do and pay for with a new car, too except you'd have to use their shops and parts what a win!
"It really sounds like you’re not familiar enough with cars" Already stated I've kept a Ford Fiesta on the road for over a decade to add to that I've restored a 1987 Honda 90 and ran that for another 20k before swapping out the engine for something a bit more peppy which isn't saying much for those. I'm not an amazing mechanic but I like to think I still have the skill set my parents generation had.
Ultimately, the new car market is in a bit of crash at the moment and people are having to wait months to years for new cars. Do what makes you happy, but it doesn't undo my very first comment that it's not financially smart to lease a car with all their terms & conditions. They've done a good job convincing people they can afford things that should be a once in a lifetime purchase of passion to shift stock, that's my opinion it's been really fun discussion all the pros and cons with you all.
Buy new and have for 15years which is no longer being a possibility
Incorrect. You are saving a fortune on insurance and no interest in car payments.
You're also unemployed because you can't reliably show up to work, you absolute dunce.
Nope.
Excellent counter point, you really changed my mind.