The lady bought a $51k Acura and the dude bought a $80k Ram.
These aren’t exactly “just trying to get by” vehicles. These are financially stupid people not wanting to work within their financial means for a vehicle. They wanted a too expensive for them “looks good so people don’t think I’m poor” vehicle and now are getting bit in the ass by it.
The article is making it out to be they are just trying to get by in life. Uh no.
In fairness 51k ain't even luxury prices anymore. Low end cars start at 30k now.
Yeah….the customers are the problem…not the tariffs, not the auto industries, not the financial industries, not the marketing practices of these companies.
Even people who’ve been doing relatively well have had their costs jacked up even more as we move from income taxes to tariffs. Wages in the bottom have remained stagnant. First time home ownership’s average age is 40. They’ve/We’ve all drank the materialist capitalist kool-aid and it’s hard to take back what control we do have.
A record share of Americans — more than 20% — agreed to pay more than $1,000 per month for a new car loan at the end of the year, according to car sales site Edmunds.
fuk... that's absurd. I felt bad agreeing to 300/month. I'd laugh at the dealer, call em drunk and never return if they tried that shit
Yeah, my car payment is $250 and I hate paying that much.
Just bought a Subaru and payment is 271. That less then my truck payment was back 8 years ago when I paid it off. I told them to get fucked when they tried to make it 394.
Why in the fuck would u pay that and not just buy a shitbox for like 2k
I'm driving a car from 2005 (original owner!) but off the top of my head: bad credit, or needing a vehicle that can handle a long drive commute reliably.
If u can pay that much to rent u can afford to buy some shitbox outright no credit required. Most of the shitboxed I've driven or my mates have driven are reliable as shit just ugly with no ac, and a broken stereo.
Where I live 2k will get you a car with a bad transmission or thrown rod in the engine.
If u can pay that much to rent u can afford to buy some shitbox outright no credit required.
yeah but some of us can't rely on a shitbox to get us 75 mile round trips. good story glad you've been shitboxmaxxing much better than anyone else I know.
But why? Isnt the sub-25k car still a thing?
Not new.
There are those that pay interest and those that get paid interest, the decision is yours.
0 percent interest auto loans are a thing
There's no such thing as a free lunch.
who said the car was free?
you’re just not paying interest
I don't see any comments about a free car, not sure to what you're referencing.
The "no free lunch" is a economics principle, no one is giving away anything for free, even as small as a free lunch. Regarding 0% auto loans... these are just another marketing scheme designed to sell more cars because some subset of consumers reported they didn't want to pay loan interest. Marketing hears that, says great, we'll design a system where you won't pay any interest. If it sounds too good to be true, it usually is... except when a billion dollar corporation is the one offering the *great deal, then you can rest assured it's absolutely too good to be true. Although you're not paying interest, the total loan amount will be comparable to someone with a similar credit score who is paying the interest rate you would have received had you gone that route.
If you're making monthly payments, you're paying more than you would of had you purchased the vehicle outright. This difference is money that could have earned interest in a bank or a return on another financial investment.
Edit: If you can't afford to buy the vehicle outright, you probably shouldn't be buying it.
i imagine you being this obtuse is a byproduct of being so far up your own ass
as to why take a no interest loan when i can buy outright, look up time value money
the research i did for both the current model and few years back showed i paid below market average
but yea i am sure you know better with zero specific details
If you’re not paying cash for your car, you can’t afford it.
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--If a picture is just a screenshot of an article, link the article
--If a video's content isn't clear from title, write a short summary so people know what it's about.
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world