Why is flexing culture so bad in this hobby? Does this mean the guy who driving an older car is actually rich?>Currently, 85 percent of all new car purchases in the United States are financed, up from 75 percent in 2009. In addition, 53 percent of all used car purchases are financed, up from 46 percent in 2009.
>>28647656>not riding a motorcycle that costs less than $5kNothing personal transitfags. Transitions are such copers.
>>28647656Financing a car (new or used) shouldn’t be an issue.However, prices went way up, rates went way up, and retards still keep buying new cars, with +1.2k monthly payments. It’s been normalized.My last car was 36k@3.99 apr, was about $360 a month.My “new” (used) car is 18k@7.56 apr. (Despite having a credit score just shy of 800, and 90k/year salary) $320 a month.Normalizing huge debt and financing everything (klarna, affirm, etc) is priming the pump for a massive, massive collapse very soon.Seriously, watch those YT clips of “how much is your car payment?” - it’s sick. And the worst part is most of those newer cars are unrepairable when the cvt shuts itself at 60k miles, or the 1.5l 4cyl starts pissing oil due to the stress of making up its anemic performance via turbo
embrace looking poor
>>28647656why are you posting a phone screenshot of a six year old article that is some political non-profit that wants to push public transportation and bike riding on an auto enthusiast forum?
>>28647686https://www.navyfederal.org/loans-cards/auto-loans/auto-rates.html>My “new” (used) car is 18k@7.56 apr.you got ripped off, or are too stupid to shop around>Seriously, watch those YT clips grifters engagement baiting with ridiculous shit, you are being captured by idiotic ragebait
>>28647656>hobbyThis is mostly normies. Car enthusiasts are like 5% of the population and as everyone else has pointed out, prices and rates have skyrocketed. The mirage starts at like $18k now and when it was introduced they were like <$15k.>>28647697You’re assuming he bought it yesterday and dealers will often give you a lower price if you finance through them, which may be cheaper.
Low education problem. Smarter, higher educated people usually don't care that much
>>28647656i make $120k a year and drive a 2017 mazda 3 with 80k miles and minor hail damage.
>>28647656I bought a sports car because I wanted to. It was 1/3 my yearly income. I financed because stock market go up.
>>28647689Certified based
>>28647656https://www.federalreserve.gov/econres/notes/feds-notes/rising-auto-loan-delinquencies-and-high-monthly-payments-20240926.html>payment amount is the key driver of delinquent auto loans>interest rates had minimal influence on payment amount>loans originated post covid are the largest delinquencies due to inflated purchase costs influenced by supply side restrictions>bhph lots loosened standards even more in this period and approved even worse loans than normaland all this to say within the last year this has all reversed, the auto loan rejection rate is sky high again and auto prices have started to fallbut I guess looking at actual data/numbers is boring and doesn't fit your retarded political narrative
>>28647697Used cars have worse interest rates anon.I have a 835 credit score and was only able to get a 6.9% loan on a used car.Doesn't matter because I paid it off in 6 months.But used cars don't get good rates ever.
>>28647686>My last car was 36k@3.99 apr, was about $360 a month.Was that a 10 year loan? No way your payments were that low.
>>28647736are you fucking retarded or just incapable of opening a link?
wow 10 point difference in 15 years - crazy
>>28647742>Just get navy federal broI use them but they tightened up their membership requirements by a lott. never military but got in through uncle somehow
>>28647742Anon, everyone knows that used cars have higher interest rates than new ones. I shopped around at 6 different banks and 6.9% was the best interest rate I could get.835 credit score with 10yrs history $124,000 a year & Home ownerHowever none of that mattered because I just paid it off in 6 months.
>>28647748Am I reading this screen shot correctly? $3582.06 for 37 months? What $132,536.22 car did you buy and why is the loan term just 3 years?
>le credit scoreLel americlaps are so cucked
>>28647656Obviously written by an NYC faggot who hasn't been murdered, yet. Try catching a bus that goes from your house to a job, twenty miles away.
>>28647886you either have a credit score too, or less than $1000 USD (equivalent in your shithole's currency) to your name
>>28647901You start with a good credit score. No one has to get in debt to "build" it up or even thinks about or knows their credit score.
>>28647689The only issue is their wealth lasers shining right through my poverty spec rear window, bouncing off my peasant tier rearview mirror directly into my poor, poor eyes
>>28647656When no one can afford a home, cars become the way to express oneself
>>28647931Have you tried marine reflective tape?
>financing
>>28647656There's nothing wrong with financing if you're not an imbecile who agrees to a fucking 15%+++ APR over 96 months
>>28647951>There's nothing wrong with financingyes there is. learn to save your fucking money.
>>28647740Ever hear of a down payment? It drastically lowers your monthly payment if you actually do it.
>>28647955No there isn't you fucking imbecile. You can get auto loans with aprs that are lower than HYAS. You're a fucking monkey if you throw away all your cash over a car. Even worse you can play low risk ETFs that will easily net you 7-9% which is far better return than wasting it on a car. I'm sorry you don't understand how car loans work or how money works in general but retards like yourself that are terrified of loans an credit are some of the biggest imbeciles on this planet. No fucking wonder you live in a trailer park and drive rusted cars.
dear god any mention of any sort of money regarding a car brings out the biggest and most financially illiterate retards the internet has to offerwhy are people so drawn to posting this asinine garbage
>>28647959I live in a house and I just bought a 2022 brz so seethe harder debt slave
>>28647931
