Why does everyone drive a new car now? Was it always like this? Surely they're all financed. And all over social media I hear about people complaining about cost of living. I'm in canada but America too. What's wrong with people?
>>29023740The vast majority of new cars are leased which is like half of what a finance payment is so it's not that hard to afford a new car. The fucked up used car market has also had a slight effect. There is no "skipping the depreciation" anymore. Depending on the vehicle a 2-4 year old used example with low miles will sell for a couple grand off the price of a new one. Why would you not go new at that point? People's cost of living is high because they spend a lot of money on stupid shit like going to Starcucks 3 times a day and streaming services.
Because leaving your debts to your kids is a valid strategy
>>29023740I lease cars to guage if I like them.If I do I buy them out, if not they get dropped. Of the 4 I have leased I have kept 2, less depreciation than purchasing
>>29023740Tricked into thinking it's normal to have a fucked loan and a highly retarded need to "keep up with the Jonses". Also there's a fear that you're up for an expensive bill if the car breaks, ignoring that most repairs can be done for well under the average loan repayment.
>>29023759that's just what you tell yourself to not feel bad about not being able to afford a new car.
>>29023750>Depending on the vehicle a 2-4 year old used example with low miles will sell for a couple grand off the price of a new one.My coworker and I were discussing exactly this topic a couple of days ago. He wanted a Tacoma. A 2019 with lowish miles (25k or 30k iirc) was literally $3k less than a brand new 2023. Why would he buy a used one when he could spend less than 10% more on a brand new one?
tax shenanigans
>>29023877>a couple of days ago>a brand new 2023
>>29023879>john q normalshit takes on a $40k loan for 7 years @ 7%>$2.6k interest payments in first year>$500-600 tax savings assuming no MAGI phase-out
Just don’t be poor
>>29023896Wow. I mean, I am absolutely stunned by your actual stupidity. He was talking ABOUT THE PAST. Like, a story being told in 2026 that happened in 2023.
>>29024337nice try chatgpt
>>29023740Used vehicle prices aside from a few exceptions like trucks and EV are insanely overpriced.
>>29023759>ignoring that most repairs can be done for well under the average loan repaymentIt's less about repair cost and more about the opportunity cost. A breakdown might only cost 1000 bucks to fix. Hardly worth spending $500 every month to avoid spending $1000 once a year. But you don't just swipe your credit card and poof the car is fixed. You're stranded for days or maybe weeks while it gets fixed. Maybe you rent a car but that can be hundreds of dollars more and a huge inconvenience. Maybe you were going somewhere important and now you missed it. It's worth it to most people to just get a new car with a warranty and have that peace of mind.
>>29023759>Also there's a fear that you're up for an expensive bill if the car breaksGood mechanics are hard for the average person to find. It's easier to run into a parts swapper than it is a guy who will diagnose failed solenoids and offer you a $700 repair on your transmission verse the parts guy offering $6000 for a new transmission.
>>29023740Dumbasses think not having to pay for a repair is cheaper with a massive monthly payment because they can't save money to save their lives. Saving money for a nicer car takes years now for the average loser and they don't want to wait.
>>29024348I get what you're saying. If you need your car to get to work and each day you make $500 a day for example, then it can be worth it to pay for a new car so you are guaranteed to get to work. I still prefer to drive old shitboxes. I would love a new car but even the cheapest soulless shit car nowadays is like $500 a month after you put a down payment to cover the initial depreciation hit.I guess the only saving grace for me is used car values have inflated. So if you buy a reputable new car that holds its value we'll and you put a good down payment, you can turn around and sell said car to recover your money. I'm not smart enough to predict if used car values will go down in the future. So long as we keep importing millions of Indians, I'm sure the demand for cars will continue
>>29023740>Was it always like this?Yes, except people could actually reasonably afford them back then. It was even worse, actually, because at least now you can drive a decade old car and still reasonably pass it off as new as long as the paint shines and headlights aren't yellowed. Back in the day when, say, a '54, '55, and '56 would've all been separate facelifts, your few year old car suddenly looked old even faster than today. That's not to get into the "muh cars didn't last as long" spiel and the whole fear of mechanics outside of warranty either, since people can't into either wrenching or finding a decent mechanic (or having savings for eventual maintenance on paid off/older cars). The benefit of fancy LED DRLs, more driver nannies and a bigger infotainment screen are just the icing on the cake to normies.
>>29023740debt is more accessible than ever because even though (((THE BANK))) now has rules against subprime lending and is actually interested in following them lest 2008 happen again, car dealerships and other agencies have formed ~*ShADoW bAnKs*~ and gladly lend you money without having to follow those rules and not caring about following them since they make their money through other means than lending itselfalso leasing is not as much of a thing anymore. it's "their" car and they just took a loan for it. leasing got a bad rap because it's not "your" car even though it makes more financial sense that if you're not going to buy it one-shot (or at most like a year of loan time) it's better to lease since that covers maintenance and even gets you a new car at the end of the term. but that's RENTING and amerimutts are neurotic about rental schemes even though they already own nothing and are happy about it>>29024360normies wont pay 700$ not to mention waiting two weeks for a "simple" solenoid replacement, and it will take the mechanic days to track down the issue. but a normie would pay the 6k for a total replacement of a whole system that can be done that afternoon.
Even people here seem to genuinely believe that if you buy a used car it's going to break down constantly.
>>29024340Can't admit to fault or produce a sound arguement so you call me chatgpt on absolutely zero basis. Nice. Thank you for providing entertainment, retard. Go on now and lick your favorite window, little Tommy.
>>29025136that's exactly what an llm would say
Wealth effect, like home equity boomers or people who had a lot of money in stonks for a number of years, spend more because they have more. His entire neighborhood is people with rivians/teslas/taycans who need that torque to keep up with the joneses, and that's spurred on by increase in real estate values. It's the same reason why boomers are the ones with C8 corvettes.>>29023820People with loans often *can't* afford their new cars, and no guarantee your employment won't hit a snag and what was affordable becomes unaffordable just due to cash flow/runway.
>>29024348>But you don't just swipe your credit card and poof the car is fixed. You're stranded for days or maybe weeks while it gets fixed.Imagine living in the car dependent hell hole known as America >Maybe you rent a car but that can be hundreds of dollars more and a huge inconvenience.Real wealth has a trust worthy dealership provide a courtesy car for use as they perform the work.You speak as if middle class is upper
>>29023740because the banking behind it is allowed now.just 20 years ago a 7 year loan on a car would have been laughed out of the bank and credit union, but some were flirting with 5 already at the time, and 20 years before that, 3 years is the limit.to make line go up, you have to keep loosening more debt up if the actual market didn't grow.
i also have the position of: fuck new, fuck financing. now the market is trying to fuck me. i won't let it.
>>29025176this entire post is cope
>>29025179>muh wealththis may shock you but it turns out the average person isn't rich...
>>29023740Used cars went way up in price.There’s something wonky going on. Lots of competition for poor people goods, less competition at upper end so better deals
The price of CPO cars is so close to new cars that buying used doesn't make sense when you can buy a new one for a little bit more
>>29026010>CPOIf you only look at cars at a dealership then yeah. They do that to make you think that buying new is a “wiser investment” because you’re too dumb and scared to look elsewhere.
>>29023740Financing is usual, yeah, but the standard is 50% down and a 36 month loan. Anyone that says otherwise got fleeced.
>>29026015Yes. Buying 10-20 year old cars private sale is good. You can usually low ball these guys because not many people are buying old cars anymore. You might get some issues but often times it takes a single car payment to fix them
>>29026046>often times it takes a single car payment to fix themHow much are you fixing for $500?
>>29026051Depends. Don't buy something that has a ton of problems? Since I do my own work usually, I can fix a lot for 500 bucks. Maybe only the brakes are bad or needs tires or has a bad ball joint etc. That's been my experience. My current car had bad strut mounts and that was what caused the previous owner to give up on it. Otherwise it didn't need anything
>>29023740to flex
