- cross-posted to:
- aboringdystopia@lemmy.world
- cross-posted to:
- aboringdystopia@lemmy.world
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When cars that should cost $20-30,000 now cost $40-60,000, that’ll happen.
That’ll happen as long as people keep buying them.
It’s less the demand and more the greed of car companies and the shittiness of the products.
Companies are, and always have been greedy, that’s the point of their existence. They didn’t decide one day to become greedy. They will always maximize profits, always. You should more blame inflation than anything, it’s by far more damaging to your spending power and savings than anything else.
That’ll happen when the Federal Reserve prints more money and devalues the currency every year.
Are you telling me that people show up to dealerships and pay to trade in a car? The repo man will come to your house and pick that pile up for free.
I thought the car lease was the worst deal on the lot.
Yeah it’s crazy. Traditionally leases are a bad financial decision. I’m currently in the market for a midsize-large SUV and prices are crazy so I’m not targeting the vehicles I actually want. I’m afraid to buy car now and end up underwater on a loan if and when prices settle down and I’m in a position to upgrade to something bigger/newer, so I’m considering a lease so at least by the end of the term I don’t owe money to the bank.
Now think about the housing market. Rental nation. Just throwing away money. No generational wealth for our kids. Keep pumping out slaves to capitalism.
Car dealer has been begging me for my Tacoma since I bought it just pre-pandemic and with how low mileage it is.
I enjoy the calls, lol.
I bought my car at the end of 2018, and I get flyers in the mail maybe twice a month from the dealership trying to get me to “upgrade.” Since I work from home I barely put miles on it.
I’m fortunate in that I have paid it off, and the flyer is like, “We see you have paid off your car loan, we can get you into a new car for $300/m!” Yeah no. That’s not the deal they think it is.
More than 24% of all trade-ins toward new vehicle purchases had negative equity, and 22% of those with negative equity owed more than $10,000. Two other contributing factors to the rise in this type of loan: many consumers are taking out longer-term loans for cars to reduce monthly payments and people are increasingly trading in their cars before it’s financially smart to do so.
Ngl, submersible private automobiles sound badass enough to actually convince me to get my license.
