Car Prices Might Be Unsustainable for Buyers
Car Prices Might Be Unsustainable for Buyers
Surging loan delinquencies signal that many consumers can’t afford their auto loans.
There is a big culture of shaming and questioning people who buy small vehicles in the US and Canada. From salesmen who use it to push bigger, more profitable vehicles to people, to marketers who prey on fear and toxic masculinity to sell , and to everyday people who perpetuate the myths and fear, teasing and mocking their fellows who might have chosen a smaller vehicle. So here we are, barely a small vehicle to be bought and all maxed out on credit to drive the biggest rig we can. Well interest rates are headed up, gas is only going to get more expensive and suddenly that big rig with the the big operating cost shouldn't seem like such a good idea.
"Might" thats real cute.
Seriously though, there's some real insidious shit that goes on here in the US as far as mandates minimum fuel economy in large cars, which is definitely not helping this whole cost problem.
Basically, the US both nerfs requirements extremely quickly for more wasteful vehicles (such as SUVs and trucks) and nerfs the requirements within each individual category (like car, truck, mid-size SUV, etc) as the physical size of the vehicle gets closer to the max allowed size within that category.
This is a total win-win for automakers, as they can skate by with lower efficiency vehicles (reducing cost a lot) while making them physically bigger (not that much more expensive) and pocketing the difference. Oh and bigger is better so on top of that you just pay a fat-car tax straight to the automaker.
It's really properly fucked.
YouTube for more: https://youtu.be/mQDegCqiVnU
Work on ending car dependency
When they say car prices are unsustainable do y'all think they mean the manufacturer website one? (Website is pretty reasonable )
Or....
The one that when I step into a dealership they add $15000 for the "privilege" of me buying the car from them?
From the dealership mindset I must be batshit crazy for not buying a car from them.
There's a lot of people that will default on car loans with only the most minor financial disruption
Cars are unsustainable.
I agree but you could easily fool me with the amount of brand new trucks and suvs I see driving around. Prices will not go down if everyone keeps paying them. And then there are people that can't afford to buy groceries but they have their brand new jeep wagoneer that cost like $80k... that just further drives up prices because you have people that can't afford it still paying the premium, still driving the demand, so the dealers can get away with charging whatever they want.
@const_void take the bus
Might be?
Permanently Deleted
Big if true
Is that so?
I think the tacet agreement between csr manufactuerers to let this price hike happen, and followed by Biden's EV rules are just going to accelerate this problem. The working class is going to be forced out of driving very soon.