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I'm sure some will keep buying. Not me. I think it is ridiculous. Could I afford a new one? Sure. I just refuse to do it. Mine is a 2019 2500. They have basically kept them the exact same, so there is no reason for the crazy high prices now.
So far, so good.
The wages didn’t go up anywhere near that much. I got a 3.5% raise this year (best since 1992 or 93) which was roughly $1.35 on the hour and I was ecstatic. They’re still using the pandemic, chip shortage, etc as an excuse. Since most people can’t pay cash they’re going to offer low interest rates on their own at these prices.
Which means, you fell behind by 6%...So did the rest of us. Buisness is reporting record profits, which means most of them are using challenges to up pricing and people are paying it.
Agreed. But there is a tipping point in which someone's greed causes damage to other then themselves. Fixing that seems to be a socialist endeavor for which i am against, but waiting this out sure isn't fun...At some point, this economy has to go downward. Polarization of earners has long been in play, but it's nearing completion to a society of haves and have-nots.
That 9% inflation BS is a propaganda number that the gov't/media puts out. It couldn't be more obvious that prices on everything have gone up significantly more than that. A 9% increase would be a relative bargain at this point.
If that's true, there's more to it than just the insanely inflated vehicle prices. A payment that high is partially due to a low down payment.
That seems closer to reality than an average of $1500/mo payment but still, monthly payments are tied to down payment amounts.
That, and people over-buy...You'd rather have that 3/4 ton diesel instead of the mid-size truck you could suffice with. Kinda like having a Casio that tells time and insisting you need a Rolex.
Supply and demand!
Lets not forget the resale on crappy cars is not that good, so when they don't have the money to fix them, they just roll over the upside down loan into a new one. And they smile as they sell you the GAP insurance you so desperately need.....
. I have seen it with my own eyes.
