Seven-Year Car Loans: America’s Middle Class Can’t Afford Its Cars; own cars after the brakes brehs

kj614

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I feel like banks, auto makers, etc, everyone tied to the industry really are targeting people to get into the auto purchasing game permanently vs owning your own quickly and not owing anything to anyone.

They want you to always have a car payment, how it’s managed by the consumer is dependent on what his or her personal goals are.

That’s why they’ll do things like auto loans for more than 7 years and it’ll (the cars) be marketed to look affordable while really being costly.
This is true.. That is why leasing is best. If you can stay under milage of course. Cars are not and investment.. They are bills
 

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I feel like banks, auto makers, etc, everyone tied to the industry really are targeting people to get into the auto purchasing game permanently vs owning your own quickly and not owing anything to anyone.

They want you to always have a car payment, how it’s managed by the consumer is dependent on what his or her personal goals are.

That’s why they’ll do things like auto loans for more than 7 years and it’ll (the cars) be marketed to look affordable while really being costly.
its all bad now.

subscription tv services, recurring monthly bundles of services for food and clothes and ride-sharing and deliveries...

people are being nickel and dimed and DONT. EVEN KNOW IT!

smartphones costing fukking $1500!?! :mindblown:
 

WaveCapsByOscorp™

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This is true.. That is why leasing is best. If you can stay under milage of course. Cars are not and investment.. They are bills
Really though, some times it can be almost like paying rent. Like you said, leasing is best for the options and the fact the dealer is gonna make sure your car stays in good condition because they wanna resell after your lease period is up.

its all bad now.

subscription tv services, recurring monthly bundles of services for food and clothes and ride-sharing and deliveries...

people are being nickel and dimed and DONT. EVEN KNOW IT!

smartphones costing fukking $1500!?! :mindblown:

Yeah, recently I’ve been reorganizing my bills, canceling subscriptions and reorganizing others. I felt like my bank account was a bucket with multiple holes in it, leaking out money to subscriptions and memberships, things I forgot I had.
 

Suge Knight

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Same people you see at a laundry mat with a new iphone etc..

I buy cars from auto auctions (look in your area for government/bank auctions), if I can buy a 5k car and it lasts me a year or even 6 months I made my money back..

I used to be one of those people with a new car every 2 years etc, once I got to 100% debt free I stopped with that slavery to material possessions bs...
 

MR. SNIFLES

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The result of greed.

NOPE. THE MARKET IS CHANGING. THIS IS THE BEGINNING OF THE RACE TO ZERO. I'LL GIVE IT 20 YEARS AND YOU WON'T BE ABLE TO BUY A CAR ANYMORE. YOU'LL BE BUYING A SUBSCRIPTION/LEASE THAT YOU RENEW EVERY YEAR OR SO.

CONSUMER OWNERSHIP AS A WHOLE IS SLOWLY COMING TO AN END.

MEDIA IS BEING STREAMED, BOOKS ARE BEING IMAGED, AND SOFTWARE LICENSES ARE CHANGING. THE COST TO MAKE PRODUCTS IS GOING UP BECAUSE THE DEMAND FOR NEW TECH IS OUTPACING THE LUXURY TAX ON THE ITEM. THIS IS PUTTING THE PRICES OUTSIDE OF THEIR TARGET MARKETS. THERE USED TO BE A COOLDOWN PERIOD WHERE THE BLEEDING EDGE TECH WAS HIGH PRICED AND IT CAME DOWN AFTER 6 MONTHS TO A YEAR. NOW BLEEDING EDGE TECH IS CONSTANTLY BEING RELEASED TO THE POINT WHERE IT IS BECOMING OBSOLETE BEFORE IT BECOMES CHEAPER. SO NOW ALL YOU HAVE IS EXPENSIVE TECH FLOODING THE MARKET. THE SUPPLY IS HIGHER THAN THE DEMAND BUT THE COST TO PRODUCE IS TOO HIGH.

THE SAME THING HAPPENED WITH CELL PHONES. THAT'S WHY YOU HAVE THESE UPGRADE EVERY YEAR PLANS NOW. YOU PAY MORE MONEY AND THEY LET YOU UPGRADE EVERY YEAR INSTEAD OF THE NORMAL TIME PERIOD. THEY SAW THAT PEOPLE WANTED NEW PHONES FASTER THAN THEY COULD PAY THEM OFF.
 

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NOPE. THE MARKET IS CHANGING. THIS IS THE BEGINNING OF THE RACE TO ZERO. I'LL GIVE IT 20 YEARS AND YOU WON'T BE ABLE TO BUY A CAR ANYMORE. YOU'LL BE BUYING A SUBSCRIPTION/LEASE THAT YOU RENEW EVERY YEAR OR SO.

CONSUMER OWNERSHIP AS A WHOLE IS SLOWLY COMING TO AN END.

MEDIA IS BEING STREAMED, BOOKS ARE BEING IMAGED, AND SOFTWARE LICENSES ARE CHANGING. THE COST TO MAKE PRODUCTS IS GOING UP BECAUSE THE DEMAND FOR NEW TECH IS OUTPACING THE LUXURY TAX ON THE ITEM. THIS IS PUTTING THE PRICES OUTSIDE OF THEIR TARGET MARKETS. THERE USED TO BE A COOLDOWN PERIOD WHERE THE BLEEDING EDGE TECH WAS HIGH PRICED AND IT CAME DOWN AFTER 6 MONTHS TO A YEAR. NOW BLEEDING EDGE TECH IS CONSTANTLY BEING RELEASED TO THE POINT WHERE IT IS BECOMING OBSOLETE BEFORE IT BECOMES CHEAPER. SO NOW ALL YOU HAVE IS EXPENSIVE TECH FLOODING THE MARKET. THE SUPPLY IS HIGHER THAN THE DEMAND BUT THE COST TO PRODUCE IS TOO HIGH.

THE SAME THING HAPPENED WITH CELL PHONES. THAT'S WHY YOU HAVE THESE UPGRADE EVERY YEAR PLANS NOW. YOU PAY MORE MONEY AND THEY LET YOU UPGRADE EVERY YEAR INSTEAD OF THE NORMAL TIME PERIOD. THEY SAW THAT PEOPLE WANTED NEW PHONES FASTER THAN THEY COULD PAY THEM OFF.
YEP.

Some brands are already experimenting with it :wow:

Mercedes-Benz Collection - Homepage

Mercedes-Benz is expanding its luxury subscription service – TechCrunch
 
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