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Message

re: The economy is just broken

Posted on 5/19/24 at 12:34 pm to
Posted by ronricks
Member since Mar 2021
7133 posts
Posted on 5/19/24 at 12:34 pm to
People not being able to afford a truck doesn’t mean the economy is broken

Posted by dukke v
PLUTO
Member since Jul 2006
203713 posts
Posted on 5/19/24 at 12:35 pm to
Yup. That’s the way to go. I’m still driving my 2008 Kia… only has 115,000 on it. I hope she can go another 5 years or so.
Posted by PUB
New Orleans
Member since Sep 2017
18351 posts
Posted on 5/19/24 at 12:35 pm to
Insane
Posted by BuckyCheese
Member since Jan 2015
50094 posts
Posted on 5/19/24 at 12:36 pm to
quote:

2. People can no longer trade in lots of negative equity into new finances, which is supposedly CRUSHING car sales (and says a lot)


I was amazed at how many people wanted to trade every two years while having 5 year loans twenty five years ago. All of them upside down of course and no one wanted to put money down.

Now with 7 year loans?
Posted by moneyg
Member since Jun 2006
56785 posts
Posted on 5/19/24 at 12:37 pm to
quote:

This has been the left wing plan for over 100 years.



Truth.

And, so many morons not only didn't see it, they championed the leftist causes to their own detriment.

Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75291 posts
Posted on 5/19/24 at 12:37 pm to
quote:

7 year loans


What about boat financing? Don’t people even go way more years with those loans?
Posted by faraway
Member since Nov 2022
2165 posts
Posted on 5/19/24 at 12:40 pm to
quote:

People not being able to afford a truck doesn’t mean the economy is broken
sadly you missed the op's point.
Posted by Flashback
reading the chicken bones
Member since Apr 2008
8347 posts
Posted on 5/19/24 at 12:41 pm to
My rule is 8 y/o used car with 120k or less mileage. Preferably Toyota of some sort. I'm not trying to keep up with Jones.
Posted by keakar
Member since Jan 2017
30152 posts
Posted on 5/19/24 at 12:41 pm to
quote:

A new Tacoma TuRD off road with a 4 cyl and cloth seats stickers just south of $60K.


this is clearly not possible since the OT idiots keep saying you can still buy new vehicles for $30k all day long, they cant link to any, but they give links to bait and switch ads for vehicles that arent real
Posted by Purplehaze
spring, tx
Member since Dec 2003
1835 posts
Posted on 5/19/24 at 12:52 pm to
Some consumers have never learned the difference between needs and wants
Posted by shutterspeed
MS Gulf Coast
Member since May 2007
63651 posts
Posted on 5/19/24 at 12:53 pm to
quote:

Wrong, talk to a few realtors. They will tell you. It's ugly out there.


I have and do. I’m just speaking for my area, but what you’re saying doesn’t appear to be the case.
Posted by Pikes Peak Tiger
Colorado Springs
Member since Jun 2023
4075 posts
Posted on 5/19/24 at 12:59 pm to
quote:

The economy is just brokenby


Oh well. It’s what we voted for….allegedly
Posted by GeauxTigers123
Member since Feb 2007
1391 posts
Posted on 5/19/24 at 1:29 pm to
quote:

this is clearly not possible since the OT idiots keep saying you can still buy new vehicles for $30k all day long



You can buy new Ford Mavericks in the 20s. But yeah, full size trucks are getting expensive. Lots of people could get by with the Maverick.
This post was edited on 5/19/24 at 1:30 pm
Posted by Gee Grenouille
Bogalusa
Member since Jul 2018
4969 posts
Posted on 5/19/24 at 1:42 pm to
I’d suggest buying an older vehicle with readily available parts with your 10k. When I say older, I went 89 ford ranger. Parts are easy to get and generally cheap. frick these new car prices.
Posted by Zachary
Member since Jan 2007
1678 posts
Posted on 5/19/24 at 1:53 pm to
When Democrats force car makers to build electric cars no one wants, those makers are going to raise the prices of the cars people do want in order to offset the losses.
Posted by X123F45
Member since Apr 2015
27514 posts
Posted on 5/19/24 at 1:58 pm to
quote:

RAV4 for $18,000 and keep on kicking it.

A 10 yr old RAV4 should be $7500


I mean i paid under 18 for a fullsize quad cab 4x4 that's only missing radar cruise control and a moonroof. 5 years old. 130k on it. Bought last year.

Same exact truck new is 68 before you start negotiating.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
51872 posts
Posted on 5/19/24 at 2:02 pm to
quote:

Now with 7 year loans?


Eight, now. How long before 10-year loans just to buy a fricking car?

Yet people will still be dumb enough to do that and those sorts will help to keep prices from dropping as they would otherwise.
Posted by Powerman
Member since Jan 2004
162266 posts
Posted on 5/19/24 at 2:07 pm to
quote:

People not being able to afford a truck doesn’t mean the economy is broken

Of course not

But a significant portion of the population being upside down on vehicles is certainly not a good thing to have present in the economy

Home affordability where it stands is also not a good metric

There are at least a handful of things that together could be a ticking time bomb for this economy
Posted by redstick13
Lower Saxony
Member since Feb 2007
38634 posts
Posted on 5/19/24 at 2:10 pm to
Should be a good time for me to sell my Toyota with a 6 speed stick that I have back in the states.
Posted by fallguy_1978
Best States #50
Member since Feb 2018
48917 posts
Posted on 5/19/24 at 2:13 pm to
quote:

There are at least a handful of things that together could be a ticking time bomb for this economy

A decent uptick in unemployment and this will get ugly very quickly.
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