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Posted on 10/24/21 at 12:20 pm to TitleistProV1X
quote:
I thought the typical rule of thumb was price of car should be less than 25% of your yearly salary.
If this rule of thumb had applied at any point in my entire lifetime, the auto industry would have collapsed. So, I'm not sure when you think this rule of thumb applied.
Posted on 10/24/21 at 12:27 pm to Zachary
The same idiots who buy them and then have to sell them at a loss when they can't afford to fuel them.
This post was edited on 10/24/21 at 4:59 pm
Posted on 10/24/21 at 12:33 pm to GREENHEAD22
quote:
The same idiots who buy them and the have to sell them at a loss when they can't afford to fuel them.
I find class envy so hilarious.
I guarantee you there are far more people driving around $25K cars they can't really pay for than there are driving around $80K cars. It's not even close.
Posted on 10/24/21 at 12:34 pm to Zachary
in todays economy people will literally buy anything and not really care much about prices, things will continuing moving until something happens (like hyperinflation leading to sky high interest rates or the government going bankrupt) and shite will literally hit the fan, then you won't see so many of these vehicles on the road
This post was edited on 10/24/21 at 12:35 pm
Posted on 10/24/21 at 12:38 pm to Wasting Time
quote:
If this rule of thumb had applied at any point in my entire lifetime, the auto industry would have collapsed. So, I'm not sure when you think this rule of thumb applied.
I've never seen 25% used but I have seen 50% of gross income. How many people driving 80k trucks or SUVs do you think make more than 160k?
Posted on 10/24/21 at 12:41 pm to fallguy_1978
quote:In household income? Probably a pretty fair number. It's not like 80K SUVs sell like Camrys.
I've never seen 25% used but I have seen 50% of gross income. How many people driving 80k trucks or SUVs do you think make more than 160k?
According to the interwebs.......Chevy only sold 33K Suburbans in 2020. Compared, as an example, to 257K Camrys sold the same year.
You just notice the Suburbans more.
Posted on 10/24/21 at 12:43 pm to Wasting Time
quote:
In household income? Probably a pretty fair number. It's not like 80K SUVs sell like Camrys.
Well most households need 2 vehicles also I guess.
Posted on 10/24/21 at 12:47 pm to Wasting Time
quote:
guarantee you there are far more people driving around $25K cars they can't really pay for than there are driving around $80K cars. It's not even close.
I wish this were true. Check out Carmax on a weekend and see who’s buying. Look at the interest rate listed as well.
People get used to paying $1000/mo for cars and just update every few years. With used car prices increasing more people can upgrade vehicles.
Posted on 10/24/21 at 12:48 pm to fallguy_1978
quote:And, a lot of said households play the one car paid off one car note game. Not all obviously.
Well most households need 2 vehicles also I guess.
Also, only 48% of adult Americans are married. So, your perception of what drives household income is likely incorrect also.
Finally, if using your 50% gross rule, the average car sale in the US in 2020 was $38K Median household income in the US is $68K. So, not really that far off. Especially considering the "average" is driven to the right because the ceiling of prices drags it there.
Posted on 10/24/21 at 12:50 pm to The Goon
quote:It is a near certainty it's true.
guarantee you there are far more people driving around $25K cars they can't really pay for than there are driving around $80K cars. It's not even close.
I wish this were true.
Poorer people stretch like crazy to buy the most car they can and, their incomes are less stable. It's pretty much a statistical certainty that there are more people driving $25K cars they are struggling to pay for than are driving $80K cars.
It's not even gonna be close.
Posted on 10/24/21 at 1:45 pm to Wasting Time
All yee baws forgetting about us crypto kingpins. Just a couple of bitcoins and I can buy a sweet ride. Yukon's are pocket change for us bitKings
Posted on 10/24/21 at 5:05 pm to Wasting Time
You realize that GM will let someone fiance a Tahoe with shite credit for 12yrs right?
Class envy? ??
Class envy? ??
Posted on 10/24/21 at 7:09 pm to Zachary
I would like to see stats on % of gross income vs sales price of car they drive.
Posted on 10/24/21 at 7:33 pm to GREENHEAD22
quote:
Class envy? ??
Yes
There's a ton of class envy in this thread. It's comical.
Hell, I don't even like those behemoths. But, it's class envy nonetheless. There's zero logic in this thread from the whiners. The reality is, all the complaining is mostly due to the dislike for the perceived type of person that buys one of these things. That is all.
Posted on 10/24/21 at 7:35 pm to GREENHEAD22
quote:
12yrs right
No they won’t. That’s fricking dumb to even suggest
Posted on 10/24/21 at 7:37 pm to Wasting Time
quote:
There's a ton of class envy in this thread. It's comical
Most of the people buying 50k+ vehicles aren't wealthy. No I'm not jealous of your 1k car note
Posted on 10/24/21 at 7:39 pm to DCtiger1
quote:Exactly
No they won’t. That’s fricking dumb to even suggest
GM's current longest loan term available is 84 months. And yeah, you ain't getting a loan for 80K at 84 months with a 630 credit score either.
People tell themselves the dumbest shite to justify their own class envy
Posted on 10/24/21 at 7:39 pm to fallguy_1978
quote:I didn't say they were.
Most of the people buying 50k+ vehicles aren't wealthy.
quote:Cool. Cause I don't have anything of the sort
No I'm not jealous of your 1k car note
But yeah, you ARE jealous as frick of the people that do. It's ok to admit it
Posted on 10/24/21 at 7:43 pm to fallguy_1978
quote:This part is amusing also.
No I'm not jealous of your 1k car note
Because currently, apparently GM is offering 0% financing to qualified buyers up to 72 months. If you can afford an 80K suburban, financing it for 72 months at 0% for a payment of $1100 is literally the smartest financial decision. Paying anything up front would be retarded. Especially in an environment where inflation is happening and future dollars are becoming less valuable.
Do I have to explain the reasons for that to you?
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