re: I can’t help but think a lot of people driving newer cars with upside down loans

quote:

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my first car loan in 1992 was 6%. That’s just what it was back in the stone ages. My home loan at the time was 11%. People have lived entire lives in a zero to low rate environment

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And the average car price in 1992 was $16,336.

If corrected for inflation, the average car price today would be $36k.

Instead, it is $47k.

The whole argument of “well, our interest rate was higher” is dumb as hell.

Yes, it was…and the cost of goods and services was substantially lower, even when corrected for inflation.

I would gladly take your 6% and cheaper prices over the current 7% and higher prices.