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Started By
Message
re: The Great Car Bubble
Posted on 8/5/23 at 1:52 pm to rintintin
Posted on 8/5/23 at 1:52 pm to rintintin
quote:
alarming map
Alarming for who? The car companies? Do you care about them? Its not like they will go away and no longer supply the demand.
If anything, less demand should drop prices so unless you really need a vehicle drive what you have for as long as possible.
1
Posted on 8/5/23 at 1:54 pm to TexasTiger33
quote:
We buy with straight cash, homey.
I used a credit card, got cash back!
Posted on 8/5/23 at 1:57 pm to rintintin
Wyoming and Texas both have to be mostly because of all the 3/4 ton and larger pickups. Difference is they're actually bought to use as trucks in Wyoming.! Most of the ones in Texas never leave their local metro area.
Posted on 8/5/23 at 2:03 pm to rintintin
quote:
Reasonable estimates say you should spend anywhere from 10-20% of take home pay on a car note.
These types of estimates probably also say you should spend 30% of take home pay on your mortgage. But if you already have your trailer paid off, I don’t see a problem spending 50% of your take home pay on an F-250.
Posted on 8/5/23 at 2:09 pm to notiger1997
quote:
I just don’t get how someone can stomach a note even over $600 for 5 or 6 years that’s making average income.
You obviously under estimate how important it is for people to keep up with the Joneses on Instagram. People would sign for a $1500/month note if they made $2,000/month, if the bank would allow it.
Posted on 8/5/23 at 2:19 pm to OweO
quote:
Alarming for who? The car companies? Do you care about them? Its not like they will go away and no longer supply the demand.
If anything, less demand should drop prices so unless you really need a vehicle drive what you have for as long as possible.
Do a little critical thinking and ponder the consequences of a large number of people drowning in debt and living beyond their means. How might that affect consumer spending and the rest of the economy when they cant kick the can down the road anymore?
The car companies are an afterthought.
This post was edited on 8/5/23 at 2:20 pm
Posted on 8/5/23 at 2:22 pm to rintintin
Don’t worry. They’ll just offer 200 month financing.
Posted on 8/5/23 at 2:52 pm to rintintin
8 years of financing.......
Posted on 8/5/23 at 3:07 pm to rintintin
People take money out of investments/total savings to pay for something like that. They'll simply pay it all up front if they have enough money saved up. Way easier to do than having to pay a car note
Posted on 8/5/23 at 3:13 pm to rintintin
quote:
Assuming it's true
Yeah, you’re wasting your time with your napkin math. People who spend irresponsibly and build ridiculous debt don’t really care to hear about money management.
Posted on 8/5/23 at 4:51 pm to rintintin
Louisiana is ranked 50th in the economy and pay. Yet half of Louisiana is driving around in a 10 year loan 80k 1k plus monthly loan vehicle. What a time to be alive.
Posted on 8/5/23 at 5:00 pm to rintintin
Meh
$1000 for 48 months @ 0% isn't that big a deal
$1000 for 48 months @ 0% isn't that big a deal
Posted on 8/5/23 at 5:07 pm to CP3LSU25
quote:
half of Louisiana is driving around in a 10 year loan 80k 1k plus monthly loan vehicle.
Wut? I bet less than 5% of the cars in this state are worth 80k or higher
Posted on 8/5/23 at 5:25 pm to rintintin
A $1000/month car note is not unfathomable to me.
Posted on 8/5/23 at 5:37 pm to rintintin
quote:
Do a little critical thinking and ponder the consequences of a large number of people drowning in debt and living beyond their means. How might that affect consumer spending and the rest of the economy when they cant kick the can down the road anymore?
The difference is this is quite simple to fix if this becomes an issue. Drive to dealership and trade-in for a much cheaper car. The trade-in market is even more ridiculously inflated. You can fix this ina Saturday morning.
Posted on 8/5/23 at 5:54 pm to rintintin
My car payment is $1500 / mo, and I’m happy with it. Why? 0% financing was available when I bought my car. The money I would have used to buy the car is sitting in a high interest savings account earning about 5% interest.
Posted on 8/5/23 at 6:06 pm to kciDAtaE
quote:
And no one is “gladly” paying it. It’s just what nice shite costs.
This is terrible thinking. This is why companies will keep pushing prices higher on everything just to see if people will keep paying stupid prices. At some point you just have to say i aint buying something at this price. I have done it on some of the food items i used to purchase. It's not much but people need to start pushing back on companies when they keep raising prices instead of just saying oh well i'll just keep buying.
Posted on 8/5/23 at 6:13 pm to rintintin
Personal rule: Total vehicle price should never exceed 25% of gross income.
I don’t really care at all what the “note per month” is.
I don’t really care at all what the “note per month” is.
This post was edited on 8/5/23 at 6:16 pm
Posted on 8/5/23 at 6:23 pm to ob1pimpbobi
quote:
Wtf kind of car is $325 a month?
You financing a golf cart?
My f250 work truck package 4wd crew cab is 274 a month...be laid off soon with 80k miles on it.
We do have to replace the wives van. They are double what they were when I bought hers...
Posted on 8/5/23 at 6:28 pm to rintintin
I have six vehicles in my driveway right now and do not owe anything on them. For once it is not me.
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