Why are people willing to pay insane amounts of money to finance a car?

[Meatspin]

I don't know about the timeframe but I keep reading about the A380 being shelved due to new planes like the Dreamliner being much cheaper to run (two engines vs four on the A380)

Never seen a Dreamliner configuration with a bar up the back of Business class though :-(
View attachment 1066034
It'll be a sad, sad day :-(

Good to know, cheers

 

[TardStrong]

The most I'm paying for a car to drive to work is $22k and the most I would pay for a truck to hack my dirtbikes is $40k. The truck I could do another $10k in mods but nothing more.

Even when my house is paid off in 39 months I won't change those numbers. A nice truck that is moded is all the vehicle I need

 

[Renard]

I don't think it's that people are insane or stupid but more that they've growth up used to the casino economy. Infinite growth, infinite debt, infinite money printing. It's not their fault, it's a system that was foisted upon them. Now the bourgeoisie have pivoted to implementing agenda 2030, corralling everyone into smart cities, driving up artificial scarcity and restricting freedom of movement is a small part of the entire picture. They're also preparing to throw the current economy and the dollar into the garbage bin after they're done defiling it, to then start a new casino economy in CBDCs (marketed as various coins to obfuscate what it is), which will also be extremely exploitative but in a novel way.

It's not just that people are buying more expensive cars now; shitty, lower-end cars cost more than before, so of course the monthly payment is higher. The buying habits that people have from pre-2020 don't work in today's economy. It hasn't clicked in a lot of people's brains and they're still spending like it's 2019.

 

[chardog]

The most I'm paying for a car to drive to work is $22k and the most I would pay for a truck to hack my dirtbikes is $40k. The truck I could do another $10k in mods but nothing more.

Even when my house is paid off in 39 months I won't change those numbers. A nice truck that is moded is all the vehicle I need

paying off your house might change you, the mental freedom is as good as it gets. property taxes are still a bitch, but a much smaller bitch.

 

[TeTe]

Yes, they are cheap, rattling, plastic junk. I'd never drive a Tesla... I do have one of their home batteries though.

If someone loves cars, they probably have zero interest in cars with autopilot. I'll just be happy with a sensible little hybrid hatchback for my next car.

Some people are just enamored by mostly useless tech. I prefer to pay for loud exhaust, the ability to shift gears and feel the rumble of the engine throughout the car.

 

[Jack Reacheround]

What shitboxes are you driving that have a 90,000 mile lifespan?

100,000 miles. Yeah, modern cars can probably make it much further. At least, if they’re Japanese. Idk about the American cars, though I’ve heard they’re much more reliable now.

 

[TestosterOWN]

I always buy used.

 

[syct23]

I always buy used.

We can tell…

 

[TardStrong]

paying off your house might change you, the mental freedom is as good as it gets. property taxes are still a bitch, but a much smaller bitch.

Property tax is like $3400 a year for me. Well when my house is paid off im gonna focus on remodel, vacations, and motorcycles. I just not that into cars

 

[Contempt]

Some people are just enamored by mostly useless tech. I prefer to pay for loud exhaust, the ability to shift gears and feel the rumble of the engine throughout the car.

Yep, unfortunately less and less cars even let you change gears yourself these days. My new car won't as there is a battery integrated into the gearbox... weird setup but cool tech and stupid performance.

 

[val_lixembeau]

I always wanted to live comfortable, but below my means. Maybe thats why i am 45 and still have all my hair. lol

If you managed to retire before 45, I think you made continuously made good choices. I can see why you wouldn't buy a flashy car. Seven hundred a month really isn't that much in today's economy though.

 

[bean88]

I bought a car for £4.4k 6 years ago and am still running it now at 15 years old, I can spend money on expensive toys when my house is paid off and I’m financially stable, should I feel the need

I don’t get it either but I think some people just don’t understand that those behaviours keep you in perpetual debt and just mean you have to work until you’re almost ready for the retirement home

 

[AGGAMEMNON66]

Some people are just enamored by mostly useless tech. I prefer to pay for loud exhaust, the ability to shift gears and feel the rumble of the engine throughout the car.

Most people just view a car/truck as something that gets them from point A to point B.


That said these discussions that come up where ‘why buy a car because it depreciates’ as if every car is some stock investment cracks me up. Why buy anything at that point..? Not everyone that spends money on something is buying that something based on its monetary value. It’s also about what it means to them, or what it can do for them.

 

[sideboob]

So financing a depreciating asset is better?

Oh actually I think he was referring to leasing, IIRC

 

[fingercuffs]

I did when I moved to the US. I wanted a brand new car so it didn't break down and I had full on warranty and couldn't be bothered looking into better deals.

 

[djacobox372]

100,000 miles. Yeah, modern cars can probably make it much further. At least, if they’re Japanese. Idk about the American cars, though I’ve heard they’re much more reliable now.

100k miles is old last century logic.

Modern cars are good for twice that, including American. Toyota and Honda? try triple or more.

 

[djacobox372]

I did when I moved to the US. I wanted a brand new car so it didn't break down and I had full on warranty and couldn't be bothered looking into better deals.

1) New cars break down, in fact I'd trust 2 year old car in good shape over a new car that hasn't been broken in.

2) You can buy a full warranty without having to waste money on a new car. Most are rip-offs but not as big of rip-off as a new car.

 

[Copper Burner]

Some people are just enamored by mostly useless tech. I prefer to pay for loud exhaust, the ability to shift gears and feel the rumble of the engine throughout the car.

 

[fingercuffs]

1) New cars break down, in fact I'd trust 2 year old car in good shape over a new car that hasn't been broken in.

2) You can buy a full warranty without having to waste money on a new car. Most are rip-offs but not as big of rip-off as a new car.

You missed the part of me having just moving to the US. I needed a car within a week and it was easy.

 

[Mike]

Self employed folks can expense the payments on their taxes, but wiser self employeds save, pay cash, and expense the vehicle’s amortized depreciation on their taxes.

It takes a little patience, even if you’re not self employed.

-When you’re poor, drive the least expensive thing that suits your needs, regardless if it’s embarrassing.
-Work harder and longer than everyone else while banking the surplus.
-When the banked surplus reaches a certain milestone, upgrade the vehicle paying cash. You’ve been earning interest in the meantime instead of paying it, and if things are unexpectedly tight, you aren’t penalized for missing payments.

Many people unfortunately aren’t disciplined enough for this approach, and will jump on a payment as soon as their credit score allows.

And if you're in a bind and have to take a shitty loan, don't just say oh well and fuck up the next five years of your life. Work overtime or do whatever you have to do to pay the loan off early.

When my old beater died in the summer heat I had to finance my current vehicle while I was still repairing my credit. My loan rate was like 26%

Instead of paying the minimums for 5 years like a moron I worked 60 hours a week and paid it off in 2.5 years, saving a ton on interest.