Auto loan craziness article

[Captain Crawfish]

Keep adding on the debt!!! Stagnant wages and hyper inflation are just around the corner. Gonna be fun. Wait till those negative rates start draining your bank account!! Not yet but they will cut more to keep this shit show going. They can shove those 50-60k car notes right up their ass! You want to get a good laugh look at the bond yields. What a joke

[John -- '02 HAWK]

At least 50% of “high car prices” are due to the buyers. Buyers now insist on large SUV’s with leather, heated & cooled seats ( not needed with cloth seats), nav. system, apple car play, power everything and cameras all over. You can still buy a decently equipped new car or truck for less than $30K, but most a quite willing to sign up for a $50K to $70K vehicle. No one thinks long term, only about what they want today. That is why we have become a nation of fat, broke people, with no plan for tomorrow.

um all those electronics (heated & cooled seats, nav. system, apple car play, power everything and cameras) are relativly cheap to manufacturer.

But I agree getting into the driverless and driver aid features as those sensors tend to be a bit pricier

a lot of the new cost now comes from engine and transmission and the new safety features that keep getting mandated like all the air bags, and now pedestrian collision zones to get higher insurance safety ratings

I believe another reason the prices are getting higher is because the mfrs are trying to build to many models to cover international markets because of the decline in profits the share holders are seeing. while trying to met environmental demands that are not realistic with consumer demands. which is why there has such a big uptick of 4 and 6 cylinder engines with turbos on 4000lb cars.

The auto industry needs to evolve. It needs to go away from yearly models, lower annual volume, it needs to fix the dealer and labor cost issues, and it needs to think individual customization at a more local level (think svt/copo per state), and maybe even regional production

Theres also the buyer wage problem. Salaries for the lower and middle class have been stagnant while inflation has been going up. Making a a lot of have and have nots in our consumer driven society

[Big A]

Anyone with a wage problem needs to be buying used, there is absolutely nothing forcing anyone to buy a new vehicle, regardless of the cost.

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[white trash wagon]

On most car (and truck) lines, the price increase from base model, to top of the line, at least doubles the price, in a few it nearly triples. Yet the base model almost certainly has A/C, cruise, automatic, power windows/locks, meets EPA mileage & emission standards, and DOT/NTSB safety standards. So anything beyond that is all on the buyer. Buying a $60K Ecoboost Ford Edge Platinum because it gets 3MPG better, is false economy, if you think your saving any money over the $30K NA V-6 base model. Its about feeding the buyers ego, while getting them to spend on a car, for what you could have bought a house in Garland for a few years ago.

[Gasser64]

...the next recession.

If you can, please go into roughly when that will be and maybe approximate on the cause. Thank you.

[Broncojohnny]

If you can, please go into roughly when that will be and maybe approximate on the cause. Thank you.

Next Tuesday at 3pm.

No one can predict that shit dude.

[Gasser64]

Next Tuesday at 3pm.

No one can predict that shit dude.

Well no but there are certain indicators that will arise, just like back in 2008. Just seemed like you might be paying attention to a few. Other than to say that the usual boom and bust will happen. I always like to talk to people who like to follow more closely than I do.

[Labora]

I've always driven used cars, newest being 3~ years old when I got it. I can't stomach the huge deprecation hit on a new car even if I can afford it.

Selling car parts for living most people wouldn't believe what replacement parts have shot up to also, in relation to the overall price of newer cars they have also risen.

Lots of cars will become very expensive to maintain in the coming years as the manufactures do not support the cars very far out (some are better than others), and they are becoming overloaded with so many features.

[ram57ta]

I've always driven used cars, newest being 3~ years old when I got it. I can't stomach the huge deprecation hit on a new car even if I can afford it.

Selling car parts for living most people wouldn't believe what replacement parts have shot up to also, in relation to the overall price of newer cars they have also risen.

Lots of cars will become very expensive to maintain in the coming years as the manufactures do not support the cars very far out (some are better than others), and they are becoming overloaded with so many features.

Closest I've come to new was my 94 Trans Am in 1997..13k miles, original owner bought for his wife for a birthday and she didn't like it..her 2 16 y/o twins were fighting each other for it..so he bought them both identical Grand Prix GTP's instead because he was afraid they couldn't handle a 275hp LT1.

[inline 6]

You know what hasn't been all over the news..... GM plant workers have been on strike for a while now and they havent been making any vehicles for a minute. Something about laying off 13k-ish workers and Mary Barra is making somewhere north of 22MM and they aint happy bout it.

[Captain Crawfish]

You know what hasn't been all over the news..... GM plant workers have been on strike for a while now and they havent been making any vehicles for a minute. Something about laying off 13k-ish workers and Mary Barra is making somewhere north of 22MM and they aint happy bout it.

Only thing they talk about is the fake ass Unemployment numbers. You do not lower rates if things are great. You wouldn’t have to. Watch earnings for signs of consumers pulling back. These crazy PE s cannot sustain without consumer spending. Let’s see what happens

[Jesse]

Anyone with a wage problem needs to be buying used, there is absolutely nothing forcing anyone to buy a new vehicle, regardless of the cost.

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I have never had longer then two year loan . But I’ve noticed a lot of people where I work driving new KIAs. One I knew had bad credit and a repo on his history . I asked why the hell he spent 25k on a new car and his answer was they were the only ones that would finance him. . He couldn’t pay cash because he has none , can’t get financed for used car but KIA would finance a new car with shit credit.