No, but we have a surprising amount of people who don’t see too much of an issue with taking out a 72-84 month loan on an 80k truck. (that probably is over 100k with interest and fees)
Poor financial literacy, not really planning for the future, or thinking the reliability will make up for the extra cost. Either way, I suspect there’s plenty of people like that around the world, just that we have less public transport so most people actually need a car to get around (although most people would be better with beaters or just a couple years old sedan).
Yep. I recently got a newer car (a first for me, grew up on beaters and was fine until I drove a newish miata), and I remember when talking with credit union’s officers that the new avg price for a lot of the loans they were seeing was around 50k, which just blew my cheapskate mind.
More or less agree, pretty much predisposed to lightly used vehicles. While I’d argue that Teslas have a lot less maintenance than ice cars, the downside is I’ve heard that a lot is non-user serviceable, and any issues with the car are pretty hard to fix without going straight to Tesla. The drivetrain is supposed to last for ages though, so I suppose that is a definite plus. Evs have come a long way in the last couple of years, but the charging is still an issue, more than the range for a lot of people (myself included). I actually considered a Mini Cooper se which has a range of around 100 miles, but given I live in an apt the charging situation wasn’t really feasible. Honestly, rather than having major charging stations on interstate routes, it would make soo much more sense for the government to incentivize a lot of higher density housing to adopt low cost lv2 chargers.
85% of america has 100k burning a hole in their pocket
No, but we have a surprising amount of people who don’t see too much of an issue with taking out a 72-84 month loan on an 80k truck. (that probably is over 100k with interest and fees)
Those people are brilliant
Poor financial literacy, not really planning for the future, or thinking the reliability will make up for the extra cost. Either way, I suspect there’s plenty of people like that around the world, just that we have less public transport so most people actually need a car to get around (although most people would be better with beaters or just a couple years old sedan).
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Yep. I recently got a newer car (a first for me, grew up on beaters and was fine until I drove a newish miata), and I remember when talking with credit union’s officers that the new avg price for a lot of the loans they were seeing was around 50k, which just blew my cheapskate mind.
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More or less agree, pretty much predisposed to lightly used vehicles. While I’d argue that Teslas have a lot less maintenance than ice cars, the downside is I’ve heard that a lot is non-user serviceable, and any issues with the car are pretty hard to fix without going straight to Tesla. The drivetrain is supposed to last for ages though, so I suppose that is a definite plus. Evs have come a long way in the last couple of years, but the charging is still an issue, more than the range for a lot of people (myself included). I actually considered a Mini Cooper se which has a range of around 100 miles, but given I live in an apt the charging situation wasn’t really feasible. Honestly, rather than having major charging stations on interstate routes, it would make soo much more sense for the government to incentivize a lot of higher density housing to adopt low cost lv2 chargers.
deleted by creator