Why Americans can’t afford new cars

[dylanmarcus]

Glad you figured that out… would have never know otherwise!

[HeavyK.]

COVID added 30% and inflation added about another 18%. And the car quality seems to have dropped a little bit.

[kugraw]

Not inflation, it's greed. Look up any car company and see how much raw profit it makes.

[nicholasbishop]

I think the problem is you have to make 90 K a year just to afford a new Corolla

[FirstnameLastname-peib]

It's not just that. People in the know aren't buying them because they're just so poorly made and hard to work on. Even post 2019 TOYOTAS have dropped the ball. None of them are anywhere near worth the loss in reliability and wrenchability.

[diabolicallink]

But according to our government our economy is great and inflation is under control

[kennettle]

My Toyota is 12 years old and works great. Not a bit of rust. Paid cash when I bought it. I haven't had a car payment in 40 years.

[backwardsmachining]

When a personal truck cost around 70k+ not hard to figure out why.

[catherinejacobs]

I’m saying goodbye to my 18 yr old car cuz the engine is going out and it’s too expensive to repair or replace. I’m on the city bus until I can afford to pay cash for a two-three yr old car. I’m suddenly ok with that fact cuz I refuse to screw myself with the car payment, gap insurance, full insurance, and summer gas price hikes. I may be able to get a new car by Xmas if I play my cards right.

[ifuhereuprollymad]

no its the 250 thousand percent dealership markups

[Dieharddookie]

Because our behavior with our incomes sucks and we listen to the financial institutions tell us how to live, broke.

[Rllo_u]

You are totally correct, and you will never fix that problem. Because the inflation will just keep going down from 22% to 30% and etc

[jeremy]

No it's the prices. Auto industry, new and used are over inflating their prices. It's flat out usery! It's the inflation of the car prices, if you want to argue inflation. The interest on the loans is just the final nail, In the coffin.

[cripstopheriii]

All of this sounds like a bunch of people stuck in a losing game set up for them. Avoid debt, avoid credit, don’t spend money you don’t immediately have and but private when vehicle shopping, have some brains and think for once, learn something and know how to wrench. The credit game is a complete and utter sham and people have been goaded into thinking it’s the norm when it never has been. Ursury is sin.

[tythegemini]

I have been saying the same thing. Basically, i used to make above minimum wage, but when they changed the rate to 15, it is 10 times harder to do things i used to do. But banks are funny. I'm sure the customers are saying the opposite of the banks, like you got to be shitting me 21% interest 5000 down 5 year loan 600 a month sheesh I'll be back exit stage right 😂😂😂😂

[thomast]

So, you know what will happen? The bubble will burst and the buyers need only wait to swoop in for the kill when it all crashes down.

[voodoogcarlos]

Yea well my new truck in 2010 was $36, 000 all together. That same truck package now is at $50, 000-plus. Ain't just inflation guy.

[NukSooAL]

Those evil car manufactures and their evil Shrinkflation. I seen something the other day that said 22% inflation since 2021 that’s 11 years of inflation in just 3. That makes a 600k house 732k

[inyobase]

Its the pricing, when trucks are 6 figures its just dumb. 10% of 100k is still 90k

[SkyeEEPY]

Or maybe the fact that cars are an expensive shitty inefficient way to move people