My last car was 3.5k and needed 1k in repairs to make it drivable. My first car was 5k and when totalled I recieved 4k and used that to buy the new car.
So in the past 7 years that 5.5k for a working vehicle. Obviously there have been minor repairs and maintenance, but not bad lol.
Indeed. US automotive debt is at a record of ~$1.66 trillion and serious automotive debt delinquencies are rising at alarming rates. The situation here is unsustainable.
It is because of car prices. They are vastly overpriced for something so essential to participate in society. How dare American consumers not want to drive a jalopy with absolutely no features, am I right!?
Debt is a funny thing - you think you can afford it until life happens. As for me, I’m willing to forgive people who life happens to. In fact, I don’t even blame them to begin with. I believe that people deserve the best - our standard of living loosely reflects the health of our society.
No one is forcing people to buy $75000 pickup trucks and German luxury cars as status symbols they cannot afford. US is always been about faking it until you make it, but no one is actually making it. I see the cars in the lot where I work, there is an inverse correlation between income and what idiots are getting into debt for.
If it was about the price of cars, then everyone would be driving a Nissan Versa, not a Ford F150.
Your disagreement has been noted. I’m not a fan of any personal mode of transportation besides e-bikes/e-scooters, and it pains me to defend the people who convince themselves they need a Ford F-150 - new (or otherwise) unless they actually are going to use it as intended.
I just don’t think Americans can be expected to think rationally and make sustainable choices. There is too much propaganda, and yes, too many people worrying about things like status symbols. Your frustration and perspective is completely valid, despite my disagreement.
I think debt as a concept is irrational and that people are being strongly coerced, in every direction, to make less than ideal choices. Of course they aren’t being forced, but what advertising/etc. does to us is proven in practice and also scientifically.
The average new car in the US is $50,000. A lot of Americans are going into significant debt to finance them.
My last car was 3.5k and needed 1k in repairs to make it drivable. My first car was 5k and when totalled I recieved 4k and used that to buy the new car.
So in the past 7 years that 5.5k for a working vehicle. Obviously there have been minor repairs and maintenance, but not bad lol.
I dread the day I have to replace my current car
I don’t think the average is very helpful here. If 4 cars are sold for $20k and one for $120k, these cars have an average price of $40k.
The median sales price would be more helpful, but sadly, I couldn’t find it online. It is likely lover than the average price.
But still your point about debt is valid:
Indeed. US automotive debt is at a record of ~$1.66 trillion and serious automotive debt delinquencies are rising at alarming rates. The situation here is unsustainable.
And it not because of car prices, it’s because most Americans get into debt over cars they cannot afford.
If it wasn’t about car prices, how come there are cars they can’t afford?
It is because of car prices. They are vastly overpriced for something so essential to participate in society. How dare American consumers not want to drive a jalopy with absolutely no features, am I right!?
Debt is a funny thing - you think you can afford it until life happens. As for me, I’m willing to forgive people who life happens to. In fact, I don’t even blame them to begin with. I believe that people deserve the best - our standard of living loosely reflects the health of our society.
No one is forcing people to buy $75000 pickup trucks and German luxury cars as status symbols they cannot afford. US is always been about faking it until you make it, but no one is actually making it. I see the cars in the lot where I work, there is an inverse correlation between income and what idiots are getting into debt for.
If it was about the price of cars, then everyone would be driving a Nissan Versa, not a Ford F150.
Your disagreement has been noted. I’m not a fan of any personal mode of transportation besides e-bikes/e-scooters, and it pains me to defend the people who convince themselves they need a Ford F-150 - new (or otherwise) unless they actually are going to use it as intended.
I just don’t think Americans can be expected to think rationally and make sustainable choices. There is too much propaganda, and yes, too many people worrying about things like status symbols. Your frustration and perspective is completely valid, despite my disagreement.
I think debt as a concept is irrational and that people are being strongly coerced, in every direction, to make less than ideal choices. Of course they aren’t being forced, but what advertising/etc. does to us is proven in practice and also scientifically.