4 ms·
Combination of really low interest rates on new cars, and used cars becoming more rare due to cash-for-clunkers and maybe other programs. I don't think is was
by blawson 9y ago
Combination of really low interest rates on new cars, and used cars becoming more rare due to cash-for-clunkers and maybe other programs.
I don't think is was the case that used cars were literally more expensive, just that with 0% financing everywhere vs paying cash for used, or vs used car loan rates, you were probably better off getting a new car.
- taurath 9y agoI'm a few months from paying off my car which I got a 2% rate on. Financing a decent used car would have been a rate of around 8% - it about broke even with expected depreciation, and it was hard to find a good used car to begin with.