4 ms·
A lot of the discourse around this phenomenon seems to center "predatory lending" but it has never looked like that to me, and it seems like a defective argumen
by jeffbee 3y ago
A lot of the discourse around this phenomenon seems to center "predatory lending" but it has never looked like that to me, and it seems like a defective argument along the lines of "7 companies caused climate change". The lenders don't come to your house and put a gun to your head. The American consumer is a hedonistic buffoon who wants a gigantic truck, regardless of the fact that their job as the assistant manager in the service department of the truck dealership can't support the $2000/mo all-in cost. Mr. Consumerbot expects the government to suppress fuel prices and regulate insurance prices and bail him out of the loan, even while he spends the remainder of his free time railing against taxation.
- sumtechguy 3y agoThen mix in a bad set of EPA curves for cars/trucks and their wheelbase/weight and a small tiny truck which most people would be happy with they can not even buy as they can not make the 50MPG rating they would have to have. So they still want a truck and buy the behemoths we have now.
- tomcar288 3y agosometimes, i wonder if those allowances for large trucks/SUVs/long wheelbase were purposely designed to subvert the stated goals of increasing MPG.
- wang_li 3y agoI, personally, wonder about how much of stuff we're seeing throughout society is due to COVID policy. How many people found themselves flush with money due to things like student loan payment suspension, tax credits, and etc. who went on to spend it frivolously and now can't make their personal finances work with no more cash from the government and resumption of loan payments and so on.
- lern_too_spel 3y agoWhile that's no doubt true, I don't think the student in the article whose 2015 Prius was repossessed falls into that category.