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Maybe because the price of cars is outrageous. A new Honda Civic is 35,000. Less than ten years ago you could get one around 20-25k. So now your car payment is
by bluedays 3y ago
Maybe because the price of cars is outrageous. A new Honda Civic is 35,000. Less than ten years ago you could get one around 20-25k. So now your car payment is 40% higher to compensate for the higher price of the vehicles. I know inflation was bad but I’m pretty sure it wasn’t this bad.
- wang_li 3y agoIn a normal year the target rate of inflation is 2%. Over ten years that will raise prices by more than 20% since it compounds.
- opencl 3y agoThe base price of a Civic has gone from $18,190 in 2014[1] to $23,950 today[2]. That's 30% which pretty much exactly matches the official CPI inflation numbers. [1] https://hondanews.com/en-US/honda-automobiles/releases/release-0986806e6a694bfc906cacfb52e7dd5f-2014-honda-civic-pricing-and-epa-data-1 https://hondanews.com/en-US/honda-automobiles/releases/relea... [2] https://hondanews.com/en-US/honda-automobiles/releases/release-5003aaa39c009393f5d06d620f08fa05-2024-honda-civic-sedan-pricing-and-epa-ratings https://hondanews.com/en-US/honda-automobiles/releases/relea...
- jeffbee 3y agoThe top trim Civic Touring, with the most expensive optional paint job and the biggest, ugliest optional wheels, and the most expensive options package, and literally every accessory in the catalog, has an MSRP of $34165.
- bluedays 3y agoI would agree if the MSRP was what vehicles were being sold for.
- 38000106 3y agoAssuming USD -- a new Civic is still around $25,000 MSRP. A $20,000 car 10 years ago "should" cost $26,000 now according to the first inflation calculator I could find. 32% cumulative inflation according to them.
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