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> at least if they're following standard budgeting advice Well, many don't. I would be curious what percentage Americans are actually spending on their cars an
by MattGaiser 3y ago
> at least if they're following standard budgeting advice
Well, many don't. I would be curious what percentage Americans are actually spending on their cars and whether it is actually as little car as they truly need. Monthly payments might be that low if they are spread out enough.
> That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data.
Would be curious what the car dealer financing agents have to say about that, as there are 120 month car notes now.
- hypothesis 3y ago> whether it is actually as little car as they truly need Part of the reason why everyone is buying an SUV instead of a small sedan, is that you just feel unsafe driving next to a jacked up truck, nevermind a Cybertruck. There is a ton of YouTube videos that will readily show that one have no chance against those in an unfortunate encounter…
- iknowstuff 3y agoAs if a cybertruck is somehow more dangerous than other trucks? It’s neither the heaviest, nor does it have the highest hood (the #1 pedestrian death rate predictor). Trucks are awful but CT is not the biggest offender lol.
- FooBarBizBazz 3y agoIt's an arms race. People are being killed. Ban air bags in SUVs. Mandate a driver-facing spike in the middle of the steering wheel.
- chasd00 3y agoyeah with those ridiculous loans a car becomes dramatically more expensive while appearing to be affordable. It's very triggering to me when I ask a salesman about the price of a car and they reply with "what do you want your monthly payment to be?". Interest rates and those long term auto loans are just gas on the debt fire.
- MattGaiser 3y agoAnd I imagine most measure affordability by that payment rather than the total price.