The same is true for many auto and home loans in the US. The point, I think, is that you have much less purchasing power now that rates have gone up than before

The same is true for many auto and home loans in the US. The point, I think, is that you have much less purchasing power now that rates have gone up than before. Trucks are fantastic vehicles if you can afford them, but a 7% rate on a new $80k truck is beyond most people right now.