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Most people don't buy new cars, they buy used cars. Particularly in the bottom 45%, they know they can't afford a new car - they might look at them but they kn
by bluGill 4mo ago
Most people don't buy new cars, they buy used cars. Particularly in the bottom 45%, they know they can't afford a new car - they might look at them but they know they know it is a dream (or the car they will buy in 5 years). Car makers know they can only charge this price for a new car because in 3 years it will still have a lot of value left - most new car buyers never pay the full price: they only pay the difference between the cost and the value in 3 years (plus interest).
- WillAdams 4mo agoTime was, CAFE forced Detroit to build affordable cars which folks could buy new --- rather miss that --- that said, I'm never going to buy an all-electronic vehicle w/ multiple screens (still annoyed about the radio on my current vehicle going out) GPS tracking and built-in monitoring by way of a backup camera and so forth.
- bluGill 4mo agoEven at the height of that, most people were buying used cars. However the cheap CAFE cars did bring in a few people who would be on the fence of affording a new car. Those cheap cars also got people who could afford a bigger car, but the price was compelling anyway.
- BizarroLand 4mo agoI made $225k last year, still have never bought a new car. Closest I got was a 9 month old car with 29k miles on it for $15k off list price. Seriously tempted with the Slate though. I have the $50 pre-registration down from a few years ago, so I could have it in July-August of next year.