Let them drive Teslas!!!
And they couldn’t before — so Obama gave them away....
Lets not blame the rich for this one...
Unions have driven the cost of cars up more than anything else.
Retirement plans for many in the industry are the envy of even congress itself.
“Capitalism assumes constant growth — a model that is inherently unsustainable.”
I see this writer’s confusion. Capitalism doesn’t assume constant growth, but it often sustains it. Other economic systems tend to do the opposite.
My last vehicle purchased new was a company vehicle, bought in 2007 just before everything started to come apart due to the real estate crash and associated financial crisis. It was a fairly loaded 2008 GMC Acadia SLT1, leather, panoramic sunroof, 19” polished alloy rims with low profile tired, upgraded stereo plus all the options that came with the SLT1 package. Good-looking vehicle, I was quite pleased with it. Pretty upscale at the time, and the most I’d ever spent on a vehicle. It was a little over $33,000.00 out the door. That’s how badly the price of a new car has inflated in ten years, now that fairly expensive $33,000.00 is the average cost of a new car.
That one sentence alone tells you what is truly wrong with the very sick United States of America.
Shut down Wash D.C. Have all Congress critters live year 'round in their home districts. Conduct all business using WebEx. Get the govt close to the people. Avoid new members from getting corrupted by the good old boys in Wash D.C.
Remote TVs, side air bags, GPS, power windows, lower weight requirements all increase costs.
And in many cities, the average family income is not enough for the average family to buy an average cost house.
So where does this leave us? Average earnings can’t buy a house or a new car. Decades ago this was not the case. What changed??
Average new car loan is longer than 48 months, and there are a lot of six and seven year loans, not to mention leases that ratchet monthly outlays down.
How much do various government regulations drive up the cost of a new car?
$33,000.00 is the average?
Then these people could buy a smaller car-—a new Corolla can be had for about $19,000.00
.
I have only ever bought used. Pay cash, drive it til it dies.
***Bankrate study, analysts used the so-called 20/4/10 rule. It assumes a 20 percent down payment, a 48 month loan,***
Think about the olden days before car sales companies started offering long, long term credit often with no money down.
Back then, you made your buying deal, then went to the local bank, and negotiated a loan + sales tax loan through them.
A new car was 20% down and 24 months to pay the loan off.
A used car was 20% down and 18 months to pay the loan off.
None of this 72 months and no down.
There is a difference between the average cost of a new car and the cost of the average new car purchased.
Also, the average age of a car on the road is about 11 years.
This is all just fun with numbers. Make statistics prove your agenda.
I will do what I did last time: buy a certified pre-owned car with low miles (this was before Cash for Clunkers drove up prices). Even that will be exorbitant in cost.
The car I have now was one year old when I bought it, in great shape with under 20K miles. It now has 110K and I take good care of it praying it will make 250K. The process of buying a car in this country is thoroughly unpleasant from cost to negotiation.
no kidding it’s true. we have a fleet of old and beater cars in the driveway that come with their respective list of repairs needed, A 2000 Jeep that our daughter gave us to recompense for her car insurance costs that just hit 200K miles. A VW Passat2005 diesel baking in the sun that needs work and will not start, A GMC cargo van 92 that has a steering wheel, tires, dash no heat,no AC, no radio but cranks every time and had a transmission rebuild/alignment, new tires. It has lots of cool Trump stickers... then we have a toyota (late nineties) Camry that has half the front bumper missing when 2 dogs ran out in front of us on the highway leaving Tyler. It runs and has AC.
Re: average car cost. The author is correct.
Re: #FakePresident. I’ll take him over Madam Cyberhack.
I can see a future where individuals goes to a local shop where their car frame, body, doors, etc are 3d printed and then engine, glass, electronics added. This could make for a more customized solution that might be less expensive.
Obviously, the parasitic, tax hungry and regulatory Federal government has done a bang up job of inflating goods and services beyond the reach of the Middle Class.
I stopped reading here: “and will get richer still if the #FakePresident has his way”