Cars are lasting longer than they used to, so longer terms are somewhat understandable.
But seven years?
Part of it is that nobody buys the standard four-door sedan anymore. Every vehicle I pass these days seems like it’s either a huge SUV or a Beemer.
If you’re reaching up for the status of a Lincoln Navigator on a middle-class paycheck you’re basically talking second mortgage.
People buy what people want. I find it amazing that Ford no longer even makes a standard four-door sedan anymore. Not a small car, not a mid-size, not a big car. Not even any car. Period. Except the Mustang.
Everything else is CUV/SUV/truck/van.
A car that used to be $6000 in 1974 is now $60,000...............
Recently I bought a used 2007 Honda Accord with low miles from a private owner. Nicely priced and paid cash, no payments with its interest. Minor dings and runs great. No Bluetooth access on stock radio but I can add in an aftermarket adapter. Can I afford a new car? Yes. Do I want to fork over $25/k or so? Nope— not on a depreciating asset.
“Every vehicle I pass these days seems like it’s either a huge SUV or a Beemer.”
Odd. Where I am the vast majority of cars are small to medium size crossover SUVs. Like my latest, a Honda Passport, which is now a mid-size SUV. We also have a 10 year-old Nissan pickup and a 14 year-old Murano.
I would argue that huge SUV’s are not all that common. Much more common is a small scaled down SUV with a tailgate. I recently (last week) made the observation on a long trip on the interstates. They all look alike except for the logo
Back in 1967, I bought a VW station wagon. That was way ahead of it’s time. Everybody and theri brother including Lexus, Mercedes and BMW are selling vehicles of that size. At the time, it was considered small.
I also bought a somewhat larger Volvo wagon. It was a real rocket with standard transmission and dual carburators. It really moved. Today, it would be the equivalent of a Honda Pilot. Somewhat larger but smaller than a 60’s Deeetroit station wagon.
While making these observations, I was driving my Sprinter van which will almost contain one of the little cars
Lincoln Aviator with 494HP V8!
Yea baby!! A real gas guzzler!!