Author Topic: No words needed !  (Read 2777 times)

GR

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Worsted Skeins

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Re: No words needed !
« Reply #1 on: June 21, 2014, 08:36:10 AM »
From the article:  "[The] average automotive loan term [reached] 66 months for the first time."

Yikes!!!

GR

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Re: No words needed !
« Reply #2 on: June 21, 2014, 08:54:35 AM »
Reminds me of "Buying things you don't need through a job you don't like to impress neighbors you don't care about".

Self-employed-swami

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Re: No words needed !
« Reply #3 on: June 21, 2014, 09:09:12 AM »
None of that shit they mention, are actual needs, just wants.

lisahi

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Re: No words needed !
« Reply #4 on: June 21, 2014, 11:26:21 AM »
None of that shit they mention, are actual needs, just wants.

I thought the same thing. "Non-discretionary car financing"? WTF?

Does it occur to the author at all that a lot of discretionary spending is getting in the way of all this supposedly non-discretionary spending?

randymarsh

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Re: No words needed !
« Reply #5 on: June 21, 2014, 11:27:47 AM »
Quote
Ordinary life in America now simply requires more debt rather than less to live.

I feel their definition of ordinary is very different than mine.

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As the cost of purchasing a new vehicle continues to rise, consumers clearly are stretching the loan term to help lower monthly payments, keeping them at a manageable level

Couldn't you just, ya know, not buy a brand new 27K car?

Erica/NWEdible

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Re: No words needed !
« Reply #6 on: June 21, 2014, 01:26:43 PM »
I had a guy go off on me a bit a few months ago because we installed a solar array and wrote about it. The cost of the system was about $28,000 with a 6 year payback period and mad incentives. It will likely cover all our electricity needs. Anyway, the guy started harassing me because no one in America can afford $28,000 of solar panels and I'm an elitist asshole blah blah and stuff. But solar can be financed and often is, at pretty low rates. So I started wondering, you know, how much do these non-elitist, non-solar-having, non-asshole Americans finance on their cars and never think twice about it? So I looked it up and - sure enough -  the average cost of a car loan in the US is just about $28,000 dollars. Head shaker.

randymarsh

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Re: No words needed !
« Reply #7 on: June 21, 2014, 01:57:29 PM »
So I started wondering, you know, how much do these non-elitist, non-solar-having, non-asshole Americans finance on their cars and never think twice about it? So I looked it up and - sure enough -  the average cost of a car loan in the US is just about $28,000 dollars. Head shaker.

Average student loan debt is about 28K too, but the media acts like everyone owes 100K+ and makes 25K. That debt (which has low minimums) is supposedly crushing, but plenty of recent grads are driving around in brand new cars. Hmmm...