Why Americans are suddenly paying $550 per month for new cars

just drive lyft if it's that much of a problem and get a car. my stepson is back in our house ( :angry::angry::angry::angry::angry: ) and is driving lyft the second day he came back i took him down to hertz and lyft gave him a new toyota corolla for 280 a month to drive around even for personal use unlimited mileage.

Lyft has your son by the balls with that contract.
 
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Its foolish to buy a new car. No matter your income.

Bullshit!!

If you are on top of your game and know how to handle those dealerships you can come out on the winning end. How do I know? I did it.

My wife and I were walking our local GMC lot and here comes the salesman: "So are you here to buy or just looking?" I looked at him in his eyes and said, "All that depends on you."

You must due your homework before you walk on the lot. Keep your emotions in check. Don't be too excited about shit.

Now I'm just like my parents when it comes to automobiles. We buy new, keep them for the long-term and make sure we take care of them so they can take care of us in the long term. You must take care of that investment.

I don't dog my shit out and do all preventative maintenance religiously. Take care of your shit.

By the way, in March of 2014 I drove of the GMC lot with just what I went there for: a fully loaded 2014 GMC Sierra 1500 SLT Texas Edition Crew Cab for right under 40K. Truck had 52 miles on it when I drove it off the lot. I will have this baby for the long-term for sure. I take great care of this investment because shame on me if I don't.

:itsawrap:

 
I saw an article recently about teens are no longer buying cars as they first get their licenses and more concerned about social media and what not. I was like that's BS. They or their parents just aren't buying cars like before due to finances.

But here's food for thought anyways of how stealerships take you for your bread.



Naw I believe it.. different generation. I know quite a few teens who got a license just cuz but don't have much interest in driving. I don't understand it.
 
Why is this surprising? A fully loaded Honda Accord is pushing 40k now. A car note on a 40k car for 60 months will set you back 650-750 a month depending on your APR. 550 is a payment for a 28k car which is what even civics cost
A person that works in the building I work in just bought an Elantra for 34k. I can't believe people still buy new cars.
 
Another stupid thing people do, is use the WHOLE loan approval amount. USAA told us we had about 43k to play with. We used less than half of that. We got a 1 year old car with 6k miles on it, and they said as far as they're concerned, that counts as "new".
 
Once dealers started that 72 and 84 month shit people started taking it. I remember when the dealer told me that was an option back in 2012. I looked at dude like:confused: Naaa 60 months is cool, most I'd ever go is 66. If you can't pay a car off in 5 years you don't need it. Muthafuckas ain't bout to milk me for extra interest.:smh:

Co sign... 60 months should be the max on a finance and folk gotta make sure they are keeping their vehicle because it makes no sense to finance 5 years only to take on another payment after a trade

Man listen, I had a car paid off for about 7 years, shit started to break down in ‘15 and I started car shopping. I was thinking I’d just grab a Tahoe or something and be done with it. Man them shit’s started at about $70k!!! Naaaaaa son! Nope!!
Fam with trucks especially GM trucks they have a 10 year design span before they switch it up.. cop you a 15 model certified pre owned let the suckers eat the depreciation hit on those new whips...
 
No he was right. You lease a new car but buy a used car. With a lease, you pay for what you use and still write that shit off if you have a viable business.
If i buy it i also am paying for what i used the moment i decide to sell it. Uf i buy it i dont have to worry about maintaining full coverage i could go no fault or have none on it at all esp if i dont drive my car all year around or in the winter time
 
not true there is nothing but new cars on the road here...its just very few can afford the insurance to go with it...new ford trucks,dodge rams,new hell cats...ect..ect..
Try checking statistics and not going by your eyes. The new cars you see compared to the cars that aint selling aint shit. You know how many 2018 2019 cars i seen impounded when i went to get my car from the impound after i was arrested recently......a lot
 
let the suckers eat the depreciation hit on those new whips...
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Vehicles are costing more because of al the tech they put in them, everything that was an upgrade years ago comes standard now and jacked prices up.
  • now all vehicles must come with a rear camera per US law.
  • infotainment systems add to the cost
  • drive assist (car has camera inside that detects if you falling asleep)
  • lane assist etc
  • led headlamps cost more for some stupid reason
 
If i buy it i also am paying for what i used the moment i decide to sell it. Uf i buy it i dont have to worry about maintaining full coverage i could go no fault or have none on it at all esp if i dont drive my car all year around or in the winter time
Nonsense. If you buy it and finance it, you always have to maintain full coverage.
If you didn’t finance it and paid cash fir a new car then only a worthless and stupid person would leave himself exposed to such risk in order to save $700 on full coverage. Lol.
 
Nah, fuck that. Ain't going past 36 on an auto finance.
Most people can’t afford a 36 month payment on a 20k car let alone a 40k plus. You’re looking at close to 600 a month on a 20k note with a relatively low APR. A 40,000 car with a 0% APR for 36 months will run you over $1100 for 3 years. Americans are too poor to handle that
 
Nonsense. If you buy it and finance it, you always have to maintain full coverage.
If you didn’t finance it and paid cash fir a new car then only a worthless and stupid person would leave himself exposed to such risk in order to save $700 on full coverage. Lol.
Jag, why are you ruining his ducktales, bruh? If a person posts some stupid shit like that, they've never financed a new car. Ain't NO bank let you get less than full coverage, and if you let your shit lapse, the insurance company will contact the bank and tell them.
 
Vehicles are costing more because of al the tech they put in them, everything that was an upgrade years ago comes standard now and jacked prices up.
  • now all vehicles must come with a rear camera per US law.
  • infotainment systems add to the cost
  • drive assist (car has camera inside that detects if you falling asleep)
  • lane assist etc
  • led headlamps cost more for some stupid reason

My neighbor just copped an 07 MB S600 that has all of that tech that’s required in whips now.. shit is wild how a 12 yr old car was 10 years ahead of its time...

He said he paid 17,500 for it with 68k miles... he paid less than what he could have bought a new Honda or Toyota the build quality is 300 times better..
 
Jag, why are you ruining his ducktales, bruh? If a person posts some stupid shit like that, they've never financed a new car. Ain't NO bank let you get less than full coverage, and if you let your shit lapse, the insurance company will contact the bank and tell them.
Not only that the dmv won’t even process your registration if their is a bank lean on your title and you only have liability insurance lmaooo
 
Most people can’t afford a 36 month payment on a 20k car let alone a 40k plus. You’re looking at close to 600 a month on a 20k note with a relatively low APR. A 40,000 car with a 0% APR for 36 months will run you over $1100 for 3 years. Americans are too poor to handle that
Yeah, you're right. We traded in a paid off 2014 Impala LTZ when we got our car.
 
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My neighbor just copped an 07 MB S600 that has all of that tech that’s required in whips now.. shit is wild how a 12 yr old car was 10 years ahead of its time...

He said he paid 17,500 for it with 68k miles... he paid less than what he could have bought a new Honda or Toyota the build quality is 300 times better..
but his maintanence costs is going to kill him unless he finds a good mechanic
as a Mercedes owner, this will be my last, lol!
 
Yeah, because the banks will let you do that. :rolleyes:
I dont get what your implying the banks wont allow me to withdraw cash to pay for a car up front or they banks wont allow me to drive or have a new car i paid for w/out full coverage.....
They have no choice.

If i buy it out it is mine. If i wanna drive it in the winter and ride a cam am spyder in the summer or ride it in the spring summer and fall and drive a bucket in the winter i can......dont have to keep full coverage on the car. I can chose my insurance
 
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