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We're talking about new cars, which in the US the average price of is $50K. The working class tends to buy used cars, of which 3 times more than new cars are s
by thinkcontext 2mo ago
We're talking about new cars, which in the US the average price of is $50K. The working class tends to buy used cars, of which 3 times more than new cars are sold each year.
- asdff 2mo agoDoesn’t matter the price really. People will lease new cars for a couple hundred a month. Or finance them to about that monthly. No one is paying $50k day one. This makes it so people you wouldn’t expect to afford a 50k asset actually do have one, because they can afford to part with like $200/mo.
- thinkcontext 1mo agoYou brought up the working class as sensitive to price and now you say they aren't. That doesn't seem like a logically consistent position but maybe I'm not understanding what you are saying.
- asdff 1mo agoEurope doesn't seem to have this financing environment. There are places that you don't even need credit or down payment to finance a used car here.