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PapaSkwat@lemmy.today to Fuck Cars@lemmy.ml · 3 days ago

1 in 5 new car buyers are stuck in a $1,000-a-month nightmare, and it’s ruining their long-term wealth

www.newsbreak.com

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1 in 5 new car buyers are stuck in a $1,000-a-month nightmare, and it’s ruining their long-term wealth

www.newsbreak.com

PapaSkwat@lemmy.today to Fuck Cars@lemmy.ml · 3 days ago
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1 in 5 new car buyers are stuck in a $1,000-a-month nightmare — and it’s ruining their long-term wealth - NewsBreak
www.newsbreak.com
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The trend is driven by record prices, high interest rates and buyers rolling negative equity into new loans.
  • Lysergid@lemmy.ml
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    2 days ago

    Wut? You guys have monthly payments for cars? Is this some NA thing? If you really need a a car, just buy used shitbox. There is no flex in being in debt.

    • queermunist she/her@lemmy.ml
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      2 days ago

      I’m paying $700 a month for a used shitbox, because I had to get a secondary loan to pay for fixing the shitbox’s engine.

      🎵 *And I’m proud to be an American where at least I know I’m free 🎶 *

    • PapaSkwat@lemmy.todayOP
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      2 days ago

      Here in the US, even used shitboxes are very expensive, and you never know if it’ll break down on you or not. When I was a teen, my first car cost $700 USD. Now for evne a used piece of shit in my area, they are around $10,000 USD

      • WFloyd@lemmy.world
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        22 hours ago

        Curious what area you’re in, even a used 2016 sedan with 125k miles is only ~$6,500 where I’m at. Shitboxes go for far far less than that.

        • PapaSkwat@lemmy.todayOP
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          22 hours ago

          I’m more curious where you’re at then. Because nothing that cheap here.

          • WFloyd@lemmy.world
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            22 hours ago

            Kansas City metro area. Not saying they’re all immaculate or anything, but a quick look locally:

            2016 Hyundai Elantra Sport, ~125k mi, $6800 https://www.craigslist.org/view/d/shawnee-2016-hyundai-elantra-sport/ndQo8xenJCriyRMWK3yeL2

            2011 Kia Sorento LX, ~100k mi, $6000, https://www.craigslist.org/view/d/independence-2011-kia-sorento-lx/d7GbL9qLvLbGV1mJNgsXe8

            2000 Ford Taurus, ~220k mi, $3000, https://www.craigslist.org/view/d/oak-grove-2000-ford-taurus-drives-great/wbBrmgxAUZDukLuCLYjQRy

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