A Boring Dystopia

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Americans are more underwater on their car loans than ever before (qz.com)

submitted 1 month ago by return2ozma to c/aboringdystopia

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[–] kSPvhmTOlwvMd7Y7E 9 points 1 month ago (1 children)

I bought mine cash, used Peugeot 308, 10k€. I feel like every car in US needs a real-estate-size loan to afford it

[–] MirthfulAlembic 6 points 1 month ago

It feels like in the US way more often than ever before people are buying in the luxury/premium car space. I stay exclusively on the cheap end because it's all I need. The options for new economy cars shrink every year, but there's a million pickup and SUV options. It seems normalized to spend way more on a car than you really need, partially because financing is offered on ridiculously long terms (5+ years) for a depreciating asset.