I don’t know how the average consumer can afford to buy or lease a new car.
The average consumer will no longer settle for an average car.
“Prices are shooting up because shoppers are opting for pricey SUVs and trucks packed with more high-tech options than ever before,” said Jessica Caldwell, executive director of industry insights for Edmunds.com Inc.”
Well if I’m getting a new truck it might as well be the Dodge Ram Custom Harley Davidson Ranch BIGG PIGG edition, right?
A good old 84 month loan is the answer. Lets them roll in lots of negative equity
That sounds hawt.
Add to that the low(ER) interest rates.
And for people who can’t afford it put them in the subprime group who will eventually won’t be able to afford the payments.
All the more reason to hack leases eh financial gurus?
LOL Yes, as The Fed pumps Billions into the Repo Market to Prop up the Economy.
I saw a report either by Edmunds or some other car data gathering company that average 8 year old car is now $10k.
By the time you are done paying that loan at $200 with all tax and fees the car would be 16 year old.
But I tried to use that logic outside of Leasehackr and all I get is the same mantra “leasing is a waste of money” even if I show them leases at $150 a months.
Because people all think they need to put $3000 down and pay $300/mo for a 25k car…in those situations of course you should buy. But getting a car for $200/mo with nothing down I don’t see any situation a $10k 8 yr old car makes any financial sense. Of course many people can’t get approved for leases in their situation. So poverty is perpetual.
The mantra I hear all the time is “why pay for something that will never be yours?” or “You’ll pay all that money and you’ll end up with nothing”. The carrot on the stick never stops to work, even if by the time you get to the carrot it will be all rotten and there will be plenty of nicer carrots laying around for free…
Fed pumping repo market because some of those 2012 regulations are placing limits on big banks to intervene as they have to meet their requirements. Just what it is.
Must be all those cash cars DR is telling people to buy.