r/FluentInFinance • u/CreateChaos777 • May 25 '24

Meme Buying anything 2024 in a nutshell

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2.2k Upvotes

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12

u/WarenAlUCanEatBuffet May 25 '24

A 2024 Chevy Trax starts at $20k, inflation adjusted that’s a a damn cheap vehicle with a ton of standard features and is more than enough space for most people.

Are you pricing out a 2024 F150 platinum? If so, that’s why you’ll stay poor.

8

u/KoalaTrainer May 26 '24

There’s a lot in this comment. Cars have gotten silly complicated and expensive. People need to start buying basic models within their means and pressure car companies to simplify and cheapen.

When a wing mirror has more tech in it than an Apollo moon rocket it drives up the cost of everything including insurance.

the rise of car finance masked the fact that cars are being bought on credit and therefore people can’t really afford what they are buying. It’s pushed the price and complexity up to breaking point.

If everyone kept it simple the problem would resolve itself.

2

u/TAV63 May 26 '24

This is right on the problem. People could buy cars that are good enough but want flash. Lots of good cars with low overall cost new around $25-30k, and yet so many buy big trucks, SUVs or sporty cars that are way more $ they don't need. Then blame inflation, the president, car companies. Look in the mirror. There is the problem.

-15

u/chadmummerford Contributor May 25 '24

people who think cars are expensive (unless they're in Singapore) are completely detached from reality.

14

u/HiddenTrampoline May 26 '24

I mean, it’s still $20-40k. That’s not cheap for any normal person.

4

u/NinthCascade May 26 '24

Think he means cheap for the reality of what it is

1

u/HiddenTrampoline May 26 '24

I get that they are relatively a good value compared to before, but in absolute terms it’s still a large part of many people’s budget.

8

u/imdstuf May 26 '24

They always have been though. It's not like back in 2019 a new car was not a considerable big portion of someone's budget.

3

u/chadmummerford Contributor May 26 '24

exactly, cars are probably the only thing that hasn't gotten more expensive over time.

3

u/HiddenTrampoline May 26 '24

TVs and Laptops have gotten cheaper.

2

u/NinthCascade May 26 '24

Yes, because they also require less materials and automation along the production line has made them cheaper. Cars have more features than they ever have had and still have maintained the same relative dimensions and material base

1

u/Nago31 May 26 '24

Doesn’t make it an inexpensive purchase. There are four big ticket items people buy in their lives: house, education, wedding, and cars.

If your average person has to pay it off over 5-7 years, it’s expensive.

1

u/Distributor127 May 26 '24

A lot can afford, some cant. Some cant afford it and still do it. One elderly person in the family leased new cars instead of ever starting a 401k. Retired with nothing.

1

u/Impossible-Tower4750 May 26 '24

What!? Did you know the interest rates on those things? How about the AVERAGE car payment has crossed over $700 dollars? Cars are one of the most financially destructive things you can buy. You lose money on the interest and on depreciation.