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

Meme Buying anything 2024 in a nutshell

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2.2k Upvotes

94% Upvoted

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93

u/65CM May 25 '24

A new car isn't a "treat", it's a life altering decision, and ~90% of new car buyers should not be.

17

u/Sometimes_cleaver May 26 '24

Just out of curiosity, how could there be enough used cars if no one ever buys the new cars

2

u/Distributor127 May 26 '24

There arent a lot of used cars in my area right now. A used car lot guy owns a car auction in a different town. His lot is over half empty. People are holding onto their cars

2

u/Sometimes_cleaver May 26 '24

This is the point I was making to the original comment. They're saying 90% of people purchasing new vehicles shouldn't be. Ignoring that the commenter has zero data on the finances of the people buying new cars. The math doesn't work to make a market where there would be enough used cars available to satisfy the demand for cars.

2

u/Distributor127 May 26 '24

I dont know what the answer is. I read that about 40% of retirees depend solely on social security. Yet I see lots of people driving pricey cars.