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Car Prices Might Be Unsustainable for Buyers
(www.wsj.com)
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this post was submitted on 22 Aug 2023
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Fuck Cars
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There is a big culture of shaming and questioning people who buy small vehicles in the US and Canada. From salesmen who use it to push bigger, more profitable vehicles to people, to marketers who prey on fear and toxic masculinity to sell , and to everyday people who perpetuate the myths and fear, teasing and mocking their fellows who might have chosen a smaller vehicle. So here we are, barely a small vehicle to be bought and all maxed out on credit to drive the biggest rig we can. Well interest rates are headed up, gas is only going to get more expensive and suddenly that big rig with the the big operating cost shouldn't seem like such a good idea.
I'm in the process of buying a car right now and ended up with a Rav4 because it would take six months to get a Camry, it sucks.
It's the mortgage and other loan interest rates that I'm meaning to allude to here. People facing a 30% increase in mortgages or rent might find that shelling out for that expensive car, it's maintenance and operation isn't as tenible as it was a year ago. That's the whole point of those rate hikes, to stop us buying everything else and push price growth back in line.