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 have two cars. An Audi and Tesla. Each one is about 1K per month. The Audi is an A5 and the Tesla is a Model 3.
Both have interest rates below 3%. Neither is that “high” end of car.
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.
Care rates are around 8-10% right now for most people. That is insane. I bought my Tesla before the pandemic back when rates were low. I bought my Audi recently and I have good credit. It was going to be 7% ut they had a special rate of 2.99%.
The interest rates are killer for the average person and until inflation is under control, they will keep going up.
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.
I have two cars. An Audi and Tesla. Each one is about 1K per month. The Audi is an A5 and the Tesla is a Model 3. Both have interest rates below 3%. Neither is that “high” end of car.
Yeah, car prices have become insane.
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.
Care rates are around 8-10% right now for most people. That is insane. I bought my Tesla before the pandemic back when rates were low. I bought my Audi recently and I have good credit. It was going to be 7% ut they had a special rate of 2.99%. The interest rates are killer for the average person and until inflation is under control, they will keep going up.