this post was submitted on 08 Nov 2023
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[–] malloc@lemmy.world 58 points 2 years ago (2 children)

The shift towards massive vehicles (SUVs) and trucks loaded to the tits with tech junk is to blame. Auto industry sold the idea to Americans that their fat ass needs a compensator instead of psychiatric help.

[–] Pasta4u@lemmy.world 8 points 2 years ago (5 children)

Nah.

It's poor planing and over spending that is the issue. People who lease cars are on an endless cycle of never owning anything and always laying a premium.

Just actually buy a car you can actually afford.monthly payments on and drive the car into the ground. Every car in have owned has made it at least a decade and a 150k miles. Once you are done paying off take what the monthly payment would be and out it into two banks account split 20/80. Woth the 80% being towards a new car and the 20% being for repairs.

[–] TenderfootGungi@lemmy.world 15 points 2 years ago (1 children)

My wife’s Honda has over 300k and still runs fine and doesn’t use oil. We put $10k aside for an emergency down payment, but every month it keeps going we are a few hundred dollars wealthier.

[–] Sparlock@lemmy.world 9 points 2 years ago (2 children)

I laugh at my buddies who constantly need to have new vehicle.

Too many see their car as a measure of their worth.

Funny thing is my wife bought herself a beat up 1980 squarebody pickup for hauling stuff around the farm and you cannot take it out anywhere without people stopping to comment it and she only paid 4k for it.. Hell, we have near weekly offers from strangers to buy it off of us at a premium. I want to emphasise it is not some pavement princess it has whiskey wrinkles from past owners and plenty of rusty bits.

[–] Raiderkev@lemmy.world 4 points 2 years ago (1 children)

I have a similar truck. It's great for hauling junk around. I've had it since college. It used to be my daily driver. Now I have a commuter car, but I use that for errands. The thing is a tank. I also get notes on it all the time. I paid $500 for it 10 years ago. People have offered me $10k. It's very tempting, but I love that truck.

[–] Sparlock@lemmy.world 2 points 2 years ago

Yea, I don't think there is a dollar amount that would make my wife sell hers.

[–] CADmonkey@lemmy.world 3 points 2 years ago* (last edited 2 years ago)

whisky wrinkles

Love it.

I have a most similar vehicle, a battered 12 year old F150 that started life as a Menard's rental truck. The most notable feature about it is that it's a long-bed, single cab truck that isn't white. People who ride in it are either confused or enthralled with it's lack of whiz-bang features. There are no power windows, no power locks, no keyless entry, no color touchscreen infotainment center, no CD player, and no carpet. It's not driven every day because motorcycle, so it should hold up a long time.

[–] orrk@lemmy.world 8 points 2 years ago (1 children)

poor planing

well you got the poor part right

[–] Pasta4u@lemmy.world 3 points 2 years ago

Buy what you can afford.

[–] dan1101@lemm.ee 6 points 2 years ago* (last edited 2 years ago) (1 children)

Exactly. I like cars so it starts to suck keeping them for 10 years but otherwise I'd be in continual car payments.

Also taxes and insurance get cheaper as the car gets older too, so that helps.

[–] Pasta4u@lemmy.world 1 points 2 years ago* (last edited 2 years ago)

Yup. We run two cars since we both commute for work but one is fully paid off and the other one is almost done. They payment for the first one is now going into a repair account for it and a down payment account.

The reason we haven't paid off the other car is because we had 0% financing. So the money going into the ally account is making us money vs the bank having it.

We also have a gm card and both cars are gm. So we should have several thousands to redeem on that towards a new down payment.

[–] surewhynotlem@lemmy.world 3 points 2 years ago (1 children)

Name a person you know who over spends like this.

[–] Pasta4u@lemmy.world 6 points 2 years ago

My brother in law and sister in law. They have two brand new leases and a house they can't afford and have been borrowing money from my in laws to keep afloat.

Lots of people over spend this way. I had a friend who was making $700 a month payments on a used Mercedes suv as a new teacher.

Lots of people over spend on dumb shit.

[–] QuarterSwede@lemmy.world 7 points 2 years ago

Auto industry sold the idea to Americans that their fat ass needs a compensator instead of psychiatric help.

True or not, that got a good belly laugh out of me.