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Iso
by AustinC. 05/21/24 05:01 PM
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Re: Used 4x4 trucks...
[Re: Goatkiller]
#2588636
09/24/18 09:06 AM
09/24/18 09:06 AM
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Joined: Nov 2011
Posts: 21,805
USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,805
USA
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Here is what happened.
Economy Crash
Auto Manufacturers Go Broke
Taxpayers Bail Them Out
Economy Sluggish - Hard to sell new cars
Financing Terms go from 60 months to 72 months to 84 months to......lowers monthly payments
Economy Improves
Vehicle Prices Rise - because monthly payments have a lot of room to rise due to 84 month financing terms.
You can take a truck that cost $40K financed over 48 months or $65-70k financed over 96 months and roughly you have the same monthly payment
They hosed us as consumers. At one time I don't think banks would even make a car loan over 60 months.
....and everyone is underwater on cars they can't even remotely afford. A $50k truck for a guy that makes $50k would be laughable if it weren't so reckless. I guess we'll all pay for his retirement, because he won't be supporting himself...
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