Forum Discussion
Charlie_D_
Aug 13, 2016Explorer
I don't believe they are more affordable as much as I believe that emotions play a major factor in decision making. Who doesn't want to show the neighbors, friends and relatives a new overpriced truck? After a few weeks and they realized they have financed a new vehicle for 6/ 6 1/2 maybe 7 years at the price of a house from 1993. See lots of late model trucks on dealers lots. Lots are full of 1/2 and 3 year old trucks loaded with every luxury. Does some of them mean that they have awakened and realized they can't afford them.
Saw a local "For Sale" site the other day. Young lady had a 2012 Chrysler 200 for sale. Said she was pregnant and needed a larger car. Said she owed about $24,000 and hoping to get a couple of thousand equity. A person says he was in the car business and to trade it in and take her loss and roll it into the price of another car. He said salesman convince people to pay too much, pay too long and end up in debt. My FIL had a Mercury Grand Marquis that was bought used and financed it as long as he could. IIRC correctly he still owed several years on it. Couldn't drive anymore and the Blue Book showed he was $6800 up side down. He parked it and eventually it was towed from his house. Note was sold several times. He went into a nursing home and we received letters and phone calls demanding payment and then letters of reductions in amount owed if paid now. They finally gave up after several years after I told them several times he was deceased.
Saw a local "For Sale" site the other day. Young lady had a 2012 Chrysler 200 for sale. Said she was pregnant and needed a larger car. Said she owed about $24,000 and hoping to get a couple of thousand equity. A person says he was in the car business and to trade it in and take her loss and roll it into the price of another car. He said salesman convince people to pay too much, pay too long and end up in debt. My FIL had a Mercury Grand Marquis that was bought used and financed it as long as he could. IIRC correctly he still owed several years on it. Couldn't drive anymore and the Blue Book showed he was $6800 up side down. He parked it and eventually it was towed from his house. Note was sold several times. He went into a nursing home and we received letters and phone calls demanding payment and then letters of reductions in amount owed if paid now. They finally gave up after several years after I told them several times he was deceased.
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