H
Heisenberg
Guest
I agree that accounting for inflation - the raw prices don't look so bad.
But I again say - that in the main - wages and incomes have not increased at that rate.
They have been flat, more or less, for 20 years.
Not individual persons - but overall.
There has been a pretty hard squeeze on incomes or expenses to be exact with increased costs for basic necessities like food, utilities, health care costs (uggghh); college tuitions (another ugghh) etc.
That's why I still look at folks who sign up for 40, 50, or 60K on 72, 84, 96 months and think they are nuts.
JayJ - you might have had a $400 payment - but for what term?
I'll bet 48 months back then.
Which is reasonable.
I only once had a car loan that was 48 months.
All my others were 24, then 36 months
I remember when they came out with 48, and I thought...hmmm
Then 60 and thought - dayum
Then 72 and holy shit shock set in
I think they do even longer now.
It's insanity.
Which is why most people borrow cars- i.e. = lease.
Another weapon of mass financial destruction.
But I again say - that in the main - wages and incomes have not increased at that rate.
They have been flat, more or less, for 20 years.
Not individual persons - but overall.
There has been a pretty hard squeeze on incomes or expenses to be exact with increased costs for basic necessities like food, utilities, health care costs (uggghh); college tuitions (another ugghh) etc.
That's why I still look at folks who sign up for 40, 50, or 60K on 72, 84, 96 months and think they are nuts.
JayJ - you might have had a $400 payment - but for what term?
I'll bet 48 months back then.
Which is reasonable.
I only once had a car loan that was 48 months.
All my others were 24, then 36 months
I remember when they came out with 48, and I thought...hmmm
Then 60 and thought - dayum
Then 72 and holy shit shock set in
I think they do even longer now.
It's insanity.
Which is why most people borrow cars- i.e. = lease.
Another weapon of mass financial destruction.