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HokieForever

Joined: 10/06/1998 Posts: 17376
Likes: 6550


That's why I disagree with that article (somewhat)


yes we all don't need to go out and buy new cars with 70 month loans, I get it and makes sense. However, people are keeping their cars longer, I read an article the average age of a car on the road is 6,7,8 years old? Add to that most cars can go 100K with just oil changes, brakes, and tires, and nothing else. So dealerships don't make money on fixing things like they did in the past and oil changes, etc. are not exactly money makers and you can only get so many of those done in a day.

As such, car manufacturers have had to figure out how to keep making money and stay in business which is increasing car prices.

My wife and I did own two Toyotas until recently, both over 150K in miles one was a 2007 and one was a 2009. We had "sticker" shock when we went to buy a new car. 40K for a Toyota Avalon? 35-40K for a Toyota Highlander, didn't pay that much but still.

I would rather have a longer loan at a higher price for a car that last a long time vs. a shorter loan, smaller price, for car that could potentially break down after 60K miles.

HokieForever

(In response to this post by HokieDan95)

Posted: 10/02/2018 at 12:55PM



+1

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