A good 50% of the vehicles I see on the road are "new" (<3 years old). It is almost certain the drivers have less income than I do. What the hell?

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financing a depreciating asset

They can't even keep up appearances; i.e. I see luxury cars with accident damage driving around b/c they can't afford to fix them.

I have never financed a vehicle and every used vehicle I have purchased (with cash) I have sold for +/- 10% of what I bought it for, because I improve them. Never paid more than $5000 for a car.

> financing a depreciating asset They can't even keep up appearances; i.e. I see luxury cars with accident damage driving around b/c they can't afford to fix them. I have never financed a vehicle and every used vehicle I have purchased (with cash) I have sold for +/- 10% of what I bought it for, because I improve them. Never paid more than $5000 for a car.

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[–] • 1 pt

That's just a credit bubble. It will change if the interest ranges normalize. The next debt crisis will likely be worse than the last.

link

/s/Whatever

created ago

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