Proles struggling with car payments (NYT)
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Date: March 21st, 2026 8:59 PM Author: pontificating location background story
An $830-a-month car payment. Auto insurance for $280 each month. Thousands more for tire and maintenance repairs.
For almost three years, those bills have followed Davine Greene, a nursing student who hasn’t missed or been late on a payment since buying her Kia K5 GT in November 2023. But keeping up with the payments has driven up her debt to more than $80,000, not including student loans.
Last week, she filed for bankruptcy to escape the burden, she said.
“This car is the bane of my existence,” said Ms. Greene, 24, who lives in Fort Lauderdale, Fla. “Probably the worst decision I’ve ever made, like, financially speaking.”
https://www.nytimes.com/2026/03/16/business/car-ownership-prices-interest-rates.html
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49760411) |
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Date: March 24th, 2026 6:00 PM Author: Coral Senate
Yes, you need to negotiate all dealer add-ons to zero to get as close to invoice as possible.
Never do a trade in with the dealership. Or maybe have them give you an appraisal and even bring the title and show the salesman, but then at the last minute pull your trade in and be like I'm going to walk from this deal, get me my car back. Then ask if they can match the out-the-door price they gave (assuming trade in) if you make up the difference with cash.
Always be able to walk. And when I say walk, I mean walk.
You can't do this at all with Toyotas or other "in" cars. And certainly not with luxury models or sporty models that are status symbols. You need to find models that aren't as popular and that won't have as strong a resale value if you want to get them down on price. But in the long run, if you're just trying to buy a car, it's always a smarter choice to drive what is decent and boring and NEVER EVER EVER drive what is popular or seen as trendy.
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49766068) |
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Date: March 24th, 2026 10:35 PM Author: cordovan adventurous pit mother
if you cap interest rates then average payments will go down because non-credit worthy people like $800/mo kia girl will not be able to obtain financing. i think her not being able to finance a car is less cruel than allowing her to be fleeced at usurious rates.
you said automakers would just raise msrps to compensate. i disagree. automakers cannot recoup loss from lower interest rates by raising msrp because they cannot force people to finance through them. if two cars cost 30k, one cannot raise the price to 35k so that they can offer low rates to shit borrowers because the majority of the market that is credit worthy will buy the 30k car.
you're basically talking about frontloading interest in the cars principal. automakers couldnt do this. and, if they devised a way, it could be regulated away. charging usurious interest by fraudulently frontloading it in the principal is something that happened when usury was a thing too. it would be like allowing a mortgager to charge customers points to pay down the rate cap and calling it the origination fee. they're still charging the usurious rate, they're just hiding the money somewhere else.
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49766964) |
Date: March 23rd, 2026 10:39 PM Author: Hairless parlor
After splitting time between Las Vegas and Texas, he settled in Houston in 2023. But he had hourlong work commutes and was driving for DoorDash and Uber for extra income, which quickly raised the gas bill and mileage on his 2016 Chevy Sonic. He is also holding on to a 2015 Chevy Camaro.
Mr. Rhodes has decided to pause his ride-hailing and delivery work and is focusing only on hairstyling.
“I remember being younger, and you could just buy a car outright and keep it rolling,” Mr. Rhodes said. “Now there’s these high payments. It’s just crazy.”
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NYT is just "Daily Mail for Libs" at this point, pretty solidly disguised ragebait. "Why doesn't this fucking NIG-I mean, down on his luck citizen just sell the Camaro?" the lib wondered to zhimzelf.
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49764109) |
Date: March 24th, 2026 9:35 AM Author: bearded half-breed
Angelica Akins, 32, works late-night shifts as a certified nursing assistant while raising five children. Early last year, the engine of her 2011 Chevrolet Equinox died. Without enough savings or the credit score that dealerships required, she put off buying a car and temporarily turned to ride-hailing services to get to work.
The rides cost her around $1,000 a month, with her commute taking about two hours round-trip from her apartment in Grand Rapids, Mich., to her job in Saginaw. Ms. Akins picked up extra shifts to keep up with her expenses while saving for a car. But the daily Uber costs added up, and she managed to save only about $2,500 — less than half of what she desired.
“You never know how important things are until you lose them,” she said.
Ms. Akins recently moved back in with her mother, leaving the neighborhood and home she loved to cut back on her $1,400 monthly rent and shorten her commute to 30 minutes, making it easier to share rides in her mother’s car or find cheaper trips.
***
Her: 32. A fucking CNA (like the entry level of nursing). FIVE. CHILDREN.
U: 40. JD. Can't afford a kid yet, maybe in a couple of years.
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49764653) |
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Date: March 24th, 2026 5:01 PM Author: self-centered hateful theater stage immigrant
I am a car nut and trade in and out of cars with some frequency. Though I am always a cash buyer. If someone is in such dire straits that they need as cheap a car as possible, they aren't looking to buy this car and keep it for a decade. They just need something to keep them functional while they get their act in order.
And even then, there are plenty of Craigslist specials to be had. Here's a cool ass Honda Accord for less than $7k. https://newyork.craigslist.org/wch/cto/d/yonkers-2014-honda-accord/7922966981.html
As another poaster said, you are greatly underrating the reliability of more recent cars. Especially mass market vehicles like the Camry, CR-V, RAV4, etc. And age of the vehicle matters less than miles and maintenance. And these cars are not complicated to maintain.
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49765977) |
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Date: March 24th, 2026 4:53 PM Author: vivacious godawful temple
You're using old boomer logic from back when cars were unreliable as fuck and rarely made it past 100k miles, and didn't make it to 50 if you didn't maintain properly.
Cars from the past 15 years all easily hit 200k even with shitty maintenance. Even the shitty ones.
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49765948)
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Date: March 24th, 2026 4:57 PM Author: self-centered hateful theater stage immigrant
I understand your point. But people's incomes have also risen. And even though incomes haven't kept pace with inflation, there is a gigantic universe of reliable used cars on the market at any time for under $15k.
And they can still be financed for 5+ years at which point the monthly payment could be less than $250.
(http://www.autoadmit.com/thread.php?thread_id=5848415&forum_id=2\u0026mark_id=5310751#49765963)
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