Thread: The strongest economy in the world

"Americans can only afford used cars," said Louis Hyman
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The thing is, the "used cars" available now are not your father's "used cars." Why anyone still feels the need to drive a virgin automobile off a lot- does losing 40% (bare minimum) of what you just spent actually feel that good? When you can buy a two-year-old car that has been meticulously cared for and lose only 15% when you drive it away?

The problem Americans have is their economy is maturing ahead of them.

Originally Posted by FloridaBorn

Originally Posted by robuzo

"Americans can only afford used cars," said Louis Hyman
---
The thing is, the "used cars" available now are not your father's "used cars." Why anyone still feels the need to drive a virgin automobile off a lot- does losing 40% (bare minimum) of what you just spent actually feel that good? When you can buy a two-year-old car that has been meticulously cared for and lose only 15% when you drive it away?

The problem Americans have is their economy is maturing ahead of them.

Exactly!! Not only a 2 year old car but a much upgraded car from what you may be able to buy new. I'd say if done right, that if you do some choice things in updating under your ownership you could in essence even recover that 15% by at minimum holding it's value while you still get the usage out of it.

I could have always bought a new car, but chose something 2 years old or so.

The cost of owning, maintaining and operating a vehicle in the US is ridiculous in reality for many and definitely ridiculous based on principle.

25 years ago my mates were paying car loans. They still pay car loans to this day.