32% of used car trade ins are underwater

[MCompact]

Originally Posted By: javacontour


When some do-gooder wants to spread the consequences to others, then I have a problem.



I agree; I draw the line when someone expects me to subsidize the consequences of their poor choices. Just recently I read an article that bemoaned the fact that people with poor credit pay more for car loans. My only thought was, why shouldn't they?

 

[javacontour]

Then do something that provides value.

My salesman who sold us the RAV4 earned his money. Due to how Toyota has regions and each region determines option packages and such, he figured out how to get us the RAV4 we wanted in IL.

Turns out, the region including IL didn't let you order an XLE with the Tech package. They wanted to sell Limited, which oilBabe didn't want because she doesn't like leather seats.

He put together a dealer trade with a dealer in another region to get us the RAV4 we wanted.

That's earning your money and providing value.

Maybe spraying on some Scotchguard and pin stripes isn't providing real value.

We would buy from him again.

Originally Posted By: Mr Nice
Java,

Don't forget these sales folks sometimes work 70 hours a week.

They are on commission and don't care if customers can't afford vehicle with 72 month financing. That's not the sales person problem. Their job is just to sell, sell, sell.

Lots of people make impulsive large purchase decisions without stepping back and evaluating their financial situation.

 

[PandaBear]

Originally Posted By: Quattro Pete

I hear ya. I get the feeling most modern cars are built to be replaced, not repaired. They've gone the way of appliances and high tech gadgets. If your TV breaks, are you going to repair it? Heck no. You are just going to get a new one.

The cars have become so complex and so technology laden that a break down just gives people the opportunity to consider upgrading to a newer vehicle with the latest tech gadgets. The basic drivetrain mechanics might still be working fine, but the associated electronics and creature comforts will either fail or become outdated, and fixing that stuff would require a large one-time payment for which a typical American has not budgeted.


Depends. If you are in an accident bigger than a fender bender, the car is very easy to get totaled. By totaled it doesn't mean it will be crushed, just that it may not be worth fixing in the US, so it will be exported as is to 3rd world along with the usual suspect of junk yard parts in the same container, and be fixed for the 3rd world 2nd life.

It is very hard to "repair" anything when labor is $100-200/hr in auto repair.