An Auto Loan Debt Crisis Looks Imminent

Lee Duna@lemmy.nz to News@lemmy.world – 276 points –
An Auto Loan Debt Crisis Looks Imminent
automoblog.net
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Shitty econboxes don't exist anymore

Shit, entry-level cars still run you $20k or better in the US, and that's without any options. I just had to price a new car last year and literally nothing new was on the market in my area for less than $25k. Your old Toyota Tercel that you bought for $6k in the 80s doesn't exist anymore. That brand-new Camry that'll run for 30 years and only costs $12k is now double that, at least.

I got a 2023 Hyundai Elantra Limited with all the options for $27,000 earlier this year and that was brand new. The standard/base Elantra was several thousand less. There was another model below the Elantra for even less. I also didn't haggle and took the price as marked, so who knows. Perhaps someone more charismatic than myself could have done better on it.

I still over paid, don't get me wrong. The same car with all the features before Covid would have probably been around $22-23k.

*in the US, because we've all got tiny-penis trucks

Shitboxes are the bread and butter of car companies in modern countries

the last gen Aygo was 10K€ new.

the current gen Aygo "X" crossover SUV replacement is 16K€.

i would have bought one.

sad to see toyota of all companies to stop making small cars.

This is just an anecdote, not a defense or counter argument by any means. Somebody around me has figured out how to import what I think is a Suburu Sambar. It's a micro suv/truck, and I've seen more than three around my area suddenly. I've also seen a couple of right hand drive skylines all of a sudden, so I don't know if something has changed, but maybe importing is an option

You can import cars 25 years after they've been released.