Americans are more underwater on their car loans than ever before

return2ozma@lemmy.world to News@lemmy.world – 106 points –
Americans are more underwater on their car loans than ever before
qz.com
32

You are viewing a single comment

When cars that should cost $20-30,000 now cost $40-60,000, that'll happen.

That'll happen as long as people keep buying them.

It's less the demand and more the greed of car companies and the shittiness of the products.

Companies are, and always have been greedy, that's the point of their existence. They didn't decide one day to become greedy. They will always maximize profits, always. You should more blame inflation than anything, it's by far more damaging to your spending power and savings than anything else.

That'll happen when the Federal Reserve prints more money and devalues the currency every year.