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Americans Are Taking Out Ridiculously Long Auto Loans

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Regular Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans

Um we are up against the American marketing machine that is much stronger than we are. American culture promotes buy now pay later. Live lavish and for the day who cares about tomorrow. Also people are often judged by what is perceived they have, so if someone pulls up in a hooptie the treatment resulting from it may not be that favorable. Prime example. If I go into Neimans all decked out in Chanel the sales people are all over me. Alternatively if I go to Neimans with a headscarf on my head and basic clothing I may not get any attention at all. 

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Message 11 of 73
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Super Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans

Well, let me say this about that ...

 

It seems that the "cool" ride right now, at least around here, is the Jeep Wrangler. New, they cost $40K-55K, depending on model/options. They ride very bumpy, like a truck, are cold inside in winter, and hot inside in summer, top-heavy and prone to roll over. Only redeeming factor is ability to handle slick conditions and hills. We have maybe 2-3 weeks of snowy roads here per year, so not that big of a deal. A nice front wheel drive vehicle will handle that fine.

 

But, the Jeep Wranglers are everywhere right now.

 

Image is everything.

Message 12 of 73
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Community Leader
Super Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans


@kilroy8 wrote:

Well, let me say this about that ...

 

It seems that the "cool" ride right now, at least around here, is the Jeep Wrangler. New, they cost $40K-55K, depending on model/options. They ride very bumpy, like a truck, are cold inside in winter, and hot inside in summer, top-heavy and prone to roll over. Only redeeming factor is ability to handle slick conditions and hills. We have maybe 2-3 weeks of snowy roads here per year, so not that big of a deal. A nice front wheel drive vehicle will handle that fine.

 

But, the Jeep Wranglers are everywhere right now.

 

Image is everything.


So that's why they're so darn expensive! I saw a beautiful white one on a Used car lot earlier this year; and silly me thinking it would be around $15K went inside to ask. You could have bought me for a nickel when the salesperson said it was $32K. It was a 2017 Jeep Wrangler Rubicon. Yes, it had all the bells and whistles, and low mileage but still--it was used!


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Message 13 of 73
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Valued Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans

It's a Jeep people.....come on you don't honestly expect them to be 10k or less........They are along the lines of SUV's and no one blinks twice when an SUV is 30+k ......that's also being like I want a Mercedes but I don't want to pay 30+k for it ....just be smart and practical with what you buy/Need.










Message 14 of 73
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Valued Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans


@FrenchFico wrote:

Alternatively if I go to Neimans with a headscarf on my head and basic clothing I may not get any attention at all. 


Exactly : This is why I shop in a t-shirt and jeans.

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Message 15 of 73
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Community Leader
Senior Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans

^^^ exactly. Not that I wear Chanel but I’d rather not be pestered. Leave me alone and if I need something, I’ll ask.


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Message 16 of 73
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New Member

Re: Americans Are Taking Out Ridiculously Long Auto Loans

You're not kidding. I live in Middle Tennessee and Jeeps are literally crawling all over the place. I understand it's cool to take off road or ride with the doors off on a hot weekend but you're nuts if you daily one with mud tires on it. The fuel cost alone makes me cringe.
Message 17 of 73
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Valued Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans

It's the marketing machine, it's people being clueless about their financial situation, and it's also people having no patience for maintenance and repairs.

 

I work with a girl whose probably 2012 Explorer needed a few, few hundred $ repairs in the course of a year, and her and her husband rushed right out and leased two brand new SUVs.

 

Meanwhile her paychecks are being garnished by her student loan servicer. 

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Message 18 of 73
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Super Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans


@SteelerNYC wrote:

It's the marketing machine, it's people being clueless about their financial situation, and it's also people having no patience for maintenance and repairs.

 

I work with a girl whose probably 2012 Explorer needed a few, few hundred $ repairs in the course of a year, and her and her husband rushed right out and leased two brand new SUVs.

 

Meanwhile her paychecks are being garnished by her student loan servicer. 


SMH Smiley Sad


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Message 19 of 73
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Community Leader
Senior Contributor

Re: Americans Are Taking Out Ridiculously Long Auto Loans

@SteelerNYC, is it clueless about their situation or denial of it? Most know where they stand but many will still far overspend their means in order to keep up appearances...


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Message 20 of 73
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