Couldn't agree more, I have said this for about 2 years now. The car and truck market has went crazy because people are ok with financing their car for twice as long as it takes to earn a college degree!It has nothing to do with making 100K a year - its about making people who can't afford it car debt slaves for the next 8 years. I heard on the radio the other day some kia dealer promising anyone making $450.00 a weak was "guaranteed" $30K in financing. Google subprime auto loans if you don't believe me.
BTW - I am one of those people making 100K a year, and I refuse to pay 40K for a taco, or whatever. The key to accumulating wealth is more about how little you spend, than how much you make. My 2008 Xterra, which I bought new, now has 283,000 miles on it and I like it fine.
Who cares about the total cost when you are only looking at the payment. I on the other hand was happy buying used and paying cash.
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