←back to thread

The $25k car is going extinct?

(media.hubspot.com)
319 points pseudolus | 2 comments | 29 Jun 25 15:59 UTC | HN request time: 0.42s | source
Show context
denkmoon ◴[30 Jun 25 01:14 UTC] No.44418208[source]▶
welp, guess my corolla needs to last until I die. I spent about $9k usd (in australia though) on it second hand pre covid and I'm just gobsmacked at the prices of vehciles now even years post covid. I make good coin and I just can't see how non-"enthusiasts" can justify spending so much money on their vehicle. there are houses in my suburb with 3-4 of these expensive, new model cars out front.
replies(3): >>44418360 #>>44418393 #>>44418928 #
1. aprilthird2021 ◴[30 Jun 25 01:39 UTC] No.44418360[source]▶
If Australia is like the US, all those cars are leases or debt-financed
replies(1): >>44418975 #
2. nikcub ◴[30 Jun 25 03:21 UTC] No.44418975[source]▶
It is. From Australia's largest Toyota dealer I know that ~70% of new car sales are financed. A proportion of the rest would be funded by home equity but that is harder to measure.

An interesting trend that I've heard from multiple dealership (friends and family) - the number of people being rejected for financing has dramatically increased in the past 12 months. There are some dealership areas now where a third of applicants are being turned down.