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The $25k car is going extinct?

(media.hubspot.com)
319 points pseudolus | 3 comments | 29 Jun 25 15:59 UTC | HN request time: 0.66s | source
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paxys ◴[29 Jun 25 20:52 UTC] No.44416339[source]▶
One fact not mentioned in the article - Americans now owe $1.64 trillion in auto loans, and cars make up 9% of all consumer debt in the country. In fact we now owe more on cars than student loans. The average loan term is rising - almost 6 years now. 60-day delinquency on auto loans is at 6.6%, the highest ever recorded, and is as high as 9% in some states.

So while car prices keep going up, people also keep going deeper into debt to buy one they can't afford.

You can blame manufacturers or banks, but ultimately the problem is unchecked consumerism and treating cars as a status symbol, which is sadly pervasive in this country.

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1. arwhatever ◴[30 Jun 25 02:01 UTC] No.44418474[source]▶
Occasionally see pizza delivery signs atop super duty trucks where I live.
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2. silisili ◴[30 Jun 25 06:34 UTC] No.44420137[source]▶
In the rural midwest, it's extremely common to see dumpy trailers with one or two 75k new super duties parked outside.

I don't get it at all, and thought "well, maybe they didn't have a choice and needed it for work?" before realizing any old used truck would probably work as well(if not better).

I have to say it's a status symbol, a weird one at that. I'm more in awe of rat rods and fixed up old trucks than brand new ones, YMMV I guess.

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3. defrost ◴[30 Jun 25 06:45 UTC] No.44420209[source]▶
There's a rural mindset some have that looks outside at the world not inside at the house.

A dumpy trailer where you sleep is fine as long as you have .. a good horse, freedom to roam, a powerful truck to tow horses, .. etc.

eg: https://www.youtube.com/watch?v=pHJFfSmnCnY prefer the sky and land to a good house in the city.