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Hell yeah! 180 month loans when the average car msrp is $50,080 and climbing. Crapitalism truly is the "You will own nothing and be happy." ideology. (hexbear.net)
submitted 10 months ago* by to c/chapotraphouse@hexbear.net
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But don't worry, you will be at moderate risk of the car breaking down before 10,000 miles and you can't fix the part because it has been deliberately engineered so that mechanics can't fix it and it has to be replaced.

https://xcancel.com/unusual_whales/status/1987985187918192870

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[–] 13 points 10 months ago (3 children)

i mean, with current apr, 30 or 50 years doesn't change that much shit deal no?

plus developers would just immediately increase prices even if apr came down.

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  • [–] 10 points 10 months ago (1 child)

    That estimate assumes there'd be a one-time 40% decrease in mortgage/down payment costs, then prices grow at the same rate they've been growing.

    It could very well be overly optimistic. I did say it was jank.

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  • [–] 9 points 10 months ago* (last edited 10 months ago)

    but is it kinda rolling credit, so first years are devoted mainly to paying interest anyway, so it doesn't matter much that principal is spread out longer, the first year apr hard restricts you anyway (that say on 300k home you have to at least be able to pay say 21k in interest with 7% apr, independent of 30 or 50 years + principal a little bit, that part dependent) (without going into calculators, vibey based it would be like 8k vs 6k +21k, 7% drop or some shit)

    which, assuming my vibey estimates in correct ballpark, the market will fuck in 2 years of rises as is.

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