Americans can’t afford their cars any more and Wall Street is worried

https://lemmy.world/post/37630345

Americans can’t afford their cars any more and Wall Street is worried - Lemmy.World

If only we had invented and built some sort of alternative mode of collective transportation. Maybe it could be in tunnels and ride on metallic rails. It would serve many people and make periodic stops to the same locations instead of the highway clusterf- we have today. Sad that we don’t, but a man can dream though. A man can dream though. A man can dream.

Buying a new vehicle hasn’t made sense for about 30 years now.

I’ve been driving for about 30 years and in all that time, I’ve never owned a new vehicle. I kept buying used vehicles for about $2,000 - $3,000 per vehicle. The oldest one I’ve ever had is a 2004 Volvo station wagon and I still maintain it and it’s still running as one of my main vehicles. My other main vehicle is a 2010 GMC Truck which I also maintain. They don’t look new, they show a bit of rust around the edges, but they are still very good vehicles that will last several more years.

Once they break down enough … I’ll buy another used vehicle. In all, over the past 30 years, I’ve spent about $30,000 on multiple vehicles (I think I’ve gone through 8 or 9 in that time).

It has never made sense to me to buy a brand new $40,000 car that will only be used for about five years before you buy the next one.

I’d really like to know where you are buying 15 year old GMC trucks for $2000-$3000 that presumably run and aren’t beat to shit.
I bought it when it was ten years old and from a friend of a friend who was selling it privately. The only real way to grab a good vehicle is if you know of someone who had a vehicle from new. It’s just constant searching and luck that one is able to find vehicles like this. The guy I bought it from had it from new and took care of it and by the time I got it, it had minimal rust. He knew the truck’s life was limited which is why he wanted to get rid of it. As soon as I took hold of it, the rust started growing on the damned thing and I’ve been fighting to keep it going and away from any further rust as possible. The engine and transmission are good and will last a very long time, its just the rest of the truck, especially everything from the wheel wells down (minus the engine and transmission) that will fall apart first.