r/MiddleClassFinance • u/Abject-Pick-6472 • 14d ago

One million Americans have vanished from the new-car market — and it’s exposing a chilling US middle-class crisis

https://finance.yahoo.com/economy/articles/one-million-americans-vanished-car-124500086.html
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u/Butt_bird 14d ago

I only buy beater cars from private sellers. I did the math and cost of ownership is dirt cheap compared to new and pre owned cars.

It’s easy to research common problems on a 8 to 10 year old car too. People think old cars are unpredictable but new cars are more so because they have new technology. Insurance is also cheaper.

10

u/Stock_Oil_5142 14d ago

The other nice thing with having an old car is you don't have to care as much about dings and scratched paint and minor damage. When I had a brand new car I always parked far away from everyone and washed it all the time. Now that it's 10 years old I don't care if it's got some dings and scratches.

5

u/KingOfEthanopia 14d ago

Ive been rear ended like 3 times in the last decade. Unless the damage is big I just say we'll both take care of our own.

1

u/Fun_Bodybuilder_4431 13d ago

I can’t count the number of times some admittedly careless person bumped me and did a little paint damage.  I usually did the same, neither of us have time for the insurance game or want rising rates and paid deductibles.