Re:The Seven-Year Auto Loan (2019)
by manfredo on Friday February 07, 2020 @03:51PM
(#22270793)
As the used car market dries up, the price of used cars goes up. This increases the resale value of new cars, which lowers the net cost of buying a new car (because you will get more when you resell it). And the reality is, there's no shortage of used cars in America.
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Which is interesting because US automakers pushed planned obsolescence as a way to reduce the used car market to lower the net cost of buying a new car.
That's a relatively new phenomena, quite the opposite was true until about a decade ago.