Re:The 'Buy Now, Pay Later' Bubble Is About to Burst
by Sevii on Friday January 13, 2023 @09:45AM
(#34368376)
The issue is that financing changes what is available in the marketplace for you to buy. There are cheap new cars that don't break down every year (ex. toyota hilux) that are not sold in the US. Because it's more profitable to finance you a 50k truck than a 20k truck.
The housing market works the same. If we didn't standardize fixed rate mortgages houses would be cheaper smaller and more available.
Re:The 'Buy Now, Pay Later' Bubble Is About to Burst
by ericpauley on Friday January 13, 2023 @10:54AM
(#34369492)
The Toyota Tacoma is pretty comparable to the international Hilux aside from powertrain (gas vs diesel) and a very small size difference. In theory you could probably get one for $30k.
Re:The 'Buy Now, Pay Later' Bubble Is About to Burst
by flextheruler on Friday January 13, 2023 @02:20PM
(#34372560)
I’ve always heard new cars are far more expensive in Europe at least Germany. You have sources?
However some big things make sense to finance.
Take your car example: I'm not rich enough to buy a car that won't break down every year (I know, I tried).
However, when my car breaks down, I can't go to my clients and I lose money.
In this case, it makes sense to rent out a car that's going to be working properly, and with guarantees in case it doesn't.
However yes, I wouldn't buy a toaster in multiple payments...