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$1,000 car loan payments are on the rise, stressing household budgets (www.cnn.com)
submitted 8 months ago by to c/aboringdystopia@lemmy.world
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[–] 2 points 8 months ago (5 children)

And they burn $3-5K less gas, and cost less to insure. This is the 5 year math everyone should do but nah, people buy cars on childish impulses.

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  • [–] 4 points 8 months ago* (4 children)

    Not justifying these people but there are legitimate reasons some people can't buy the cheapest possible car, like family size and capacity needs.

    I own a subcompact because we're a family of 3 with a small to mid sized dog. We live in a very urban area so the smaller car is definitely a boon in most cases.

    We also have access to decent to very good public transport and a relatively bike friendly area.

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  • [–] 3 points 8 months ago (1 child)

    Yeah it's completely fair to buy a wagon or a minivan with a bigger family or other needs, I have a 13k Kia Ceed SW because of family and hobbies.

    But light truck SUVs are not "family cars", they're thrice the size with similar or smaller cargo capacity

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  • [–] 3 points 8 months ago

    What's crazy is that a mini van is so nice but so many people will go "eww" and demand a ln SUV.

    So even if you need a big vehicle, a minivan is expensive, but not so much as the three row SUVs people will demand (and the SUV will get worse mileage).

    I will grant that if you need to tow a lot, then an SUV becomes the viable option for decent size and towing capacity, but most folks don't do that.

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