People fighting over new cars while older used cars languish on the market

[billt460]

I think your definition of "can afford" and mine are different. How many people today buying new can do so without financing for 7 or 8 years, or going upside down on a trade-in? I bet a lot of them do...

This is it exactly. I hear people tell me all the time how they "can afford" this or that. Then go on to tell me how much their payments are. The whole question of "affordability" in this country has changed drastically for the worse.

Family savings and wealth today are low to nonexistent, while personal debt is soaring to an all time high. That says many things.... But "affordable" certainly isn't one of them.

There is no getting around any of this, and it keeps coming back to it....... And most of the time these are the people who are telling everyone how much they can, "afford".

47% of Americans Can't Handle a $500 Emergency Without Worry

It's important to have cash on hand for emergency bills. Here's what to do if you don't have enough.

www.fool.com

 

[cptbarkey]

Here’s a recent vehicle offer from Carvana that I sold for $6k 2 months ago. Given I gave it a complete service with Aisin parts. The report validates the recent cox report of values dropping 5% recently.