43% of Americans finance their cars

They buy used or lease as a company car.

So the people who drive new cars are bad with their money? Perhaps, but they're damn good at making money

Yeah I financed it at literally 4%
to grow credit

OP underage b&

now you get it

easy come easy go

A friend of mine just bought a £200k Bentley Conti GT on finance and through his recruitment business because if he didn't he would have paid about £400k in taxes. So by spending £200k he actually saved £200k. He's selling it in 3 years to do the exact same thing.

I buy new, cash purchase, and run them for a decade or more. I don't know how people can replace their car every few years. I cry the manliest if tears when I say goodbye to a car.

Most people aren't autistic

>I buy new, cash purchase, and run them for a decade or more.
Umm... How old are you mate?

Thought about making an LLC. The main purpose would be to just write off everything automotive that I buy off the LLCs taxes. Anyone see a problem with this? I know LLCs are expensive to start.

>wanting to keep a car longer than a couple years

>what is Toyota and Honda

sorry you drive boring shitboxes

i fiannced my first "real" car at 7%. feelsbadman being 21 and almost no credit. 6000$+tx (7200$CAD) 2013 Hyundai Elantra L Manual with 67K KM.

>Hyundai

>I need to get a credit card at age 16 and finance my TV and my fridge and my car because otherwise Mr. Goldstein won't let me finance a house later on

>not building your own house

You still have to buy land, materials, get permits, lawyers, have inspectors look everything over.

It's a poor nation, that's why China owns most of it.

In Europe, the figure is around 60% you memeing faggot

[citation needed]

{eat shit and die}

nextcontinent.net/publications/automotive-finance-study-2016/download

See this post friend >OP underage b&
This

Does this count leases? Where I live in Southern California there are more new cars on the road than older cars. I'm certain more than 50% of them lease because they're all upper middle class middle management types in their BMWs or Mercedes and soccer moms in their Range Rovers and Cherokees.

Absolutely incorrect comparison. The link says that 60% of new cars sold in Europe are financed. The OP picture says that 43% of ALL Americans have car loans. That's an entirely different dimension of measurement.

If we take it that 60% of new cars in the EU are financed, 15 million new cars are registered in the EU per year, and on average a car takes six years to pay off, that's 54 million cars in the EU that aren't paid off yet, and that's with a population of 511 million, so it's 11%. Not 43%.

A lease actually makes sense with german autos, once it's out of warranty, no one can afford to fix them.

Oh, and something else: I misread the OP, it actually says it's 43% of American car owners, but that's still 33% of all Americans, or triple as many as in the EU.

That, and the fact that typically people buy German luxury cars more for their brand recognition and "prestige" associated with it than for the physical product itself. It makes sense for those types of people to get the latest and greatest model every two or three years through renewing their lease agreements. This is particularly common for salesmen and management types who feel they must put forth a tremendous amount of effort to appear "successful" to their clients, partners, or whomever.

And? How many people have +$20,000 lying around to drop all at once on a car?

my IRA makes more in returns than the interest rate for a car loan would cost me, in what world do you think it's smarter to put 40,000 into buying the car instead of investing it and having it make more money compounded over five years?

I do

Me for example, and I'm not particularly wealthy. If people are bad managing savings it's no one's fault but their own.

Good for you faggot. Give or take less than 1% of the population is in the same boat as you

>Ameripoors

The figure is a fraction of that in any European country where taxes are twice as high

As demonstrated just now, the rate of people with car loans in the EU is a third of the US.

Put it in a Roth you dumbass

>using derogatory names about others to make yourself feel important

Really makes you think.

Why do you have so much money just lying around? Put it in a high interest savings account *at least*, or preferably invest it so that the money can work for you. Even putting it in a retirement plan is better than just having money sitting around, at least a retirement plan like a 401k isn't taxed.

Far less Europeans than Americans per capita would have the equivalent of at least $20,000 USD to spend on a new vehicle. It cannot happen with how tax hungry your politicians are

It's not about reliability you fucking autists.

New cars come out every fucking year. As long as you have a stable job and/or income and can afford it, why not enjoy a new car periodically?

I can't since I'm a poor fuck, but if I weren't, I'd lease a new car every two years. I would sample every Lexus and Mercedes and Audi I could get my hands on.

>it doesn't fit into my world view therefore it can't exist

He's talking out of his ass. Europeans love to lie on the internet. They're all poor as fuck and are larping to compensate.

put your fucking trip back on soviet

*name

though you're just as cancerous as a trip fag

>let me tell you about your continent's poverty even though we're known across the world for debt

So you have ~$20,000 USD sitting around waiting to dump on a single purchase? You could instead put 20% down or so, get a super low APR financing offer through the manufacturer for the new car (assuming decent credit), and the rest of your $20,000 you had could be invested earning you probably more interest than the APR on your car loan. You now have a new car you love and a separate investment earning you money on the side paying for your auto loan interest.

Or I could not buy a new car and not lose $5000 the moment I drive it off the lot, and not be stuck with payments for five years.

I have a Roth IRA and a small handful of not that impressive certificates (short term, modest interest) and then a decent chunk in a savings account which I need to do something with.

I never said waiting to dump on a single purchase. I just said I had more than that available to do so if I chose to. Right now I'm not even looking to buy any vehicles. I have three and they are paid off, next big purchase is going to be a house, or maybe a pick up truck then a house.

>moving the goalposts this hard

>Or I could not buy a new car and not lose $5000 the moment I drive it off the lot
You're right that new cars depreciate in value immediately, but buying a car - new or used - isn't an investment regardless. Unless you're talking about buying a classic to restore and increase value, any "normal" car is not going to gain or maintain value. If you buy a $3,000 Civic shitbox it's still going to lose value regardless.
>worried about making payments for five to seven years
Why does this concern you so much? If you have an unsteady job or work as a contractor I understand the concern here, but if you're on a salary or full-time hourly wage making decent money this shouldn't concern you. Making payments for a few years on a car should be something you can budget for. Car payments are not very expensive after all. Even high end $40,000 cars with only 10% down only cost a few hundred a month assuming your credit isn't shit.

>Buying new
>Cucking yourself into experiencing all the new component issues for the smarter next owner

>buying used
>cucking yourself into experiencing mechanical failure because the previous owners didn't know what they were doing when maintaining the car or breaking it in while new
>paying what you would have paid in interest in mechanic bills and time wasted researching problems yourself
>cucked into being forced to accept the first owner's choices when it comes to features and add-ons, don't even get to pick the color unless you spend thousands of dollars on a paint shop

The point is that both options have their ups and downs. There's no "right" option for 100% of the population. For some people a lease is even best for them, though I would personally never sign a lease. Whether you buy new or used the most important thing is to budget for your purchase and know what you're getting in to so there aren't any surprises along the way. If I were a poor college student that needed a car to commute to class and was poor as fuck, I probably wouldn't buy a new car. However in my current situation where time is much more precious than my disposable checking account balance, I prefer to buy new.

Despite your quads, there were no goal posts other than , which I do, and so I posted "I do"

It explicitly referred to a car

>buy 3k civic
> sell 3 years later for 2k

i dont see how thats as bad as financing a car for 8 years and paying off a 45k car at the point where its resale value is about 5k

> spending more money than the vehicle will be worth by the time you own it

>paying 20k for something you could comparably buy for 8k
also, if you really want a car for 20k, wait till you have 20k? but at that point you should just invest the 20k in something for a few years and buy a house

>actually caring what your always-and-forever depreciating asset is worth after you buy it
Who the hell cares what the resale value of the car is in five years? Unless it's some shit econobox you want to sell as soon as you can, if you're buying a car new it should be something you are passionate about and care for. Selling the car you love after give years is retarded, so the worth doesn't matter.

>this retard has $20,000 sitting around in a bank account he can drop at any time
>its not a fallback in case he loses his job
>its literally money doing nothing with no purpose
>he hasn't invested it to earn 6-7% each year

Whats it like having no concept of money user?

Were you dropped on the head as a kid?

Exactly. He could invest that $20,000 and earn anywhere from 5%-12% in interest each year. Buying a new car typically has an interest rate that's 5% *maximum*, so he'd easily be able to pay for the interest automatically through investments alone, and still earn extra money in addition to that.

It's like he usually lives paycheck to paycheck and randomly got $20,000 but doesn't know what to do with it.

Where do you get 12% from?

It's more than 20k and it is being saved for later use in the event I am without a job, and more likely it will be put towards a house in the relatively near future.

Can you not fucking read?

Not only can I read, I can understand what things I read mean. Which seems to be beyond your cognitive abilities.

tell me more

1.9% through university credit union. Literally why wouldn't I?

>I live in Nowheresville, Flyover and my house costs less than a Camry

1.9% through Chrysler Financial for a brand new 2018 Challenger 392 Scat Pack Shaker
Why wouldn't I?

Lol, well, IRS audits should be your main concern. Legitimate business models do exist for people that love cars (think car youtubers who literally make ad revenue from car content) but its not an accessible platform for everybody. Not to mention that I am fairly sure the majority of the cars you’re interested in aren’t going to be fully deductible

If it's 40k, you will pay over $2,014 for the financing over 5 years. It's really not that big of a deal. Why I don't buy new is I really can't afford the depriciation hit. It's hard for me to wrap my head around how much less it's worth after 2 or 3 years. But, you get what you want, so...

>chrysler

I definitely understand the depreciation being hard to be okay with as a buyer. It doesn't really make sense from a traditional economics standpoint of value. However if it's a car you're planning to keep for the foreseeable future, then I don't see a problem with taking that depreciation hit since you're not planning to sell it. That's a car you'd buy brand new and DD until it was falling apart to the point of being prohibitively expensive to keep repairing in like 20 years or so. Then again it's a Chrysler so it'd probably fall apart from day one lol.

>Ameripoors

I can get a brand new one for 1.9% APR or a used one for 5%+ APR. Makes the choice pretty easy when you consider the other benefits of buying new.

If I'm buying what is essentially a dream car of mine with the intention of keeping it for at least ten years I don't want some previous owner to be have been hard on it or fucked it up in some way. Added perks of being able to choose whichever color I want, the features I want, and more financing options available. To me that makes it worth the added cost of buying new.

Americans always give yuros shit over driving 0.0004 litre diesel hatchbacks but they spend proportionally much more of their income on cars

You've got a warranty, but here's the thing: if you can't at least pay 25% of so down, you really can't afford it. If I didn't have 10 or 15k sitting around, I sure as fuck wouldn't be buying a 40k vehicle, that's bordering on retarded.

I get paid mileage through work and have a separate savings account for car stuff.

Old enough that I should have stopped using 4 Chan.

>financing something that loses 50% of its value the instant it is used one time.

[citation needed]

>New cars come out every fucking year. As long as you have a stable job and/or income and can afford it, why not enjoy a new car periodically?

I don't like cars

If you're buying some hatch shitbox or some rare/unique thing then okay buy used.

But I don't get why carcucks hate leasing. Cars are computers nowadays. You ever drive a ~2008 car with an "infotainment" system in it? It looks and runs like shit. Computer CPUs and screens and software ages like milk. Cars have no value after 4-5 years because of this.so I don't get what's wrong with leasing every 3 years.

Think of how shitty your 3 year old iPad is. Well guess what? Every car manufacturer bolts a fucking tablet to the dashboard of every car now. Its gonna be outdated and shitty within 3 years.

Especially now that cars are moving toward hybrids/electrics.

>us population is 324 million as of january 2017
>107 million somehow equals 43%

>parroting bullshit because you're a dumb nigger

t. soyboy

Yuropoors can't afford cars.

Lol it's still like $40k for one of those shitboxes there.

Stop buying high end German cars. Also what are maintenance and repairs.

:O

tfw pajeet and mr. chingchong drive better cars than you in your lifetime