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Jeremy
@jeremyct
daily takes on finance & the economy
Joined April 2024
6.4K Following    19.9K Followers
My transmission died last month. Uncle said just buy a reliable used car like we used to. I showed him what was available. 2015 Honda Civic. 140,000 miles. $13,500. He said back in my day that would’ve been $4,000. I looked it up. Adjusted for inflation his $4,000 car is worth about $8,000 today. The car costs $13,500. So even with inflation it’s still 70% more expensive than it should be. Then he told me I just need to negotiate better. People are out here financing used cars for 84 months just to make the payment work. Used cars with 100,000 miles on them. On 7 year payment plans. Just buy used they said. Used stopped being the affordable option a long time ago. Nobody updated the advice
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