U.S auto industry collapse

youtube.com/watch?v=b-9hX3H_9qI&sns=em

Vehicle Leasing is going to crash our financial system. A 15 YEAR old rusty pickup with high millage shouldn't be worth 12k but it is.

Am I paranoid POL

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most cars these days are cheap plastic shit that will break down right after your free 30k mile "warranty" is done.

40% lease penetration for ford motor company how do you stay profitable?

Capitalism has boom and bust cycles that occur naturally. The actual manifestations of these cycles differ but the end result is the same. This is not a bad thing.

>A 15 YEAR old rusty pickup with high millage shouldn't be worth 12k but it is.
I still have a 1979 Sierra, and just got a 2012 model for 1500$, how is 12k reasonable for a pickup?

That's the thing cash for clunkers killed all the reliable vehicles, that could be rebuilt at your local AutoZone.

Now the auction blocks are stuffed up, people don't have 10k cash to drop on a new car that has a high chance that it was abused, I own a service repair shop, you wouldn't believe how many people come in wanting to buy receipt for a oil changes because the dealer wants to see if they've been changing the OIL to void the warranty, because people don't follow the service guidelines

I got 15k back for my 2005 f250 with 130k after i wrecked it.

>someone leases a car
>lease is just a fancy word for renting long-term
>this someone gets to pay the same kind of monthly cost as if they had just bought a car
>except they'll never actually own the vehicle
>and they're liable for everything bad that happens to it and can face fees and penalties for any damages
>and someone else probably leased the vehicle before the current lessee
leasing a vehicle is one of the shittiest financial decisions you can make

This. 750$ a month payment, and half of it is just for interest.

they are business equipment. They also tend to be mechanically more sound than your average passenger car.

>i just got a 2012 model sierra for $1500
>a 15 year old rusty pickup with high mileage shouldn't be worth 12k but it is
pick one you absolute retard

The banks have loosened loan restrictions giving the most of the loans to dindus and white trash. Only stupid people lease cars.

These stupid people suck with money and will, more than likely get the loan placed in collections

A van can be used to hall shit around just as well as a pickup in most cases but no one's gonna ask $12k for an astro that got made when Bush was president.

that's not how leases work

True, my 98 f150 has 260k and just keeps chuggin, while something is getting fixed at least once a month on my sister's jetta.

Didn’t say it was.

I may over ambushed the story a bit, but I did see a 2004 dodge pickup 4x4 gasoline with 100k miles sell for 10k

LEASING = THE PLANNED USE OF THE VEHICLE (mileage plans, plans for extra wear and tear, maintenance plans) You know what you're fucking going to pay in a lease. Good salesmen break it all down for you.
THE REAL RIP OFF IS WHEN THE LEASE IS UP AND YOU WANT TO KEEP IT BECAUSE YOU'LL HAVE TO REFINANCE IT AND THE DEALER TREATS IT AS SELLING A PRE-OWNED CAR.

JUST FINANCE YOUR FUCKING VEHICLES, OR WALK IN WITH CASH.... OR DON'T BUY FROM A DEALER!

>tfw burgers commonly take advantage of our weak dollar and cross over to buy used cars to sell back in the states

you fuckers buy all our used diesel pick-ups

Waaaaaaay too many car faggots out there for it to be worth anything anymore. Google and youtube will/has killed off all minor auto repairs. Most people already have a car and will buy a beater before even thinking about getting scammed into a loan.

If you work anywhere in the auto industry, start finding your way out now or you will be in a ditch this time next decade.

T. Investor with money on the line.

you fuckin dingus. that's not how it works at all.

first off, BUYING a car is the shittiest financial decision you can make. As soon as you drive it off the lot, it loses half of it's value. So no matter what, paying for a car is the shittiest way to spend your money. but you're not going to walk everywhere are you?

LEASING a car, you "rent" the car long term, pay a cheaper monthly payment than if you BOUGHT the car, and you drive a brand new car, with guaranteed no problems or its covered under warranty. Then at the end, you turn it in, and if you're in a better financial situation, "invest" or buy a car that you're going to keep for 20+ years and really take care of it. But if you're not in that situation, you just lease another brand new car, and keep making another set of low payments, lower than what you would have been paying than if you decided to BUY a car.

As long as you don't drive like a fucking dindu, and actually take care of your fucking car while you lease (I.E. don't smack your lips and ash blunts all over it, and change the oil regularly), leasing is a good option. This is also assuming you've got a CAREER, not just a job, and intend on bettering your financial situation every year.

BUYING a car, or investing in a car whatsoever sucks financially, no matter what, but LEASING a car is good to get you through life, risk free, for a relatively short (10-15 years) time.

No man, it's all computers, I've spent 15k in computer diagnostic equipment in last 2 years at my shop.

I work in heavy equipment volvo VNLs Cummins isx.

If anything the cost of running a shop has increased, dealers aren't offering training for things like the new emissions standards

>dealer leases vehicle to customer for about 30% the cost over 2-3 years. Then they sell its CPO at 10% off sticker. Thus they make 120% of sticker

only an idiot would rent a car for several years at a time. great, you've made payments this whole time, and kept the vehicle in immaculate condition. Now, give it back to us so we can slap our "certified used" sticker on it and sell for 75% more than it's worth. You got hozed, you keep getting reamed, and now you call people idiots for not doing like you. no thanks. fuck off with your lease.

Elon musk is a fake capitalist, until there's fallout 3 type mini nuclear reactors in a car, the electric car won't work, our fucking old power grid can't handle the main stream use gutless utilitarian electric car, couple that in with natural population growth

This. Leasing cars is redpilled.

I don't give a fuck what they sell it back for. 95% of car buyers are fuckin chumps who don't know shit about negotiating, that's where the dealer makes the money - not off me. I've never once paid for "dealer fees" or tax, tag, title - have had first month paid for every time, and generally negotiate 80-90$ off the asked monthly payment. motherfuckers are only concerned about moving inventory to satisfy their higher ups. they'll lease to you a .5% GP margin if you just fucking negotiate and are prepared to leave the lot the moment they try to pull bullshit. they do it every time, just walk out and they will literally chase you into the parking lot asking you to come back and reconsider

don't be a bitch. let them screw somebody else and make their money off somebody else. it's that simple.

>A 15 YEAR old rusty pickup with high millage shouldn't be worth 12k but it is.
are you fucking retarded?
I can pick up no less than 10, pickup trucks for less than $1,000 each right now.
Thing is anything 2005 and past are only made to last 5 years, so there's that.

You don't get hosed, since you pay less and always have a new car with no problems. You lease for 2-3 years and it costs less than buying a car, and you spend less in upkeep since new cars today are designed to fall apart after 50k miles.

What about those of us, who run businesses, I need unlimited miles and don't want to live with dindus seeing that's where my shop is. Commute is the only option

Better off buying used...best bang for the buck. Car already depreciated and you can get higher end cars for way less than new even if it is only 3-4 years old

Either you buy a reliable old shitbox or you lease a new car, but under no circumstances should you buy anything new that isn't a Land Cruiser.

>Thing is anything 2005 and past are only made to last 5 years
which is why I like my 1979, the thing is a tank. Although I have done a lot of body-work

I lease here in the UK, works very well, new high end car every 2 years, C63 AMG Mercedes last two and now a BMW M5. At the end of the lease period the 'balloon' payment is covered by the residual value in the car and you can get out or re-lease. Sure you never own the car but no way I could afford these high end cars other than lease deals, love it. System might be different in the USA.

>first off, BUYING a NEW car is the shittiest financial decision you can make.
ftfy
Most of the value is lost in the first few years/50k miles. You lose a good chunk just driving it off the lot.

Leasing won't keep the big 3 alive especially if banks stop giving loans to dindus and other high risk loans.

40 percent is Ford's leases get destroyed or go into collections

you're absolutely right. buying used is best bang for buck. there's just an inherent risk involved with some bullshit going wrong with the car. Catch-22 is the older cars are built better, but of course would have more wear and tear, the 2005+ cars have less wear and tear but are built like shit. If you can get a warranty with your used car, then great.

It has just been my personal preference to not have to worry about getting hit with a major payment out of nowhere - and that these days, you can find a brand new low-end sedan lease for cheaper than you can a used 5 year old car (from a dealer that is - don't know if I'd buy off craigslist - I'm just too risk adverse).

For instance, I'm leasing a 2016 jetta - was brand new, for $181 a month, 12k miles a year.

I regularly check used car deals, and the only thing I'm seeing comparatively that I could BUY for a similar payment are fuckin trash 2012 Chevy Sonics and shit

Paid $400 for this 96 f150.
86k miles on it.
It needed a idle air control valve when I bought it the part cost around $45
It runs strong.
Primarily use It in the summer time as an /out/ vehicle and also as a farm truck. People are stupid about their cars and pay way too much for them.

you're right, my reply was to a guy misrepresenting what leasing actually meant, and was comparing buying to leasing - so I compared apples to apples, but I agree with you

yeah, that sucks, if you need the miles, leasing is out of question. I still commute about 25 minutes a day to do the same, but I got a 12k miles a year deal that allows me to do a little bit of driving. Used buy is probably your best option

sweet deal my friend.

although just as you state, that's a summer /out/ truck, not something you'd drive 30 miles a day back and forth to work every day of the year in.

I mean, I guess you could, who gives a shit. just hope nothing major fails on you

I would drive it more but the gas mileage is for shit when compared to my suburu.
Think the truck gets like 14 mpg so yeah I try not to use it as my daily driver.

>/out/ truck
>Subaru main
>solar panels
>land

attaboy

>A 15 YEAR old rusty pickup with high millage shouldn't be worth 12k but it is

wtf shithole state do you live ?

Hello fellow Forester fag. I love my 2015. Hopefully getting 250k+ with it. So far, so good.

paid $2000 for 1994 v6 s10 with 120k miles ten years ago in chicago. Same truck is selling for 5k in socal in current year....don't get me wrong I love my truck but no way it's worth even what I paid for it.

Is it true that in the US you can practically afford some old muscle car as soon as you get your license? I mean if you hold a job that is. I remember a friend whos been there telling me this a while ago.

>tfw this shitty Buick is 14.000 USD here

Just buy a used ambulance. can get them all day for 2-8k.

The truck is worth whatever someone is willing to pay. As long as people are willing to pay that price for an old pickup the price will not go down. I do not understand how this is confusing for you?

If only “stupid people” who are bad with money lease a car how do they qualify when you need a higher cs, a larger down and pay a much higher monthly? I am starting to thing this is just you crying about your parents leasing a new car that you will never own.

You fuckers could be selling them down here also but you are leafs.

Are you having any issues with oil consumption? My mom's Forrester goes through it fast.

yeah I almost bought a 84 mustang fox body with a supercharger for my last car but instead bought an 800 dollar 1999 f150 and spent the rest on shit like guns and such

No I'm worried about the future of US automakers, the boomers are retiring healthcare cost are higher than ever, they can't prop up the industry anymore like they did in the past.

Couple that with interest rates rising and banks not loaning to high-risk customers, there's a chance at a auto bubble.

Just WACTH the clip

I run a truck shop outside of Detroit, my father hasn't bought a new truck since 2005, he's put thousands into it.

i saved a car from the scrapyard and fixed it myself.

felt so good when i got it running and passed inspection

What you talkin bout, Willis?
90' and early 2k pickup truck single handedly almost killed the Auto industry. They made the vehicles last too long for thier business models. People were putting 1/2 million miles on them. And since the trucks pretty much float the whole Ford and GM companies, when they lost thier Cash cow for a few years because no one was buying a new one.
You can get a great 15yr old truck for under 5k, and they are easy to work on and parts are cheap. If it wasn't for rust, it would be easy to keep and maintain a Chevy truck from the 90s for 50 years.

I just bout a 85 k10 blazer for a project vehicle. I love working on 80s trucks.
Pic related, not mine bust just like it.

early 2000 models are 30-50k here

wew
that sucks I bought a 99 for 800 dollars

Except lexus master race
Glorious nippon million mile lexus

but then the rich people, some of them, loose all their shit and maybe a bunch of factory workers burn down their house or something. that's why they try so hard to control the economy these days.

its not worth 12k

youtube.com/watch?v=OI-9iMrWRrw

>first off, BUYING a car is the shittiest financial decision you can make.
Buying a car allows you to actually own a piece of property that can be leveraged or sold at a later date. You can't do this with a lease. Leasing a car is the same thing as renting an apartment. You're never going to own that property, you're just going to keep paying for it until it stops being "yours" after a set amount of time. It is always better to own than to rent.

A new pickup truck today cost around 60k 10 years ago it was only 43k.

The inflated price of the new pick up makes the old 2005 pick up worth way more

>own a piece of property that can be sold at a later date
>for half the price you paid for it

leasing a car is like renting an apartment,
but make no mistake, buying a car is NOTHING like buying a house or piece of property - so your metaphor does apply

No they don't.

The us auto industry is killing it right now. The challenger demon, new z06, Lincoln stepping up their game. Caddys etc. I mean you get so much bang for your buck with American cars. European cars these days are overpriced shit that break down after a few years. Only the japs make more reliable cars than America. If i was going to buy a new car tomorrow I'd buy American and ship it over. Seeing as we don't have your retarded 25 year rule.

>A new pickup truck today cost around 60k 10 years ago it was only 43k.
This is what fake money does!

No, you pleb, this is how you stay fuckin poor. You should buy used cars with cash to avoid the immediate depreciation, and to not have a payment for 15-20 years. Do you have any idea what a car payment put into an investment that compounds interest at 10% will look like? Look into it.

Base model ram, with probably the smallest engine they make, I'm talking foremans truck that can haul 36 ft salmon boat/ yatch.

Not something to put my Mexican in.