Comment by kulahan
24 days ago
Brother, people are scraping by right now. Auto loan defaults are nearing all-time highs. Car loan lengths are longer than ever. The average age of a vehicle on the road is something like 14 years old now.
I promise you with all my heart, those luxobarges are not being purchased because they’re practical in any way, shape, or form. It’s 110% virtue signaling.
I don’t get the recent internet trend of trying to excuse any bad behavior by saying it’s all actually very logical and simply a tragedy of reality. Nobody is buying a gigantic vehicle because it has seats that are easy to clean. Nobody is buying an expensive ride because they just NEED those auto rain wipers.
People are bad with money, and keeping up with the Joneses has always been a high priority in American culture. I see people making $20-25/hr driving brand new Cadillac SUVs. I talk to my car selling friends, and they have the loan rates for 6-10 years memorized, not 3-5 years. Nobody does those anymore.
Of course there is an enormous amount of virtue signaling around cars. It’s one of the strongest social signals people purchase.
> they have the loan rates for 6-10 years memorized, not 3-5 years
Playing Devil's Advocate, if you're going to be fucked either way, why not be fucked and have a nice truck than not?
It seems like, at least from an uninformed EU perspective, that if the "system" gives you the ability to get a big truck for no worse off that if you weren't going to get it, why wouldn't you?
It seems like auto manufacturers overly inflated their prices, and the loan issuers are mopping up said inflation back - so in the end the borrower (at least if poor and they're going to default either way) is better off getting more truck for their buck than less.
Because most people who are fucked, are fucked due to terrible money spending habits. Tons and tons of people who make six figures are living paycheck to paycheck. Not because they must but because they won't stop spending poorly.
Again, I don't understand the desperate internet trend of defending terrible choices by focusing on the, like, 0.001% of people who do everything right and still fail. We've got the highest living standards on the planet. It's absolutely a choice.
I was hoping for some genuine counterpoints but this just feels like a rant? It feels like the stereotypical response that millennials could afford property if only they didn’t spend their money on avocado toast at Starbucks.
Let’s say a normal car costs you $200/month and a big truck costs 400.
200 is not going to make a difference in your situation - you are either good either way or close to breaking point and therefore fucked either way (if not this month, then the next one when you have an unexpected large expense).
If you’re fucked, why not take advantage as much as possible and get the most truck for your buck? Well “your buck” in quotes but you get my point.
If my budget was at breaking point and for only 200 bucks extra (one time payment since I’m gonna default next month) you can bet I’m gonna take advantage and get another ~20k worth of truck that I’ll get to keep until the bankruptcy proceedings complete (at which point the extra would’ve depreciated off anyway). Or is there something I’m missing?
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>Brother, people are scraping by right now
Yes some are, but not everyone with a big truck. I'm in truck country and most people can afford their big trucks no problem at all. It's not virtue signaling, they are do-everything cars. Nothing else beats them.
You can go to a off-road work site during the day, and take it downtown for dinner after. Lots of people are making good money and can easily afford them.
> I promise you with all my heart, those luxobarges are not being purchased because they’re practical in any way, shape, or form. It’s 110% virtue signaling.
not sure virtue signalling is best description here. I think "conspicuous consumption" is far better description of the process
Indeed, in a sense it might even be better referred to as "vice signalling".
You're absolutely correct, thank you.
> I promise you with all my heart
You have such a deep misanthropic view that it's prevented you from seeing anything outside of it. You're preaching a faith not practicing an understanding of the world.
> Nobody is buying a gigantic vehicle
There are tons of contractors, laborers, small business and property owners who need the space or the utility of the vehicle. The reason these vehicles sell well is because they come in _tons_ of configurations.
> because it has seats that are easy to clean
No, that's why the manufacturer puts them in there, it helps them sell more vehicles by expanding their options.
> People are bad with money
Just.. like.. universally? Then how do you explain the number of billionaires and millionaires in this country? Let me guess.. from your heart it's 110% graft and corruption and 0% skill and sense and building wealth?
> I talk to my car selling friends,
Who has "car selling friends?" Your access to anecdotal information may not be helping you.
> It’s one of the strongest social signals people purchase.
We know this.. how?
> According to Edwards’ data, 75 percent of truck owners use their truck for towing one time a year or less (meaning, never). Nearly 70 percent of truck owners go off-road one time a year or less. And a full 35 percent of truck owners use their truck for hauling—putting something in the bed, its ostensible raison d’être—once a year or less.
> So what do people actually like about trucks? According to Edwards, the answer is counterintuitive. Truck drivers use their trucks very much like other car owners: for commuting to and from work, presumably alone. The thing that most distinguishes truck owners from those of other vehicles is their sheer love of driving. “The highest indexed use among truck owners is pleasure driving,” says Edwards. Truck drivers use their vehicles this way fully twice as often as the industry average. “This is the freedom that trucks offer,” says Edwards.
https://www.thedrive.com/news/26907/you-dont-need-a-full-siz...
The F-series is the best selling car family in the US. Some of them are using it for its intended purpose sure, the majority are just using it as parent said, a luxobarge.
>The F-series is the best selling car family in the US. Some of them are using it for its intended purpose sure, the majority are just using it as parent said, a luxobarge.
A F550 box truck and a crew cab shortbed F150 are both F-series as well as everything in between.
If not the best selling it had better be damn close with all the different vehicles that exist under that one nameplate.
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> the majority are just using it as parent said, a luxobarge
25% use it for towing.
30% use it off road.
65% use it for hauling.
Obviously there's overlap but how many people do none of those three?
It's less than 35% which is not a majority.
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>You have such a deep misanthropic view
For being certain about something based on industry data?
>There are tons of contractors, laborers, small business and property owners who need the space or the utility of the vehicle.
And if that was the majority of these purchasers, this would be a reasonable response, but the extreme majority of truck owners use their truck for its intended purpose ONCE A YEAR. Bro just rent it from frickin' Home Depot and drive a Camry.
>No, that's why the manufacturer puts them in there
Ah, and of course the cheaper cars are purposely given seats which aren't cleanable? Or is it still correct that in the context of our conversation, it's nothing special and completely unrelated to how most people use their car? It's not within a million miles of a decision point.
>Just.. like.. universally?
Yes. You got it. I literally meant that every single person on the planet, rich, poor, and everything in between, is bad with money. I certainly wasn't making a hyperbolic point to bring an idea to the forefront - incredible detective work.
>Who has "car selling friends?"
I buy a lot of cars, and eventually made friends with the people I keep buying them from. We hang out sometimes. Do you just... not make friends with anyone?
>We know this.. how?
Who knows? My friends actually sit around talking about the specs on their refrigerators and the color options. They tinker in the garage on the cooling coils for hours a day. You should see how smooth the drawers in mine are.