U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
View Poll Results: Would you prefer a federal tax credit towards the purchase of a "Big 3" vehicle, in lieu o
Yes 9 36.00%
No 15 60.00%
I'm not sure 1 4.00%
Voters: 25. You may not vote on this poll

Reply Start New Thread
 
Old 12-14-2008, 09:08 AM
 
Location: NY
1,416 posts, read 5,121,812 times
Reputation: 592

Advertisements

Quote:
Originally Posted by bentlebee View Post
That isn't what the OP stated. People like I..I have never bought a car using a car loan...just paid cash!!!
I'm the same way; the first and last time I ever financed a car was back in the late 1960s. For every other car I've ever owned, I have paid cash.

But people such as we are in the minority in this county. The VAST majority of car buyers take out a loan. And I'd venture to say that a majority of those people don't keep the car more than 5 years, at which point they buy another new (financed) car. I don't think such behavior is wise (I don't think any kind of debt except the type I mentioned in an earlier post, is wise!) but it's just "sad but true" that most people do NOT pay cash for a NEW car.

IMO once the typical new-car-buying customer reaches their 50s or older, they are more apt to pay cash (either because they can now afford to, or simply have finally wised up about debt) and probably more apt to keep that new car longer than they did when they were younger.

But until the majority's basic underlying consumer mentality ("I Want What I Want, And I Want It Now") undergoes a serious change, most of the new-car-buying public is going to finance their purchase. And for a hypothetical Big 3 Tax Credit scenario to have the desired effect, it would NEED to be utilized by a very large number of people. We "cash buyers" would make up a small percentage of that large number.
Reply With Quote Quick reply to this message

Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 10:55 AM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top