145
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 10 Aug 2023
145 points (94.5% liked)
Personal Finance
3803 readers
1 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 1 year ago
MODERATORS
The used car market is being strongly manipulated by the banks. Their inventory of repossessions has skyrocketed over the past few years, but they are limiting how many are going to auction so not to destroy the market and their margins. I've heard rumblings that with the push for EVs and their costs, carmakers are going to make them a service. You pay a monthly fee to use them and every few years you will get a new one. You will never own one outright. Who knows if this is true or not.
That's basically a lease. Although it might not be a bad idea to lease an EV. It's basically a battery with wheels. The battery will die someday, and when it does you may be better off getting a newer car with newer tech vs. replacing the battery in your older one.
It's so incredibly wasteful though.