As cars become more expensive, and trade-ins worth less and less, buyers go deeper in debt on new cars...
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personal-finance/how-spend-45000-27000-car

the reason for this is not the increasing price of the cars. as a matter of fact if you want presentable, safe, low maintenance car you can do it for less than just a few years back. The reason is that people buy brand new luxury cars that they don't need with a loan they can't afford. Basically inability to do remedial math not some dealer conspiracy. blame the people making poor financial decisions.

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chevy traverse, Jeep cherokee, gmc sierra? How about 5 year old honda civic with low mileage and good carfax history. I bet it can be found for under 9k and will last for another 20 years with basic maintenance.

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We need financial literacy at every school in Canada and the United States. When you show kids what a balance sheet and an income statement is, suddenly the uninteresting theory hits you right in the face and you now consider your own mortality. That Lamborghini you dreamed about since you were 7? Well that's going to cost you, and you need to work your ass off to make it happen. Then you learn the value of "Must Have" vs. "Nice to Have".

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