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ben7799 2 days ago

Another reason that this matters (which is artificial) is that at least in the US so many car owners are on "permanent car payments".

They never pay off their cars and trade them in on another one and just keep making payments without really ever owning a car outright. And increasingly as prices have gone up they are trading cars in that they are underwater on, rolling old debt into the next loan!

If you're in this category of insane financial ignorance trying to appear rich but actually being "car poor" of course this resale is a huge problem. But for anyone who buys a car outright or pays off their loan and then drives the car for many years it's not a problem at all whether you bought new or took advantage of the massive depreciation and bought a lightly used one for a great price.