In 2001, I bought a second hand Jaguar sports car. perfect condition, It had 45,000km and was 6 years old. I paid about 10,000 euros for it.
A few weeks ago, I saw in a forecourt a second hand jaguar, also with 45,000 km ans 6 years old. it was the equivalent of mine with the same conditions.
It cost 75,000 euros.
In 2001, 75,000 would get you a new Aston Martin or Bently.
car manufacturers have artificially inflated the prices of cars, so that they are out of reach of most people to buy in cash, but they have made the financing ridiculously cheap, to lock people into long term finance or leasing.
car manufacrurerw are no longer in the Auto business, they are now finance companies.
I know someone who had a huge concessionary. they said that if a person came in to the showroom and wanted to buy a car in cash, they were seen s a bad customer, but someone wanted credit or leasing was far more interesting to them.
people wonder why noone has savings these days, whereas our parents all manages to put alot of money away every month.
The banks realised that this was dead money, and everything has been organised to strip everyone of their whole income every month.
From mobile bills, to car repayments to spotify subscriptions or even GPS software, you dont own anything anymore, you lease it all and you pay every month. it is modern slavery.