Economy Why a small China-made EV has global auto execs and politicians on edge

[Rod1]

but eventually the person who bought their car will have zero payments while your friend is still paying for the rest of his life.

He is paying for the rest of his life but he is always driving new cars.

Also you will be paying for the rest of your life too if you buy a car as maintenance will always be on you and chances are that you will buy several cars over the course of your life unless you plan to drive a car until you die.

I'm not arguing for purchasing new vehicles because that's not smart at all from a financial standpoint but purchasing a reliable older vehicle trumps leasing new vehicles any day of the week. If you're dead set on having a new vehicle every 3 years,

Purchasing a reliable older vehicle that you can service yourself is always going to be cheaper but you will still be driving an older vehicle.

then leasing is great but it's not smart financially because your payments never end.

Definitively is smart financially if the cost you are paying beats the deprecating market value of the asset itself. If i lease an asset for $6,000 dollars a year and said assets has a deprecating value above $6,000 a year, im better off leasing than buying.

 

[Andy Capp]

People love to talk shit about WEF "you will own nothing and be happy" and talk about ownership and all that shit.


But owning a car is a big ass scam, you go to a bank get a loan to adqucire and asset that is always losing value and for what to "own" a car?

In reality the bank owns the car and by the time one finished paying the car it has losts all its value and is a money sink.

So you sell it to a poor SOB to deal with those problems while you use the downpayment to get a bette model and back into debt

In reality car ownership is not true car ownership.


Meanwhile my friend in Spain is always driving new well maintained cars, i asked him if he hit it big over there and he tell me no, they are leased cars.


So he pays a subscription and he gets a car that is maintained and insured by the dealer the terms are tailore to his needs and when the contract is down he can renew it for a newer model, or if his needs change he can change into a new contract with the dealership.

He pays like half of what he would pay for a credit to own a car, sure he doesnt "owns" the car but he saves more than the value of the car would be if he bought it by the time he paid it and that doesnt includes any maintenance.

Its fucking genius if you ask me, its like paying rent but for cars but the difference is of course that cars are some of fastest deprecating assets.

So yeah fuck car ownership people can brag that their money sink is their own meanwhile they spend way more money on cars and drive older shit while my friend changes cars every year or two and always drives new, well maintained cars

I'm not disagreeing with the idea that a subscription service for cars would be pretty cool, but I think this, "In reality the bank owns the car and by the time one finished paying the car it has losts all its value and is a money sink." depends heavily on the kind of car. Our Toyota was paid off a couple of years ago or so and all we've put into it since was the cost of a break job, a wheel bearing, new tires, and new wiper blades every now and then. That's it aside from regular maintenance like oil changes.

If you properly maintain a Toyota it will lest for a decade or more easily. I can't speak for American brands but I suspect they have a lot of room for improvement when it comes to reliability. So just don't buy them.

 

[LeonardoBjj]

I'm not disagreeing with the idea that a subscription service for cars would be pretty cool, but I think this, "In reality the bank owns the car and by the time one finished paying the car it has losts all its value and is a money sink." depends heavily on the kind of car. Our Toyota was paid off a couple of years ago or so and all we've put into it since was the cost of a break job, a wheel bearing, new tires, and new wiper blades every now and then. That's it aside from regular maintenance like oil changes.

If you properly maintain a Toyota it will lest for a decade or more easily. I can't speak for American brands but I suspect they have a lot of room for improvement when it comes to reliability. So just don't buy them.

- But Toyotas and Volks last forever. You cant say that about a Renaut!

 

[Big Nasty Edison]

Tbf, fuck all that.

I want my vehicle as safe as humanly possible. Car wrecks are no fucking joke.

Better factor in good ole USA medical bills into the cost of that equation.

But no one is saying all vehicles need to be death traps. But there should be a cheap, realistic option to stay cool, warm or dry in all seasons for Americans who are otherwise relegated to bicycles and scooters either due to city conditions or economic situations.

Someone who is already forced to ride a bicycle or 50 cc scooter in city traffic is not going to be less safe in an American built chang-li competitor.