Car prices and interest rates right before the 2008 financial crisis
by Moosen_Burger
Car prices and interest rates right before the 2008 financial crisis
by Moosen_Burger
26 Comments
interest rates almost sound like a warning sign here
Brand new 2007 Passat 2.0T for $21k holy cow, compared to a used 2019 Audi A3 2.0T bought in 2024 for $21k with 89k miles. Market is shit.
No wonder older people think cars are still affordable
08 Focuses *never* got 37 MPG!
No clue how they got 37MPG from a 2007 Ford Focus. Maybe in the mid 30s downhill with a good tailwind.
This and the pandemic are where a lot of people’s unrealistic expectations about what a car should cost and what their current car should be worth came from.
and then those non-vetted high risk loans were turned into asset backed securities, on which layer upon layer of credit default swaps were placed
worked out well
I bought my car in 2020 with 0% Apr for 84 months. About to pay it off this year and just hit 44k miles on it. The lower car payment for doing a stupid long loan actually helped out. Though I wouldn’t do that if I had more than 0% Apr
I notice nowadays they do not show the total vehicle price. They hide it by showing the monthly payment!
My first car was a brand new 2009 Chevy cobalt. Bought it off the lot with 7 miles for $12,000 lol
I didn’t even know the Focus was sold in the US
Good to know how well these are holding their values
I used to think 20k was a lot of money for a car. I still do , but I used to as well
Now it’s the opposite
You pay more of you want to pay cash lol
I worked at a dealership during/after 2008. I remember dealerships literally GIVING A CAR AWAY if you bought a truck.
Like 10k off the new truck AND a free base model sedan, you just had to pay taxes.
It was WILD. They were desperate to move cars.
the best car on here is the ranger, i’ll bet many are still running. whereas the rest are all probably rusting in a junkyard
F-150 has tripled in price. And it ain’t three times the car.
what is that weird paper you have in your hands
As someone currently looking at new trucks this hurts. That F150 is now well north of 50k out the door. Inflation only puts it at 33k, so this is how much we’re being gouged on pricing.
Man I remember looking at a s4 and they were giving them away around that time and I thought man let’s wait a couple months then we all know what happened
i was able to get 0.9% financing in 2012. 08 wasnt D-Day for the car market. I feel like that didnt really happen until like covid – or almost.
26,000 for my 2005 Silverado and still ticking. No way in hell I would pay the current prices for them.
I feel like the prices for those cars would be the same today
I don’t remember cars being this inexpensive in 2007. I distinctly remember buying a new F150 in 2004 and the sticker price was 30k at that time.
I do remember accords and Camrys being between 15-20k for the longest time
Interest rates were good after 2008 too. Seemingly every car maker was offering 0.9% financing on cars for most of the 2010s.
Idk what your complaining about. Those car all all cheaper than that now.
Of course the cars are almost 20y/o now but still cheaper.