Reply to WaPo -- New cars out of reach for many

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My parents never once bought a new car when we were growing up. My mom bought her first new car in 1970 (a vw bug) when she got her first job and didn’t buy another new car until 2015. This is not new. [/quote]

The new part is used cars beginning to approach the price of new cars. The number of people dropping to the very used market is increasing [/quote]

It's self correcting though. People can see the price of the new car and the price of the used car, and as the price of the used car approaches the price of the new car, they stop buying used and buy new instead. And then the price of the used car drops. With transparent pricing, it doesn't make sense that the price of used would ever actually approach the price of new. Consumers are more rational that that.

The only time this could be true is when new cars are so hard to come by that used is your only option. And that was true for a time but is no longer true. And even then, you're talking about recent model used cars. Like during the supply chain problems, someone might have bought a car that was 1-2 years old for the same price as new, simply because they didn't want to wait a year until the new car was available. But a car that is 5 years old? Still much cheaper.[/quote]

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