Borrowing for a car is becoming normalized in my country, but what's wrong with just buying a €5-10k car outright? My SO and I have spent a grand total of €12500 on purchasing 3 separate vehicles in about a decade.

I drive a relatively new electric car for work that is a job perk, but if I wouldn't I'd just driving to work in our little Mazda 2.

There is no single part of my house I even want to spend the average new car price on (€43k). That's retire a year early money.

[–] ensignrick@startrek.website 6 points 11 months ago

I got 6% last month on a couple year old used car (I have bought a car since 2005) and I was shocked and the guy said that was one of the best rates he has seen lately. Absolutely insane.

[–] Exusia@lemmy.world 2 points 11 months ago* (last edited 11 months ago) (1 children)

I have "great" and got told 13% a month or two ago. Didnt know the market was all futzed and asked if i did something wrong. Can you believe I passed on buying lmao

Have they stabilized?

[–] whatwhatwhatwhat@lemmy.world 2 points 11 months ago

I have “good” and was offered 9% in early October.

One good sign is that banks are lowering their rates for longer term CDs. I’m seeing 1 year CDs in the 6% range, but a 5 year CD is more like 2%-3%. This means that the banks expect the fed to lower rates in the next few years.

[–] xpinchx@lemmy.world 1 points 11 months ago

Insane, I have mid credit and got 3% in 2017