welp, guess my corolla needs to last until I die. I spent about $9k usd (in australia though) on it second hand pre covid and I'm just gobsmacked at the prices of vehciles now even years post covid. I make good coin and I just can't see how non-"enthusiasts" can justify spending so much money on their vehicle. there are houses in my suburb with 3-4 of these expensive, new model cars out front.
It is. From Australia's largest Toyota dealer I know that ~70% of new car sales are financed. A proportion of the rest would be funded by home equity but that is harder to measure.
An interesting trend that I've heard from multiple dealership (friends and family) - the number of people being rejected for financing has dramatically increased in the past 12 months. There are some dealership areas now where a third of applicants are being turned down.
