There is a good answer to the question that Erik asked over at neutral:
So, I think this commenter is generally right, interest rates and leasing can be bad, buying new is generally better if you keep the car for a number of years! But I can hardly think of many Americans that could have the luxury of buying a new car 100% on cash. Considering that 87.9% of Americans use the car for their commute, and public transport is quite limited in the US, hasn’t the car really turned from a luxury into a pseudo-necesity in that country?
The thing is, people complaining about high interest rates on used cars might sound petty, but to many there isn’t a real livable choice. Tell them they should go to a better dealer or fuck off and take the bus, but then, many dealers do predatory lending, and bus infrastructure isn’t as extensive as in other developed countries. Its easy to look down at them from a high horse and say that they should save up thousands of dollars and buy new, even though it might be quite difficult for many of them.
I don’t know, I just ponder the question of what will happen, will the governments of your many counties invest in public transport, or will the states pass more strict anti-predatory laws, or will nothing happen?