Yeah, we don’t need more things in the cabin that require the driver’s visual attention.
It’ll probably be a temporary issue, given that driver input will likely continue decreasing until it hits zero, but still.
I’ll out-Luddite you, I was driving a company car and came the closest to an accident in 20 years because I was trying to turn off the nanny-warning systems. Just, you know, pay attention.
I have a touch controlled range at the house. Of all the things about it, I hate that the most. Brushing or wiping near something can cause a mis-control on a burner you aren’t using, or vary the temp in the wrong direction, or even turn everything off.
It was horribly thought out in terms of going from design to operation.
Now combine all of that with a car that moves around, people that move in the car and having to pay attention to the road … I’ll pass.
I’m sure they could do it in a way that works. I’m not sure I want to be on that bleeding edge (again.)
Ok.
96 month loans! D:
Eight friggin’ years? Holy moly.
This is the kind of predatory lending that got us into the sub-prime mortgage situation in 2007/08.
Heh, that was my exact thought as well. What happens in five years when a bunch of people get out-of-warranty cars breaking down and decide to quit making payments?
Isn’t the whole reason why they never offered these sorts of terms is due to the risk of defaults in general? I have to wonder what’s changed their minds - is it a re-evaluation of the risks or are they packaging up their auto loans and selling them just like mortgage lenders did? Perhaps Nissan believes they are “too big to fail” if they get into trouble with these loans in a couple years.
I’m pretty sure auto manufacturers don’t handle their loans internally. That’s Big Banks/Wall Street’s job. They just pocket the profit for selling the car and I believe the dealer gets a commission of some sort on loans originated.
In other words this is probably the financial sector deciding that they’ve found a clever new “product” and they are going to get hugely rich. And if they don’t, no big, the taxpayers will bail them out.
Cars are pretty expensive now, and when they offered 72… people thought it was nuts too.
Nissan quality has dropped so much in the last 20 years, it’s one of the last brands that I’d risk a long loan. On the other hand, the Renault-Nissan-Misubishi Alliance (owner of other storied quality brands like Lada) might fail before these loans are paid off & you’ll get a reduction from the bankruptcy court!
The bigger manufacturers tend to have in-house or affiliated financial companies, like GMAC for instance. I think there is some technical legerdemain that keeps them separate from the other parts of the company, but in the end it’s all the same profit. In all the years I’ve been buying cars, I think I’ve had a load from a manufacturer’s financial arm maybe twice. Usually, yeah, the dealer has a set of banks they like to go to. But I always have my own financing set up before ever visiting a showroom.
Nine years, though. I think @Nesrie is right about the cost being a driver (hah!). People want the admittedly desirable features of up-scale and higher trim models, and base prices are creeping up as well. I also wonder whether people finally have discovered that leasing isn’t the magic bullet it was touted as a while back. For many people, leasing isn’t cutting the monthly payment enough to get them into the ride they want. As they could not lease a car for long enough to lower the payment, the next step logically is stretching out the purchase price.
A little back of the napkin math (and an online amortization calculator) implies that with no down payment and today’s interest rates, even with such a long loan time you’re going to be upside down for like two to three years on that car. At least.
Yeah I think most of next year is gonna be a mess for the industry also.
At the prices things are now I am for sure not buying. I’m just trying to hold my current car together for a few years to see if things get better.
I replaced mine with a 2017 Tucson around the start of the year, when prices were already ticking up and selection getting thin. That same model & mileage goes for about $5K-8K more now.
Up here, at the ass-end of the supply chain in northern New England, local car lots are looking like the Shenandoah Valley in 1865–picked clean over so bad a crow flying through would have to pack a lunch.
Yeah of all the dealers around me the only one with a lot that doesn’t look post apocalyptic is the Volvo dealer, no one apparently likes or maybe can afford a Volvo?
I’m amazed at my timing earlier this year… Traded my Fiat 124 as used values were rising so ended up only paying $500 to drive it two years, and got my Mazda CX-30 right before supplies started waning, so still got a hefty discount off retail. Sometimes you’re lucky.
I had to take my car in for service a couple of weeks ago (Kia.) I watched 3 very bored salespeople line up different customers back-to-back-to-back doing a test drive in the only high package Kia Sportage (low end SUV) on the lot. Like … tons more Sportages out there, but that was the only one with the higher trim package so, I’m guessing, the only one people wanted to look at.