America Can't Afford a Used Car Anymore

America’s used car market still feels stuck in the pandemic. Prices are very high, affordable options are disappearing, and the same budget now buys an older car with more miles. This video follows the missing cars through the system: fewer new vehicles built, fewer leases signed, and fewer three-year-old cars returning to dealerships. Chip shortages pushed automakers toward more profitable trucks and SUVs, while smaller discounts made buying a car harder. Years later, that lost supply is working its way down the market. Buyers priced out of nearly new cars move into older ones, putting pressure on the cheapest vehicles, while existing owners hold on to their cars longer. Then there’s the cost of borrowing. Longer loans, high interest rates, and negative equity can leave buyers paying for their previous car alongside their next one. For people with poor credit, the squeeze is even tighter. Rising repossessions and struggling subprime dealerships are making access to a car harder, with consequences for people who need one to get to work. From the collapse in leasing to debt that follows a trade-in, this is how the pandemic’s missing cars keep shaping what Americans can afford today. LinkedIn: https://www.linkedin.com/in/hariharan-jayakumar-silo Instagram: https://www.instagram.com/hariharan.jayakumar/ TimeStamps: 0:00 - America’s Used Car Crisis Introduction 0:49 - The Lease 5:39 - The Cars That Never Arrived 9:59 - Debt That Follows Sources: https://pastebin.com/x1nrhr6j

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