News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
Inflation doesn't help you on a loan unless you are actually getting Inflation level raises, otherwise you have the same amount of dollars and everything else is more expensive. Also mathematically cars go down in value, so you are paying interest on money that you lost, making that loss greater.
That's the whole reason this crisis exists, because Cara with 30k are being repossessed on loans with 40k in principal left.
It does help when you're comparing it to someone with a big pile of cash to buy outright versus buying with a low interest loan. That cash can be invested and give you great returns while the cost of your loan goes down with inflation.
Even high yield savings accounts are giving ~4% interest right now with zero risk meaning someone with a 2% loan would be earning 2% interest on that cash and driving a new car while the person who bought outright is earning 0% interest while driving the same new car.
To further demonstrate the point using an extreme example, imagine you bought a brand new car 40 years ago for an MSRP of $5,000 with a 50 year low interest loan. You'd currently be paying that $5,000 loan using 2023 dollars which are worth 209% more than they were in 1983 while the loan is fixed at 2% (or whatever). That $5,000 cash you had in 1983 is now $15,000 in your bank account while you still get the benefit of driving the car over all that time.