Quick! To the Dodge Dealership!

"CarsofFortLangley - Oppo Forever" (carsoffortlangley) 06/13/2019 at 10:56 • Filed to: None

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Take advantage of that 11.9% financing rate. You know a rate like that won’t stick around for long!!

Grindintosecond > CarsofFortLangley - Oppo Forever 06/13/2019 at 11:21

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In 1979 my parents got one of the last 12% mortgage loans around....everything was much higher. It was not a good time to be arpund in a post OPEC oil cutoff and post ‘ nam moneyburn. Country was catching up and 11% was competitive!

boredalways > CarsofFortLangley - Oppo Forever 06/13/2019 at 11:35

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I wish they would hurry up and bring back the Ramcharger!

CarsofFortLangley - Oppo Forever > boredalways 06/13/2019 at 11:36

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Seriously. How hard can it be to slap a Dodge grill on a Jeep

boredalways > CarsofFortLangley - Oppo Forever 06/13/2019 at 11:55

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Or even get ting rid of rear doors on a Dodge Durango?!

fintail > CarsofFortLangley - Oppo Forever 06/13/2019 at 11:56

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When I was a little kid, my parents faced mortgage rates well over 10%.  But at the same time, the houses were much more affordable, so it was still an enormous bargain compared to today.

Grindintosecond > fintail 06/13/2019 at 13:51

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Check the inflation calculator. Youd be surprised what corrected values are today vs. Then. So if we sa y houses were more affordable in th e 60s and 20 cent gas was cheap, well, the dollar then is worth $7 today. And paychecks were 1/7 of todays.

Houses bought at 10+% in late 70s also went up in value quickly so by 79 you had equity to move. A 1988 dollar is 2 dollars today... Things like that surprise. I think there’s a minimum wage chard showing pay corrected for historical inflation....really intetesting.

fintail > Grindintosecond 06/13/2019 at 14:12

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Unfortunately, housing is regional on top of the inflation calculator. In my backyard, houses that were 60 K in 1979 are 1.5MM now. 4.5% vs 12% interest won’t compensate for that, and I won’t even get into how real wages have stagnated/devolved, along with the costs of healthcare and education. A certain generation or two had really good luck/timing.

Cars on the other hand, are real bargains. Nice 500 SEL in 1992 = 85K. You can get it for no more than 120K now.