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The advertised discounts and cashbacks are getting crazy, never mind the other specials that are around. But then so are the credit terms being offered: up to 7 years to pay off on something which doesn't hold any value near that long.
Manufacturing over-capacity and the cumulative effect of years of steadily better terms have brought this about. I read recently that 70%-80% of people buying cars on credit owe more than their car is worth. If the carmakers didn't make outrageous offers, sales would dry up.
It's anyone's guess how long before the bubble bursts, because every time the price of new vehicles drops, the price of used models takes a tumble too. That simply makes the overall situation worse.
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