LeftieBiker wrote:During the CFC program you could suddenly trade in your POS gas guzzler for a new economy car that would cost less overall to run than keeping the guzzler going. That situation hasn't been duplicated since, and the economic recovery, to the extent that the working poor had one, has soured for them.
As bolded by GRA, the study noted how the rate that higher income
households are holding onto their cars longer is increasing faster than low income ones. CfC doesn't explain that, because if anything that old POS gas guzzler would be more likely to have been driven by someone who simply cannot afford to replace it otherwise.
I think that most of the Middle Class is now leasing new cars rather than buying them, although I don't have figures for that.
Some brands are more likely to be leased (I think BMW holds the record at something like 3 out of every 4 are leased) as are certain segments like EV's. Yet, according to this article, overall less than 30% of all new cars sold in the first quarter of 2018 were leased: https://www.statista.com/statistics/453 ... lease-usa/
That's a slight drop from a year earlier, when 31% were leased. So I would not say the majority of middle class buyers are leasing. They're more likely to take out a 7 or 8 year loan than lease.
US News and World Report is also quoting a 30% figure for 2018: https://cars.usnews.com/cars-trucks/buying-vs-leasing
Blue Ocean 2012 Leaf SV, lost that 1st bar at 34 months/26,435 miles. Lease returned 2 months later. Final LeafStat figures: 225 Gids, 17.44 kWH, SOC 91.89%, SOH 82.36%, 69.49% HX, 54.57 Ahr, battery temp 61.8 F.
Now driving a 2015 VW eGolf SEL.