There’s a very sound reason to not buy a new car, given the (s)election of El Presidente Biden. It is that the incoming jefe seems determined to make whatever you buy in 2021 or thereafter a worthless car by 2030.
If it’s not an electric car.
Other cars face rapid devaluation – via regulations aimed at assuring nothing other than electric cars will be available for sale after 2030, which is nine years from now and not much longer from now than a typical new car loan.
Would you sign up for a mortgage today if you suspected that nine years hence the home will be impossible to resell? Or that you’re likely to get hosed on the resale of it, because of a law that made it unappealing to buyers nine years hence?
Such as a law mandating apartment living? With codicils applying all sorts of expensive restrictions to single family homes?
By the time you’ve paid off your 2021 whatever-it-is (if it isn’t an electric car) it’s doubtful anyone will want to pay you anything for it – its value having been doubly depreciated by the mandated obsolescence of its species and the add-on whammy of prospective buyers knowing that if they buy your automotive Aurochs, they may not be able to use it for much – el Jefe’s Green New Deal likely to encompass exclusions on the use of other-than-electric cars in places people might wish to be able to drive, such as to their job.
There is also the near-certainty of “incentives” being applied to chill the desire to purchase of a non-electric car, such as taxes applied to the fuel they use – in the manner of the taxes applied to Freon (R12) air conditioning refrigerant. You can still buy it – if you can afford to spend $100 per can, $95 of that being taxes specifically intended to “nudge” people to buy other-than-Freon refrigerants.
Which they have.
Freon – which as recently as the mid-1990s – was the refrigerant used in almost all vehicle AC systems – is now used in no vehicle AC systems, except for those made before the mid-1990s. Which have AC systems that are now much more expensive to service, which reduces their value because of their cost.
It is already being applied to the manufacture of non-electric cars via federal regulations that only electric cars can comply with, such as the pending “mandate” el Jefe has promised he’ll impose requiring that all new cars average at least 50 MPG by – here comes that curious number again – 2030.
The only cars that can meet this “mandate” are partial-electric cars (hybrids) but those are deemed unacceptable because they aren’t considered “zero emissions” cars. Only pure-blooded electric cars qualify for that honorific, no matter how high their aggregate emissions (what is emitted during their manufacture; what is emitted at the utility which generates the power they need, etc.)
Again, it won’t be illegal to make – or buy – a car that isn’t electric. It will just be made exorbitantly expensive. This will reduce the buying thereof, which in turn reduces the manufacturing thereof.
Manufactured scarcity – for the sake of forced abundance.
But not even that since abundant doesn’t mean affordable.
EVs are meant to be unaffordable, in order to make them rentable. This isn’t conspiracy theory but economic fact, unless by dint of some alchemy the purchasing power of the average American is increased such as to offset the cost of the EV.
The person who can afford an $18,000 non-electric car will need to come up with another $12,0000-$15,000 to be able to afford its electric car equivalent (which it isn’t, really, other than in terms of its size; the EV having half the range and forcing its owner to plan his day around recharging sessions).
Is it likely the average American will be earning more next year – or the year after – than he earned before the manufactured hysteria over “the virus” destroyed his business or curtailed his work by half?
Where, then, will he get the money to buy the electric car el Jefe intends to force him to drive? Perhaps el Jefe will simply – per Gilligan, in one of those episodes of classic TV sitcoms that was both funny and instructive – give them this, that and the other thing.
It is, after all, what 80 million of them supposedly voted for.
. . .
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