Toyota GR Corolla Forum - Release Date, Specs, Pricing Discussion banner
801 - 820 of 908 Posts

·
Registered
Joined
·
720 Posts
3.9 to 6.9 is a likely bet. They don’t have to subsidize the rate to make a sale anymore so they won’t. Hopefully the Fed slows their roll on these interest rate increases. They will slow down the economy but to bring down inflation they’ll have to destroy it. Inflation is currently a global phenomenon, driven by scarcity. I feel like the fed is using tools from an expired paradigm…
Global to an extent. Many 1st world countries have inflation rates much lower than the US. Even some 3rd work countries have lower inflation rates than the US, including our neighbors just south of the border. Don't want to get political, but if Mexico has a lower inflation rate than the USA, the person in the oval office needs to step up and take fucking responsibility.
 

·
Registered
Joined
·
138 Posts
God I wonder sometimes how the average American has such bad credit. I bought my IS350 F Sport at 1.9% and my house is at 2.0%. 😂
The problem isn't bad credit. the current home mortgage rate with good credit is like 5.75%. I think those with bad credit just won't qualify now or they will pay like 8-10%.
 

·
Registered
Joined
·
59 Posts
Global to an extent. Many 1st world countries have inflation rates much lower than the US. Even some 3rd work countries have lower inflation rates than the US, including our neighbors just south of the border. Don't want to get political, but if Mexico has a lower inflation rate than the USA, the person in the oval office needs to step up and take fucking responsibility.
What 1st World Country has a substantially lower current inflation rate than the US?
 

·
Registered
Joined
·
59 Posts
And Mexico’s annual inflation rate as of May is 7,6 percent. The rate for “goods” is over 10%. It’s roughly the same as ours except I’d expect that the cost of fuel is lower with a nationalized oil and gas company, which is anathema in the US.
 

·
Registered
Joined
·
720 Posts
What 1st World Country has a substantially lower current inflation rate than the US?
Please don't put words in my mouth to justify your misinformation, I never said substantially lower. But after doing a quick search, here are the 1st World countries with a SUBSTANTIALLY lower inflation rate than the USA. I have also included a color coded inflation map of the world from Pew research.
France, Portugal, Japan, South Korea, China (debatable as a 1st world country), Indonesia (again debatable as a 1st world country), Norway, Sweden, Finland, and Saudi Arabia. The map also includes a bunch of 1st world countries and some 3rd world countries with inflation rates lower (NOT SUBSTANTIALLY, but lower nonetheless) than the USA.
Map World Font Screenshot Atlas
 

·
Registered
☆ 1991 Celica GTFour RC ☆ 2000 Grand Cherokee ☆
Joined
·
257 Posts
The problem isn't bad credit. the current home mortgage rate with good credit is like 5.75%. I think those with bad credit just won't qualify now or they will pay like 8-10%.
Historically isn't that a pretty average rate? We've just been spoiled by really low rates for the last while.
 

·
Registered
2022 Toyota Sienna XSE | Celestial Silver
Joined
·
52 Posts
Rates will have some impact on demand because it's just math. Many will put up the numbers (myself included) and decide if it's worth it at all.

I prefer to work while I can and have good health to do so, because really who knows how this all pans out. Retirement isn't even something I dwell on, even with accounts and such.

I can work past a car note, I do it now with this 2022 Sienna XSE, nothing is cheap about this van... it's $50K+. So the GR Corolla will be the cheapest car I've recently bought. And I will work to cover that cost, I have a good career and am paid well, but I am not above making more money on the side.

Given how the economy is, if you can, get a side hustle... I'll quickly stock shelves somewhere for extra money without hesitation. I'd much rather just have a surplus and be ready and have ample room to buy non-essential items like a fun car.

Not for everyone, but I've been like this since I was 15.
 

·
Super Moderator
Joined
·
537 Posts
I am not above making more money on the side.
Before I finally landed a job with decent pay, I considered starting a side-gig doing IT work/consulting for folks. Depending on how this car looks, I may need to look back into that. My wife also does graphic design, so we both have sidegig capable lines of work. Always good to have a backup plan.
 

·
Registered
Joined
·
59 Posts
Before I finally landed a job with decent pay, I considered starting a side-gig doing IT work/consulting for folks. Depending on how this car looks, I may need to look back into that. My wife also does graphic design, so we both have sidegig capable lines of work. Always good to have a backup plan.
Both my wife and I are in careers with voluntary OT, and mine sporadically puts me on mandatory OT with no days off for our too frequent natural disasters. My wife works voluntary OT, particularly when offered double time. I don't work overtime unless I cannot refuse it. When you go nearly a month with no days off working 13-18 hour long days there is no amount of money that makes more work palatable for me. Our careers have both been recession proof over the last 30 years. I realize that for younger people starting out and trying to get into homeownership, my situation and feelings on additional work is perhaps one of extreme privilege. I'd be the first to say that we are lucky that our choices worked out.
 

·
Registered
Joined
·
24 Posts
Historically isn't that a pretty average rate? We've just been spoiled by really low rates for the last while.
Yep, I would say that is true. This is what drove up home prices as well as car prices (to a certain extent; I know about the chip shortages).

The issue with sports cars and non-essential cars is that interest rates are generally higher.

Wishful thinking but maybe with raising rates demand slows and dealer mark ups frig off.
I think this will eventually happen. That is the whole point of raising interest rates. There's a comfortable range of people that can buy this anyway. However, there are those people that can barely afford a home when the int rates dropped to like 2% and they would now be unable to buy one. Those are the type of people that will be affected by interest rates the most. I could comfortably make a payment at 7.5%, but I do not want to if I don't have to. On the flip side, I am not comfortable putting down more than 5k because that's a large sum of money that could be used elsewhere. I could easily offset 7.5% with investments and still come out net positive.

I also want to mention that dealerships do give preference to buyers that are financing through them and you might have some leeway here if you are and have a good credit score.
 

·
Registered
☆ 1991 Celica GTFour RC ☆ 2000 Grand Cherokee ☆
Joined
·
257 Posts
I prefer to work while I can and have good health to do so, because really who knows how this all pans out.
I'm the opposite, I prefer to work as little as possible while I have my health because I know too many people who have died young. I'd only take a "side hustle" as a last ditch effort to cover bills. There's no way I'd take a minimum wage job to pay for a luxury that I then don't even get to enjoy because I'm too busy working to pay for it.

I have kids which is also a factor. As it stands I already get less time than I'd like with them and I only have a handful of free hours to myself a week. To make it easy I value my time at half of my salary, ie if doing it myself doesn't save me at least that much, I'll pay someone else to do it or not do it.
 

·
Registered
14 FRS
Joined
·
38 Posts
We're going off the rails a bit here, but it's not like we're getting any dealer updates for another month or so.

For sure agree with this mentality, don't have kids early 30s here.

The older I get the more I value my free time, cause I'm probably going to be spending the rest of my life working and who knows if I'll ever be able to actually retire 😂
 

·
Registered
Joined
·
13 Posts
Please don't put words in my mouth to justify your misinformation, I never said substantially lower. But after doing a quick search, here are the 1st World countries with a SUBSTANTIALLY lower inflation rate than the USA. I have also included a color coded inflation map of the world from Pew research.
France, Portugal, Japan, South Korea, China (debatable as a 1st world country), Indonesia (again debatable as a 1st world country), Norway, Sweden, Finland, and Saudi Arabia. The map also includes a bunch of 1st world countries and some 3rd world countries with inflation rates lower (NOT SUBSTANTIALLY, but lower nonetheless) than the USA. View attachment 2494
didn't you get banned previously from going down his road? lol
 

·
Registered
Joined
·
720 Posts
didn't you get banned previously from going down his road? lol
what are you even talking about my guy? How is posting up actual evidence to support my claim that other 1st world countries having a lower inflation rate than the US even remotely similar to what I was banned about previously? Were you always this dumb, or is being ignorant something you recently acquired?
 

·
Super Moderator
Joined
·
1,653 Posts
what are you even talking about my guy? How is posting up actual evidence to support my claim that other 1st world countries having a lower inflation rate than the US even remotely similar to what I was banned about previously? Were you always this dumb, or is being ignorant something you recently acquired?
Calm down. Let’s get back on topic since people are throwing shade.
 

·
Registered
2022 Toyota Sienna XSE | Celestial Silver
Joined
·
52 Posts
I'm the opposite, I prefer to work as little as possible while I have my health because I know too many people who have died young. I'd only take a "side hustle" as a last ditch effort to cover bills. There's no way I'd take a minimum wage job to pay for a luxury that I then don't even get to enjoy because I'm too busy working to pay for it.

I have kids which is also a factor. As it stands I already get less time than I'd like with them and I only have a handful of free hours to myself a week. To make it easy I value my time at half of my salary, ie if doing it myself doesn't save me at least that much, I'll pay someone else to do it or not do it.
I can respect this perspective and I have the same one. I work in IT/Tech my "job" isn't normal by any standards of time... I can work side hustles at the same time I work my normal job (I at one point worked 2 jobs at the same time, just to see if I could pull it off... LOL). And I do understand that is a place of privilege that I can even pull off such a thing.

I also have 3 kids. Money, time, access, etc. etc. it's all tied into the idea of what "life" is. For anyone, it's about balance and finding it, not putting yourself into the ground. Certain lifestyles and desires take work, I could very much dial it back and simplify everything I am doing.

But what fun is that... I and the kids can run around, conquering everything we can, until I am no longer able to.

Now to keep on topic, I did call the two dealers I have bee in contact about the GR and the story remains the same.... they are in the dark. Nothing new.

Toyota will hold onto this price/release information until the bitterest of ends. I suspect we won't get much until the end of July, or early August. I'm HOPING its early July, but I also have my eye on the new Civic Type-R and Honda says their reveal is Summer 2022. Maybe Toyota wanting to be competitive to the very few sport compact cars coming out, will release their info around the same time.
 
801 - 820 of 908 Posts
Top