I Never Thought I'd Write About This A Third Time
But that damned Erica's friends buy her the Toyota Corolla of her dreams commercial
really annoys me. And one commenter says that the Facebook site shows "out takes" including Erica delivering cupcakes -- unwrapped cupcakes -- from the basket of her bicycle. Oh yeah, she's a professional baker, er, pastry chef.I Really Was Going To Let This Alone
But I had a thought the other night that made me question the motivations of Toyota and their ad agency. Previously I'd mocked them for thinking that just everyone has a bunch o' friends who can fork over three thousand each and buy you that new car you want. And that I thought this terribly out of touch with reality for most people. People buying you new cars, they're probably not buying you a Corolla anyway, at least according to the Lexus and Mercedes Christmas ads. (grin)
So here's the thing -- Erica isn't after the car she needs
for her business, since we've already established that she could probably have saved something to get a useable used ride to delivery her confections. No, she's after the car she wants
. Yes, that brand new Toyota Corolla she can't afford right now is what she wants
, not needs
But... Pause to sprinkle special fairy dust on our special snowflake...
oh look! Here come your special snowflake friends to give
you what you want
. Now here's where maybe I was wrong and this is where it gets insidious and devious. What if they want you to think that because she just got what she wanted, now you are entitled to get what you wanted, too? You're entitled! Just sign here on the dotted line, because you don't need
to cough up the money to pay for something you want
-- at least not at the start. Because we're hurting here and not selling enough cars, so you gotta do your part to help us.Magical Financial Thinking
We have a current financial meltdown we're riding out that has been brought about because financial institutions had been trying to get people to buy the crap out of stuff they want
, not what they need
or can afford
. Guess what? That didn't work.
Recently I was poking around Amazon looking at the current crop of Nikon FX sensor digital SLRs. Having grown up with Nikon 35mm SLRs, I'd like to have some modern digital full-frame equivalent cameras and because I haven't bought any Nikons in a long time, I wanted to see what the current offerings (and prices) were up to. I'd like them. I want them. I don't need them. That's why I haven't spent the couple of thousand dollars on those, and instead am making do with a decent little Sony digital camera with a far more than decent Carl Zeiss lens.
Still, that hasn't stopped me from getting an email from Amazon pointing out that I could buy the Nikon FX sensor digital SLR of my dreams on credit through them. As opposed to buying it on credit with my credit card. Or waiting until I can afford it. (grin) You know, if I was a professional photographer, I'd consider getting a business loan or even a consumer loan to finance the cameras and lenses, if I thought I was going to make enough money. But this would be for me -- so... No.We've Been Doing This To Ourselves For A Long Time
People forget about this, but way back in the mid-70s we started seeing these big three lens projection wide screen televisions. And they sold some to bars and other public venues -- one was installed in the student union at Northwestern -- but after a while that market was saturated. And yet newer units were coming out, as well as the ability to make much larger picture tubes. 36" and 44" picture tube color TVs were unheard of before this. Anyway, in trying to figure out how to market and sell these as consumer items, the electronics industry went to the banking industry -- and the concept of the home improvement loan was expanded into the home equity loan and home equity line of credit.
Can't afford that giant 60" big screen TV? No problem, pay for it through your home mortgage and it hardly costs anything a month... for a lot of months. Pretty soon we had people buying big TVs, Hawaiian vacations and even cars, and paying for them over 10-30 years. A car on a 30-year mortgage? Really? Car loans were still 36-48 months then, not 60 or more months. And cars had to get a lot more reliable to justify paying for them over five or more years. So unless you're buying a Rolls or some really well-built solid car that can last multiple decades, this doesn't make sense. You'll be on your third or fourth car before you've paid off the first one.
And people did this. You could even argue that a home theatre was actually a home improvement and not just a big fancy TV. And at least this form of magical financial thinking had consumer products and income to back up the payments, something that the absurd mortgages of late didn't have.So I'm Worried
Is the Erica Toyota ad a new invitation for people to forget the economic times and just satisfy their lust for a new car? Maybe. At least, at the risk of it being a mean and cynical ploy, it makes more sense than an ad agency and a car company thinking that a bunch of friends can just pony up and buy someone with a marginal business, and not a lot of signs they have a good business plan, a new car. One is trying to instill a new round of magical financial thinking, the other is just fantasy.
In my humble old jaded and cynical view. (evil grin)