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A record 7 million Americans are 3 months behind on car payments
Posted on 2/12/19 at 1:09 pm
Posted on 2/12/19 at 1:09 pm
quote:
A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis era.
quote:
Repossessing a car is also a quicker process thanks to technology and the laws in many states. Some cars are installed with devices that prevent the car from turning on if someone misses a payment. It has also become easier to track license plates and geo-locate a car to repossess it. “It’s a lot easier to repossess a vehicle than to foreclose on a home,” Taiano said.
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Posted on 2/12/19 at 1:11 pm to weagle99
The John Oliver episode on buy here pay here car lots is really good and shines a light on what a scam they are.
Posted on 2/12/19 at 1:11 pm to weagle99
Breaking News: A percentage of the population is piss-poor at managing money
This post was edited on 2/12/19 at 1:13 pm
Posted on 2/12/19 at 1:11 pm to weagle99
Hard for some to keep current on those $900, 97 month loans
Posted on 2/12/19 at 1:11 pm to weagle99
8 million govt workers were without pay for 35 days
That is why
That is why
Posted on 2/12/19 at 1:12 pm to weagle99
Am I supposed to be shocked? Appalled? Angry? Sad? Because I’m not any of those things.
Pay your damn bills, people.
Pay your damn bills, people.
Posted on 2/12/19 at 1:12 pm to weagle99
Those 120 month F-350 loans are starting to backfire.
Posted on 2/12/19 at 1:15 pm to TheFonz
quote:
Pay your damn bills, people.
Ya, and if the rich would pay their fair share we would have enough money to give people who need a car one for free so they wouldn't have to go through the embarrassment of having their property stolen.
Posted on 2/12/19 at 1:15 pm to weagle99
TIL 3 out of every 100 adults in the USA are behind on car payments by 90 days or more. There's roughly 250 million 18+ year old people in the US. if 7 million of the are behind 90 das that's 2.8%, but I rounded up because not all adults own cars. I was being generous. It is probably closer to 6-7% of all car owners are 3 months behind if I had to guess.
Insane.
Insane.
Posted on 2/12/19 at 1:16 pm to weagle99
That's what happens when you buy a brand new car making $40k/year with three kids and student loan debt. Keeping up with the Jones's when you can't afford to just so your Facebook and Snapchats look cooler is idiotic.
Posted on 2/12/19 at 1:17 pm to HailHailtoMichigan!
quote:
8 million govt workers were without pay for 35 days
That is why
Posted on 2/12/19 at 1:17 pm to weagle99
My wife's friend just bought a new Yukon, one level below the Denali.. Her car note is over 750 a month...
Good thing she's a CRNA....
That's why my wife bought a Traverse 3LT.. Has all the bells and whistles of the Tahoe and actually more sq feet on the inside, but 20k cheaper...
Good thing she's a CRNA....
That's why my wife bought a Traverse 3LT.. Has all the bells and whistles of the Tahoe and actually more sq feet on the inside, but 20k cheaper...
This post was edited on 2/12/19 at 1:25 pm
Posted on 2/12/19 at 1:18 pm to Displaced
quote:
buy here pay here car lots
Could you even imagine your vehicle not starting because you haven't paid the bill? Your credit has to be so bad for one of these lots to be your only option for a vehicle, I cannot feel bad for you. You have obviously already made tons of poor choices in life.
Posted on 2/12/19 at 1:21 pm to weagle99
I'm glad I own all my shite, having to owe is a stress that I'd hate. Seems like people allow it to cut years off their lives.
Posted on 2/12/19 at 1:21 pm to Centinel
quote:
Ya, and if the rich would pay their fair share we would have enough money to give people who need a car one for free so they wouldn't have to go through the embarrassment of having their property stolen
You can’t make it this obvious and still expect people to bite
Posted on 2/12/19 at 1:22 pm to weagle99
That's what happens when the car companies keep raising the prices of their vehicles. Then the government will use our tax dollars again to bail these companies out, when people can't afford to buy their overpriced products.
Posted on 2/12/19 at 1:22 pm to weagle99
Wasn't there a thread on here about a dude who bought a used truck at like 18% and 60 months? That was a fun read.
This post was edited on 2/12/19 at 1:23 pm
Posted on 2/12/19 at 1:26 pm to weagle99
3 months out of 96 isn't that much.
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