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re: Americans Falling Behind on Car Payments: Delinquency rate on subprime auto loans records
Posted on 10/10/25 at 10:48 am to thegreatboudini
Posted on 10/10/25 at 10:48 am to thegreatboudini
quote:
quote:
Nearly 20% of loans and leases now exceed $1,000 in monthly payments.
That is absolutely insane.
Poor people will always be poor people.
Only insane with a long term loan, which I suspect most are. 3 to maybe 5 years at over 1000 per month isn't too bad depending on the vehicle. No one should ever have an auto loan over 5 years.
0
Posted on 10/10/25 at 11:07 am to ragincajun03
quote:
lower-income families, have resorted to buying used cars
This higher-income family has never bought a brand new vehicle, nor does it have any intention of ever doing so.
Posted on 10/10/25 at 11:29 am to ragincajun03
I think there are several layers to this.
The cost of anything and everything has sky rocketed so that does play a huge roll in this.
There is some personal financial issues as well though
The cost of anything and everything has sky rocketed so that does play a huge roll in this.
There is some personal financial issues as well though
Posted on 10/10/25 at 11:31 am to ragincajun03
Ha! I'm 2-3 ahead on mine
Posted on 10/10/25 at 11:52 am to BluegrassBelle
quote:
I mean is anyone here shocked when the absolutely bottom base model of something like a F-150 starts at around $40k.
Even the base model of the ancient arse Chevy Express cargo van starts at just under $43k.
This post was edited on 10/10/25 at 11:53 am
Posted on 10/10/25 at 12:23 pm to ragincajun03
Well they're fricking expensive, so there's that.
Posted on 10/10/25 at 12:27 pm to ragincajun03
quote:
and Wall Street has kept buying subprime auto loans
For titty-fricking Christ's sake, just let wall street eat it this time.
If we go into a depression over bailing out those retards for sub-prime auto loans, a stronger race needs to take this country over.
Posted on 10/10/25 at 12:39 pm to ragincajun03
Has BabyTac chimed in yet about how people should only buy vehicle with cash that they have on hand and can afford and if that means getting a 98 Ford Taurus with 350k miles on it to get you to your job reliably so be it
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