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Started By
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re: Credit card and car loan defaults hit 10-year high
Posted on 9/6/23 at 9:18 pm to SonicAndBareKnuckles
Posted on 9/6/23 at 9:18 pm to SonicAndBareKnuckles
quote:
Does anyone here know a place where a baw can refi a truck loan to 144 months?
I got a peach of a deal using Baker's Dozen Autohaus.
0
Posted on 9/6/23 at 9:19 pm to stout
Send another $50BB for Ukraine!
Posted on 9/6/23 at 9:53 pm to slackster
quote:
It hasn’t been this high since 2013, but prior to that, it was basically never this low
Thanks for the research. Never know how to take this kind of info. Especially when the artcle doesn't normalize the info.
Your post should be starred at the top
Posted on 9/6/23 at 10:07 pm to tigersmanager
quote:
Inflation is hurting middle class and poor
All part of the managed decline.
Posted on 9/6/23 at 10:10 pm to stout
In a world with 84+ month financing and $100,000+ F250s, this is the only truck you should think about financing:
Posted on 9/6/23 at 10:18 pm to Ronaldo Burgundiaz
quote:
this is the only truck you should think about financing
THEY GOT US WORKIN’ IN SHIFTS!
Posted on 9/6/23 at 10:53 pm to stout
This post has been marked unreadable!
Posted on 9/6/23 at 10:58 pm to slackster
quote:Awww man someone always has to come in a shite down stout's doom porn. let us have this one.
It hasn’t been this high since 2013, but prior to that, it was basically never this low.
Posted on 9/6/23 at 11:16 pm to fightin tigers
quote:I posted earlier this week on the 3% figure. I spent about 15 years in Lending, consumer and commercial.
Perspective, what is a normal rate?
Less than 1 or less than 3.5?
The entire loan industry from AAA++ through F is built around 3%.
If delinquency is higher you're giving away money and all profit. Tighten up on qualifications.
If delinquency is lower you're missing opportunities. Loosen up.
Lenders who do not hover right at 3% lose investors to those that do hover. (stock market, can mean critical cash flow problems)
Also need to watch for non-performing lenders to try to dump inventory by using the debts as security to issue more debt (bonds)
Posted on 9/6/23 at 11:16 pm to A Menace to Sobriety
quote:
Brandon is a piece of mother fricking garbage and can eat the fattest part of my mother fricking arse.
quote:
frick you to the idiots who voted for him too. Thanks for making this country 10000x because you have absolutely zero brain cells.
The President of the United States didn’t make you get a 84 month lease on a F250
Remember, it’s more important what you do in your house than what happens in the White House
Posted on 9/6/23 at 11:52 pm to thejuiceisloose
And a loan on a bass boat and a camper while refinancing your double wide. BTW can I finance a boob job too?
Posted on 9/7/23 at 12:02 am to stout
Had a die hard Democrat [a retiree] tell me that he “couldn’t understand why people are so frustrated with Biden because the economy is so good right now”. I chose not to engage with someone whose head is clearly buried so deep in the sand and up his arse.
Posted on 9/7/23 at 12:16 am to A Menace to Sobriety
quote:
frick you to the idiots who voted for him too.
Agree and screw the idiots that are going to give us the same two garbage choices in 2024. I don’t trust rich octogenarians who haven’t pumped their own gas in decades (or ever) to fix the problems that ordinary people face in 2023.
Posted on 9/7/23 at 12:17 am to stout
quote:
This year, credit card delinquencies have hit 3.8%, while 3.6% have defaulted on their car loans, according to credit agency Equifax.
I’m frankly surprised default rates on car loans are this low. Great job, Americans.
quote:
There are 70 million more credit card accounts open now than before the pandemic in 2019
And this seems hard to believe
Posted on 9/7/23 at 12:25 am to stout
Vote Democrat, get Democrats
Posted on 9/7/23 at 6:02 am to TIGRLEE
quote:
There’s one cause of this. People want to live above their means.
Well, peoples means have decreased significantly in the past 2-3 years. DC has told people inflation is not as bad as they think, and temporary. They also haven’t stopped borrowing or spending or given any sort of signal that it’s time to tighten up.
The one cause is the lack of responsibility this country seems to have.
Posted on 9/7/23 at 6:08 am to thejuiceisloose
quote:
Remember, it’s more important what you do in your house than what happens in the White House
People will never accept this. We threw personal responsibility out the window a long time ago. Everyone deserves everything they want no matter what. Financial repercussions be damned.
Posted on 9/7/23 at 6:15 am to ronricks
Someone needs to do a meme replacing playoffs with savings... 
Posted on 9/7/23 at 6:17 am to JohnnyKilroy
quote:
Awww man someone always has to come in a shite down stout's doom porn. let us have this one.
I’ll throw him a bone that the trend isn’t great at all. They weren’t going to stay historically low forever, but they’re increasing rapidly.
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