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re: Trump Administration is reportedly working on 15 year car loans
Posted on 11/10/25 at 6:02 pm to Harry Caray
Posted on 11/10/25 at 6:02 pm to Harry Caray
exactly. That and their Treasury secretary is a full blown gay.
0
Posted on 11/10/25 at 6:03 pm to NawlinsTiger9
Dumb and gullible. As I've said, they're told what to think by those idiots.
Posted on 11/10/25 at 6:03 pm to stout
quote:You don't clean off the bull when he's done with your wife? You're missing out!
That wasn't a gay joke, dummy
Posted on 11/10/25 at 6:05 pm to BluegrassBelle
quote:
hile also paying twice it's value in interest. Sounds fantastic
Kind of like mortgages.
Posted on 11/10/25 at 6:09 pm to Harry Caray
quote:
You're missing out!
Thanks for sharing your experience, but I will have to take your word for it
Posted on 11/10/25 at 6:13 pm to stout
Trump, a true champion for the working man. 50 year home loans and 15 year car loans. He will push for laws making it mandatory half the interest on these loans go to Israel.
This post was edited on 11/10/25 at 6:14 pm
Posted on 11/10/25 at 6:14 pm to SelaTiger
quote:Gotta throw in some kickers for Argentina too baw
Trump, a true champion for the working man. 50 year home loans and 15 year car loans. He will push for laws making mandatory half the interest on these loans go to Israel.
Posted on 11/10/25 at 6:16 pm to VaBamaMan
quote:
Like with college degrees, prices will just skyrocket. this does NOT help the little man.
make no mistake, this is all being done for the bankers
Posted on 11/10/25 at 6:16 pm to stout
quote:
Yea I read up on it a bit but having one less subprime lender still hurts the used car market
Yeah it’s a bad deal and is going to impact all auto lending originators ability to raise capital. I’m buddies with the guy from JPM who was managing their tri-color portfolios and needless to say I think he’s looking for a job.
quote:
Maybe what the Trump admin is working on.
I really hope not. Loan guarantees at that scale are no bueno plus they would have to print a shite ton of money to cover it. Even residential tagged loan guarantee programs with UCC1s are difficult to do anything with.
Posted on 11/10/25 at 6:19 pm to Gifman
quote:
Won't this just jack up the prices of homes and cars? Alot of dumb people purchase according to what their monthly payment will be.
You are correct and correct
Posted on 11/10/25 at 6:22 pm to stout
This is insane. The people who would need a 15 year loan to afford a car are the least likely to be able to pay for the expensive repairs that start hitting after so many years while also still paying a car note. They’ll be crazy upside down on a loan well after the car has outlived its useful life if they buy many brands.
Posted on 11/10/25 at 6:22 pm to GreatLakesTiger24
quote:
I can maybe hear a case for a 50 year mortgage
50 years is insane. You buy a house at 25 years old and you will be paying on it until you are 75. A lot of homeowners will die still owing on their home so... who will own it then? Sounds like a sweet deal for the banks.
quote:
15 year auto is insane
I just ask ChatGPT to look up some information on how long the average American keeps a car for before buying a new one. It says between 8 and 8.4 years, but says the average age of vehicles on the road is about 12.5, 12.6 years old and that reflects people are holding onto cars longer (it didn't say this, but it can also mean more people are buying used).
There will be a lot of people who will have a car note for their entire lives. They are paying a 15 year auto note, when the car is 10-11 years old it will need work done on it that might be too much to pay out of pocket, so they decide to just do some type of trade in where they will not get much at all for the vehicle and then they get a new car that will have the previous car's note added on to it.
Because car dealerships isn't worried about selling cars, they make their money on financing.
But debt... Its the American way.
Posted on 11/10/25 at 6:23 pm to stout
quote:
20-year student loans
Long been the case for professional degrees.
Posted on 11/10/25 at 6:29 pm to stout
Nobody in the Trump administration has said this to be true. Why you spreading these lies?
Posted on 11/10/25 at 6:30 pm to stout
Generational debt…thanks Donnie!
Posted on 11/10/25 at 6:31 pm to stout
If the market can bear this, it should. If not, it shouldn't. The federal government shouldn't be involved, either way.
ETA: I've seen nothing from anyone in the actual administration about this?
ETA: I've seen nothing from anyone in the actual administration about this?
This post was edited on 11/10/25 at 6:33 pm
Posted on 11/10/25 at 6:33 pm to Powerman
quote:
If you're planning to move in 5 years then you shouldn't be getting into a mortgage in the first place. But you definitely shouldn't be getting into a 50 year one where you'll barely pay anything toward the principal.
There is nothing wrong with buying a house that you will be in for less than 5 years.
On a $300,000 loan at 7 percent interest on a 30-year mortgage, you have only paid around $17,000 in principal after 5 years.
Depending on the real estate market you are in, you could make much more than with an increase in value when you sell.
There are lots of variables.
Posted on 11/10/25 at 6:35 pm to Bjorn Cyborg
quote:
There is nothing wrong with buying a house that you will be in for less than 5 years.
The average right now is 8 years
Loading Twitter/X Embed...
If tweet fails to load, click here.Posted on 11/10/25 at 6:35 pm to Gravitiger
quote:Oh the market will be bear that's for sure
If the market can bear this, it should.
Posted on 11/10/25 at 6:36 pm to Gravitiger
quote:
ETA: I've seen nothing from anyone in the actual administration about this?
Because it's all bullshite to get people talking. Even if he really wanted to he knows it would never pass.
This post was edited on 11/10/25 at 6:37 pm
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