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Started By
Message
re: US auto repossessions jumped 16% in 2024, to 1.73 million. the highest since 2009
Posted on 4/2/25 at 9:49 am to RogerTheShrubber
Posted on 4/2/25 at 9:49 am to RogerTheShrubber
quote:
More competition is needed. More innovation needed.
Yep. Remove tariffs on Chinese EVs.
1
Posted on 4/2/25 at 9:51 am to Powerman
quote:
Yep. Remove tariffs on Chinese EVs.
This is badly needed.
Posted on 4/2/25 at 9:51 am to stout
quote:
A lot of those are illegals. Are illegals getting auto loans?
Yes, if they are using stolen or borrowed ss#.
Can also have a cosigner.
Posted on 4/2/25 at 10:01 am to RogerTheShrubber
quote:
This is badly needed.
Would probably force Tesla to stop tinkering with stupid shite like the cyber truck and actually offer the affordable EVs that grifter Elon promised then backed away from.
Posted on 4/2/25 at 10:12 am to tigeraddict
quote:
Is it affordability or people trading in a 3 year old vehicle with a 84 month loan that they are upside down on and rolling that over into the next vehicle.......
Good video describing this, plus the 'mark ups' causing people to pay $1k, $5k or more [remember seeing a dealer ask $100k premium above sticker for a Hellcat] over MSRP.
When dealers started making bank on their 'market adjustment' demands, manufacturers wanted in on the game. As shown in the video, next year models, unchanged were bumped up in price.
Negative equity is killing many folks -- and I'm waiting to see if bankruptcies start to jump up.
I can't even imagine being in the great world the thread OP lives in -- most of our vehicles are 15 - 20 years old.
Posted on 4/2/25 at 10:20 am to stout
Impossible.
Many posters here have told me that 2021-2024 was the greatest economy the world has ever known and not a single person was struggling with anything until Blumph started ranting about his confusing tariffs.
Many posters here have told me that 2021-2024 was the greatest economy the world has ever known and not a single person was struggling with anything until Blumph started ranting about his confusing tariffs.
Posted on 4/2/25 at 10:28 am to stout
I have been telling people car prices were going up without tariffs every single year it didn't fricking matter if there's a tariff on them or not greed by manufacturers and dealerships drove prices up tremendously. They don't give a frick as long as they can get you financed
This post was edited on 4/2/25 at 10:29 am
Posted on 4/2/25 at 10:29 am to stout
quote:
With tariffs on the autos
Yep.
It's only about to get worse.
Posted on 4/2/25 at 10:30 am to burke985
quote:
greed by manufacturers and dealerships drove prices up tremendously.
Is that you, Joe Biden?
Posted on 4/2/25 at 10:32 am to stout
quote:
Are illegals getting auto loans?
Yes.
Posted on 4/2/25 at 10:42 am to stout
Who would have thought $1000 monthly payments for 80 months would cause this.
Posted on 4/2/25 at 10:54 am to stout
quote:
I decided I am going to keep my two trucks until the wheels fall off. One is a 2018 and the other is a 2020
Laughs in 2006 Tundra with 223K. frick new car prices. Looks like I need to go ahead and stock up on water pumps, timing belts, and lower ball joints because I'm going to have to keep that bitch running for a while.
Posted on 4/2/25 at 10:56 am to burke985
quote:
greed by manufacturers and dealerships
What makes them greedy?
Posted on 4/2/25 at 11:17 am to stout
The auto workers have negotiated some really sweet contracts in recent year. We are approaching a breaking point for the auto industry.
Posted on 4/2/25 at 11:57 am to stout
quote:
US auto repossessions jumped 16% in 2024, to 1.73 million.
This comes as consumers’ auto delinquencies have also risen sharply.
That's how it usually works.
Posted on 4/2/25 at 12:08 pm to captainFid
quote:
Negative equity is killing many folks -- and I'm waiting to see if bankruptcies start to jump up.
When you start looking at consumer debt and GDP, you see that an ever-increasing amount of GDP growth is coming solely from more consumer debt creation. That's a house of cards and the recessionary winds are starting to blow.
The early warnings of this will be car loans and credit cards. When it happens we'll see growth in the various past due time periods, but the real tell will be when the defaults start growing (and we're seeing this right now with vehicle repos). If we're still in a recession when credit card defaults start spiking, bankruptcies will not be far behind due to so many consumers already living off creating debt while only servicing what they already have.
Posted on 4/2/25 at 12:19 pm to stout
This could easily be fixed. Roll back CAFE and safety standards to let manufactures make some entry level trucks with no frills to include all of the computerized BS. I have never understood why we have car safety standards but yet we let people ride motorcycles without helmets. It's all just a money grab, IMO.
Posted on 4/2/25 at 12:22 pm to stout
I keep forgetting to mention this.
Deduct your interest buying American.
Deduct your interest buying American.
Posted on 4/2/25 at 12:39 pm to stout
I have no sympathy for the lenders or the auto manufacturers at all. They created this mess by inserting all the ridiculous technology in cars that are part of driving up prices. Then the lenders turn a blind eye to their credit risk by financing depreciating collateral for 7-8 years. ??
It's a recipe for disaster that going to get worse.
The root cause today is not the same as the issue in 2009. People were losing houses and jobs in 2009, today they have jobs but cost of living is not supported by the income.
It's a recipe for disaster that going to get worse.
The root cause today is not the same as the issue in 2009. People were losing houses and jobs in 2009, today they have jobs but cost of living is not supported by the income.
Posted on 4/2/25 at 12:43 pm to Hodag
quote:
Many posters here have told me that 2021-2024 was the greatest economy the world has ever known
Who? Where?
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