How many 2007 Escalades owners default on debts smaller than $1500 and have one car for the whole family? Zero?
It would absolutely shock you.
I was in a showroom one time and a customer was looking at an Escalade. We went to test drive a Lincoln. Whn we got back, the police were there. It seems Mr Escalade Buyer was suprised when his wife showed up at the dealership and stopped the buying process. She then proceeded to mop the showroom with his battered body.
The punch line? The Finance guy said the guy had such a low credit score, he couldn't have bought the car anyway. So the guy gets a butt kicking and his wife goes to jail. Meanwhile, he rolls his Electra 225 out of the lot in shame.
"How many 2007 Escalades owners default on debts smaller than $1500 and have one car for the whole family? Zero?"
The key word here is "owners". Few people who drive Escalades, or any new car for that matter, do not "own" the vehicle. They are most likely making payment for 60 months.
When my son & his wife boast that they "own" two homes, they get this response from dad...."No, you don't own them, you're in debt up to your ears for 30 years while 'buying' them."