Posted on 11/04/2023 10:56:23 AM PDT by RomanSoldier19
With auto loan rates at historic highs, rising payments, and mounting consumer debt, the auto lending industry is facing an inflection point.
With lenders continuing to tighten restrictions and some even deciding to leave the consumer auto loans market, the stage is set for what could become a full-blown auto loan debt crisis.
But how impactful such a crisis would be and how the industry can navigate its way out remains to be seen.
(Excerpt) Read more at automoblog.net ...
Pedo Joe is going to have to “help us” by cancelling our car loans. This is gonna get expensive but it will get him reelected.
I’m fixing to buy my company car soon when I get a new one.
I’m paying cash
The more people that go on the dole the fewer there are that can buy expensive cars. It’s a death spiral brought on by your socialist/fascist government.
Hopefully a “crisis” will put some downward pressure on the ridiculous prices of new and used cars.
“.. this will get him reelected.,”This is insane. I guess true Surrender Monkeys never takes day off.
Iallegedly and the economic ninja have been warning of this for quite some time.
Americans are also carrying a trillion dollars of credit card debt. No wonder no one gives a crap about government spending and the federal debt.
Car loans
Credit card debt
Mortgage rates
Education loans
Government debt
Recession coming up.
We’re surrounded by pools of oil and barrels of gunpowder. Just need a match to light it up.
Nah, can’t happen.
Stansberry Research say everyone has so much cash there can’t possibly be a recession. /s
Most car loans are doing fine. It’s the subprime loans that are in big trouble, but they’re a small part of the overall car loan industry.
Soon you won’t be able to get financing on ICE vehicles.
I’m glad my 26 year old car is bought and paid for.
The electric vehicle manufacturers hardest hit. Yawn.
"Got no job? We don't care. Got a bad credit rating? We don't care. Got a prison record? We don't care. Don't expect to pay us? THAT'S when we care!"
lol I still watch Johnny Carson each weekday night on Antenna TV.
Meanwhile......... at auto auctions cars and trucks aren’t selling. Prices too high
We used to have a local RV dealer whose TV commercials ended with, “Out of work? Bad credit? Bankrupt? Come back when things get better.”
I just bought a new 2023 F350 and payed cash. Screw those auto loan rates.
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