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An Auto Loan Debt Crisis Looks Imminent
automoblog.net ^

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 ...


TOPICS:
KEYWORDS: auto; automotive; credit; debt; financing; loan
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1 posted on 11/04/2023 10:56:23 AM PDT by RomanSoldier19
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To: RomanSoldier19

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.


2 posted on 11/04/2023 10:58:51 AM PDT by FlingWingFlyer ('Build Back Better' is a Bidenskyyyyyyism for 'we gotta get rid of all dem white peoples'.)
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To: RomanSoldier19

I’m fixing to buy my company car soon when I get a new one.

I’m paying cash


3 posted on 11/04/2023 11:00:44 AM PDT by cyclotic (It's a great time to live in America. It's like the collapse of the Roman Empire except with wi-fi)
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To: RomanSoldier19

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.


4 posted on 11/04/2023 11:01:40 AM PDT by ChuckHam
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To: RomanSoldier19

Hopefully a “crisis” will put some downward pressure on the ridiculous prices of new and used cars.


5 posted on 11/04/2023 11:05:00 AM PDT by glorgau
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To: FlingWingFlyer

“.. this will get him reelected.,”This is insane. I guess true Surrender Monkeys never takes day off.


6 posted on 11/04/2023 11:13:15 AM PDT by jmaroneps37 (Freedom is never free. It must be won rewon and jealously guarded.)
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To: RomanSoldier19

Iallegedly and the economic ninja have been warning of this for quite some time.


7 posted on 11/04/2023 11:14:43 AM PDT by patriot torch (..)
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To: RomanSoldier19

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.


8 posted on 11/04/2023 11:16:46 AM PDT by ConservativeInPA (Rebuild the Temple.)
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To: All
average new car payment in Q3 2023 reached $736 per month

Seriously?
9 posted on 11/04/2023 11:18:07 AM PDT by mmichaels1970
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To: RomanSoldier19

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.


10 posted on 11/04/2023 11:18:53 AM PDT by ClearCase_guy (They say "Our Democracy" but they mean Cosa Nostra.)
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To: RomanSoldier19

Nah, can’t happen.

Stansberry Research say everyone has so much cash there can’t possibly be a recession. /s


11 posted on 11/04/2023 11:20:08 AM PDT by citizen (Put all LBQTwhatever programming on a new subscription service: PERV-TV)
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To: RomanSoldier19

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.


12 posted on 11/04/2023 11:24:00 AM PDT by Colinsky
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To: RomanSoldier19

Soon you won’t be able to get financing on ICE vehicles.


13 posted on 11/04/2023 11:24:07 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: RomanSoldier19

I’m glad my 26 year old car is bought and paid for.


14 posted on 11/04/2023 11:25:22 AM PDT by ducttape45 (Proverbs 14:34, "Righteousness exalteth a nation: but sin is a reproach to any people.")
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To: RomanSoldier19

The electric vehicle manufacturers hardest hit. Yawn.


15 posted on 11/04/2023 11:27:06 AM PDT by quantim (Victory is not relative, it is absolute. )
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To: Colinsky
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.





"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!"

16 posted on 11/04/2023 11:30:20 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: dfwgator

lol I still watch Johnny Carson each weekday night on Antenna TV.


17 posted on 11/04/2023 11:34:55 AM PDT by citizen (Put all LBQTwhatever programming on a new subscription service: PERV-TV)
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To: RomanSoldier19

Meanwhile......... at auto auctions cars and trucks aren’t selling. Prices too high


18 posted on 11/04/2023 11:37:03 AM PDT by bert ( (KWE. NP. N.C. +12) Joe Biden is a kleptocrat)
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To: dfwgator

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.”


19 posted on 11/04/2023 11:40:34 AM PDT by Colinsky
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To: cyclotic

I just bought a new 2023 F350 and payed cash. Screw those auto loan rates.


20 posted on 11/04/2023 11:41:21 AM PDT by Kevin in California (EP)
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