Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Americans Are Overdue With Their Car Payments At Highest Rate In Nearly 30 Years
Forbes via MSN ^ | 10/22/23 | Story by Antonio Pequeño IV, Forbes Staf

Posted on 10/22/2023 1:55:57 PM PDT by RomanSoldier19

igher car prices and rising interest rates are hindering car owners’ ability to afford their vehicle payments, as 6.1% of subprime auto borrowers are at least 60 days past due on their loans, the highest percentage in data dating back to 1994, according to Bloomberg, which cited Fitch Ratings.

(Excerpt) Read more at msn.com ...


TOPICS: News/Current Events
KEYWORDS: bidendestroyseconomy; bidenflation; bidenlegacy; bidenomics; bidenrecession; bidenvoters; carpayments; cars; loserjoe; pain
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-71 next last
To: SharpRightTurn

He may have meant when standing at the urinal.


21 posted on 10/22/2023 2:21:57 PM PDT by frank ballenger (“My job is to inform, not to convince.” St. Bernadette Soubirous )
[ Post Reply | Private Reply | To 20 | View Replies]

To: ifinnegan

I think the FORD LIGHTNING F150 is off the market....just Dang!
/$


22 posted on 10/22/2023 2:25:41 PM PDT by Big Red Badger (The Truman Show)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Theophilus

Unsold cars get sent overseas.


23 posted on 10/22/2023 2:26:34 PM PDT by Jonty30 (It turns out that I did not buy my cell phone for all the calls I might be missing at home.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: GrandJediMasterYoda

I have no doubts.


24 posted on 10/22/2023 2:27:45 PM PDT by wally_bert (I cannot be sure for certain, but in my personal opinion I am certain that I am not sure..)
[ Post Reply | Private Reply | To 18 | View Replies]

To: RomanSoldier19

I see people driving Mercedes Benz and Audis that I’m sure have no funds to finance.


25 posted on 10/22/2023 2:29:31 PM PDT by albie
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19

It seems to me that most automobile ads feature black folks.


26 posted on 10/22/2023 2:29:53 PM PDT by ComputerGuy (Heavily-medicated for your protection)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19

27 posted on 10/22/2023 2:33:04 PM PDT by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19

Makes it easier to just rely on public transportation


28 posted on 10/22/2023 2:34:54 PM PDT by bigbob
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19

“Repo man” will be a growth industry.


29 posted on 10/22/2023 2:36:22 PM PDT by lightman (I am a binary Trinitarian. Deal with it!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: escapefromboston

Why not pay off everyone’s debts? What a boon that would be for the economy. (/sarc)


30 posted on 10/22/2023 2:39:13 PM PDT by fhayek
[ Post Reply | Private Reply | To 8 | View Replies]

To: qaz123

Any variable rate debt is going to get really expensive, in the very near future.

Even if you are in a fixed rate mortgage when you bought your home a couple years ago, when rates are much lower, it’s still going to get bad for you.

If you are not already, you will soon be underwater on your mortgage, if you purchased a $300,000 home a couple of years ago, the price of homes will be crater if mortgage rates get to 10% or more, they are already touching 8%.

The scary scenario is US involvement in a war in the middle east, oil is already at $90/barrel I’ve seen predictions of $140-150/barrel in the next 18 months or less.

The death spiral will be rapidly rising oil prices, which will make inflation spiral, which will cause interest rates to spike which will devastate the consumer and the economy in general.

The economic geniuses in Washington will see shrinking government revenue as the economy tanks, Government spending will go up, the cost of finance the new debt and refinance the existing debt will cause the deficit to explode.

I’m usually a real pessimist when it comes to the economy, but I see nothing but a really bad future in next couple of years.


31 posted on 10/22/2023 2:43:11 PM PDT by srmanuel
[ Post Reply | Private Reply | To 10 | View Replies]

To: Theophilus

And if you have a problem with your ev, good luck finding a mechanic to work on it. Small problems with a normal vehicle become major ones with ev’s.


32 posted on 10/22/2023 2:46:50 PM PDT by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: RomanSoldier19

Bwahahahaha!!! Best laugh of the day. Thanks!


33 posted on 10/22/2023 2:46:58 PM PDT by Rocco DiPippo (Either the Deep State destroys America or we destroy the Deep State. -Donald Trump)
[ Post Reply | Private Reply | To 1 | View Replies]

To: gibsonguy

First rule of car club is no car payments.


34 posted on 10/22/2023 2:52:39 PM PDT by SaxxonWoods (“99% of failure comes from people who make excuses.” -George Washington)
[ Post Reply | Private Reply | To 2 | View Replies]

To: ComputerGuy
It seems to me that most automobile ads feature black folks.
That or mixed. There was an ad for "a family" discussing the need for a new car.

"the family" was a white and a black man with white and black children sitting at a table.

The one that gets me is the Old Spice commercial where the scowling, sneering, snotty black guy is publicly berating his wife/girlfriend for using his Old Spice.

Apparently that's an acceptable attitude in black culture.

35 posted on 10/22/2023 2:54:52 PM PDT by lewislynn ( Trump accomplished more for America in one 4yr term than any President in your lifetime)
[ Post Reply | Private Reply | To 26 | View Replies]

To: RomanSoldier19

I paid off my new car. This will be my last.


36 posted on 10/22/2023 2:56:37 PM PDT by roving (👌⚓Deplorable Listless Vessel with Trumpitist who looks Trumpish)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19

Hoping car prices drop... or I’m stuck with this old clunker.


37 posted on 10/22/2023 2:57:24 PM PDT by Tired of Taxes
[ Post Reply | Private Reply | To 1 | View Replies]

To: srmanuel

oil is already at $90/barrel I’ve seen predictions of $140-150/barrel in the next 18 months or less....the economy completely shuts down at that point. Folks won’t have the money to fill up, buy food or pay their bills.

And you’re just talking about the economy. Still have millions of illegals to start paying for so property taxes and the school taxes in them go through the roof.

Then, as has become evident, the country just might experience some issues from a certain group of people that have been marching around different cities, in support of Hamas and the Palestinans.

When that violence erupts, and it will, we’re going to get a first hand look, in the RED States initially, just how many Governors, LtGov, AGs, and “Constitutional Sheriffs” are about protecting their constituents. And we’ll get to see who the real 3%’ers are.

It gonna get ugly, for sure.

But..........Orange Man Bad and no mean tweets.

Life is just peachy.


38 posted on 10/22/2023 2:58:46 PM PDT by qaz123
[ Post Reply | Private Reply | To 31 | View Replies]

To: fhayek

You got my vote


39 posted on 10/22/2023 2:59:50 PM PDT by escapefromboston (Peace, commerce and honest friendship with all nations, entangling alliances with none.)
[ Post Reply | Private Reply | To 30 | View Replies]

To: qaz123

Even if Orange Man gets back in, he won’t be able to turn it around quickly, especially if he doesn’t have a Congress that’s willing to make some tough decisions, which they’ve shown, they have no stomach for it.

I don’t see a Tip O’Neil working with Trump to enact his agenda. If Hakeem Jeffries becomes Speaker of the House, can you see him doing anything to help Trump enact his agenda.


40 posted on 10/22/2023 3:04:24 PM PDT by srmanuel
[ Post Reply | Private Reply | To 38 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-71 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson