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 ...
I see people driving Mercedes Benz and Audis that I’m sure have no funds to finance.
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120 month financing.
Decent points but I can see him reverting to what each President since Bush2 has done.
Do everything by Executive Order.
Difference being, with Pres Trump his EOs seem to have some legitimate legal weight behind them. Even the ones he tried to implement, ie taking money from refugee resettlement and NGOs, had defendable weight behind them, but all of that was rolled into budget bills and there wasn’t he could do about the actual money. And he got zero support from anyone in Congress. Thankfully he found a way around all of that.
His most effective EO, had he been re-elected, would have been the one giving him the ability to re-classify fedgov employees and having the ability to fire them. Basically, if I read it correctly, he would have been able to take on the SES army and, potentially, destroy it.
But, with the way things are going, we’ll be in WW3 pretty soon, so who knows how much any of this will matter.
I keep hearing conflicting things about election integrity.
Some states have tightened up election rules. Some states have not. Some say that DeSantis has tightened up election rules in Florida. But then some people, here on Free Republic, criticize him for not doing anything about Florida elections. So who knows what to believe.
Remember this whole subject of elections goes state by state. States run our elections, not the federal government.
It’s not only the car loan payments...there is a sales tax on the original purchase...annual road tax calculated on purchase price...annual license fee..and insurance on top of that.
Depending on state and county regulations...worse in blue states.
Not just yet. Supply is still low. We need a wave or 2 of repossessions to drop prices.
Very true...
worse in blue states....and Florida
EV Owners Facing Insurance Challenges https://hotair.com/headlines/2023/10/22/ev-owners-facing-insurance-challenges-n586772
Wonder when Biden’s puppet master is going to tell him to threaten the insurance companies if they don’t insure the toy cars.
from the article
Interest rates for used cars are 13.5% on average for those with fair credit but can rocket up to around 21% for those with the worst credit, according to Bankrate.
wowzers
I was wondering why so many people in town are driving around in new cars and going to Walmart all day and don’t have to go to work.
It looks like JO JO the clown is going to have to start cancelling car loan payments too.
We’ve got one more payment on the F150.
Trying to decide whether to pay it off or not.
Even regular vehicles can have problems that are beyond the ability of the average mechanic to repair them.
Any kind of electrical problem, for example, stands a good chance of getting misdiagnosed and/or getting the parts cannon fired at it.
Car loan mortgage rate amounts are extremely high for those with low credit scores.
Pay cash for autos if at all possible and keep the car for over 10 years if you can
My ‘02 truck may not be too shiny anymore, but it runs like a top AND it was paid for the day I drove it off the lot.
12% of the population, 80%+ in TV ads.
That’s what pandering looks like in the mass market ‘20s.
*spit*
I try to do it the Dave Ramsey way. Just pay cash and buy old used Toyotas or Hondas.
Screw new and screw debt.
Bidenomics - Keep ‘em at home.
Until the car drives itself back to the dealership on command.
At the very least they could simply disable it if the check bounces.
Good time to buy a new car.
They’ll probably give you a good price if you stand firm.
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I onced worked bankruptcy for wells. At that time, they didn’t want the cars, so each month, the debtors could miss their payments.
Today with the high prices and shortages of used cars, you can bet repo man will come calling.
I got my Nissan at zero percent interest. 2021
You forgot to mention Churches within the 15 minute city...
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