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 ...
The prices are insane.
Dealers CAN’T SELL Overpriced TRUCKS! $100,000 Ford, RAM & Chevy? So STUPID!
https://www.youtube.com/watch?v=fGXJxxi99TI
I am guessing that the price of gas vehicles are so expensive in order to lower the price of the electric ones which are still too expensive!
Ford still losing $33,000 to $80,000 on their electric vehicles.
I watched a similar one. Wait till they to tack on the money they are going to have pay the UAW to settle the strike. Get ready for a $100,000 Ford focus with a 4 cylinder motor
One reason they abandoned EVs
It is wise to do the maintenance on our current vehicles now, rather than delay the work, to keep them running strong for more years. Parts availability may diminish and repairs will only become more expensive. Better if you can also do your own maintenance work and even purchase the parts for upcoming things like brakes and oil/filter now, rather than later. Prices will only go up for those materials and new or used vehicle prices will certainly increase.
This is just the FIRST of many “overdue” payment types about to hit the fan!
Car payments usually start, because people have a second car they can drive.
Next up will be credit cards, because people will need their disposable income to pay for basic necessities, as their credit cards max out and they can’t pay those minimums anymore.
Then there will be missed house payments with another housing crisis!
At this point, we will be in a full-blown, honest-to-God, no-they-can-all-agree-on-it-now recession!!
It is coming!
It will be interesting to what type of damage the UAW strike causes. The union pays strikers $500 a week. That isn’t going to cover many $600+ monthly car payments. A parts company in a nearby town laid off 500 workers last week, so the damage isn’t just to UAW workers..
My 2000 Dodge Intrepid has 140K miles on it, isn’t pretty but it runs great. It has the 3.2L engine. The wife and I both scraped the doors pulling into the garage. I told her don’t worry, it’s just our training car.
I’ve been looking for an ‘04, the last year they were made, but not many around. I saw one on Facebook Marketplace for 5k but I think it was a scam.
An ‘04 300M would also be good.
Did they purchase $90,000.00 EVs with a $1200.00 a month payment?
As long as the car runs great, it’s perfect. My car is four years newer than yours. The dents, scratches, and rust don’t bother me, but everything is falling apart, and the engine is on its last leg. It costs so much money to keep it running. The more money I sink into it, the less I have to buy another car. My worry is that it’ll stop running for good one day, and then I’ll have to find another car fast.
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