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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
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To: gibsonguy

The prices are insane.

Dealers CAN’T SELL Overpriced TRUCKS! $100,000 Ford, RAM & Chevy? So STUPID!
https://www.youtube.com/watch?v=fGXJxxi99TI


61 posted on 10/22/2023 8:23:58 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: minnesota_bound

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.


62 posted on 10/22/2023 8:27:19 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: minnesota_bound

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


63 posted on 10/22/2023 8:40:03 PM PDT by gibsonguy ( )
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To: RomanSoldier19

One reason they abandoned EVs


64 posted on 10/23/2023 5:18:48 AM PDT by redgolum (We are not going to make it, are we. )
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To: Fish Speaker

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.


65 posted on 10/23/2023 5:38:54 AM PDT by SheepWhisperer (Get involved with, or start a home fellowship group. It will be the final church. ACTS 2:42-47)
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To: RomanSoldier19

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!


66 posted on 10/23/2023 7:25:28 AM PDT by ExTxMarine (Grace is getting what you don’t deserve! Mercy is NOT getting what you actually deserve!)
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To: ExTxMarine

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..


67 posted on 10/23/2023 8:10:40 AM PDT by EVO X ( )
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To: RomanSoldier19
Bi-dung economics strikes again.
68 posted on 10/23/2023 8:12:04 AM PDT by Chgogal (Welcome to Fuhrer Biden's Weaponized Fascist Banana Republic! It's the road to hell.)
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To: Tired of Taxes

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.


69 posted on 10/23/2023 8:22:00 AM PDT by JohnnyP (Thinking is hard work (I stole that from Rush).)
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To: RomanSoldier19

Did they purchase $90,000.00 EVs with a $1200.00 a month payment?


70 posted on 10/23/2023 9:38:41 AM PDT by Tommy Revolts
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To: JohnnyP

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.


71 posted on 10/23/2023 3:56:17 PM PDT by Tired of Taxes
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