‘Tip of the negative equity iceberg’: A record number of Americans are grappling with $1,000 car payments and many drivers can't keep pace — stay ahead by dodging these 2 loan mistakes

monewise via msn ^ | 2/24/23 | Bethan Moorcraft

[familyop]

Oh, it’s probably going to get a lot more interesting than this in regards to prices, interest rates, jobs, crime (drugs) and other things. I wonder how many people know that populism is dead again, too. Pride goes before the fall.

[familyop]

Oh, it’s probably going to get a lot more interesting than this in regards to prices, interest rates, jobs, crime (drugs) and other things. I wonder how many people know that populism is dead again, too. Pride goes before the fall.

[cgbg]

“Average new car price in the U.S. in Jan 2023 was $49,200 according to the Kelly Blue book folks.”

I keep seeing these numbers but those vehicles must be mostly trucks or cars with a lot of extras on them.

My dealer’s inventory has a lot of new vehicles for sale under $30,000.

[hopespringseternal]

I quit taking my vehicles to repair shops because they screw it up even when you tell them exactly what to do. And anymore the fact that there is a high likelihood of the new (chinesium) part being bad right out of the box hasn’t helped.

And they try to charge exorbitant amounts of money for trivial tasks. The last time I tried to take a vehicle to a shop they wanted $500 in labor for a repair that involved four bolts.

On the rare occasion I find a decent mechanic they always seem to be mere months from retirement and the next time I go in its “Larry, Moe, and Curly Automotive” all over again.

[Organic Panic]

Don’t look in the trunk...

[blackdog]

I just rented a Budget vehicle, in Phoenix, for $258 for six days. A Nissan Rogue. I drove it 908 miles.

[HereInTheHeartland]

“ Maybe people trying to buy BMW’s on a Ford Focus budget.”

Too many people buy $60,000 pickups as well
Very few people need that

[blackdog]

Get the corporate rate. The oppressors seem to fare well. I have another trip out of an arrival in Seattle going out to Widbey Island and the rate is less than $48 per day. Unlimited mileage. March 4th thru 9th.

[Trump Girl Kit Cat]

When a car runs $40,000 and you have a 5 year loan this kind of a payment is normal, people are INSANE to get under this kind of debt for a damn car!!! The minute you drive it off the lot it loses value!!

[Robert A Cook PE]

Three cars. 2002, 2006, 2008. All paid off many years ago.

[DoodleBob]

Ordinary f_____g people, I hate them.

Greatest movie soundtrack ever.

[Robert A Cook PE]

Mortgage up here was 1200.00 per month for a 150,000.00 dollar 3000 Sq ft house in 1989. 4 bedroom. Paid that mortgage off 12 years ago. Only taxes since then. New roof, new garage doors, outside painting for maintenance costs.

[SaveFerris]

It’s a late 1990s

No new parts in the system

It will have to be salvage yard body parts. A woman hit my car.

[SaveFerris]

Yeah

[SaveFerris]

Yep or vice versa

Wall steel decline, less jobs, layoffs

[SaveFerris]

I agree

[ifinnegan]

https://www.youtube.com/watch?v=kzim1iYhmGA

See this cautionary tale.

[Round Earther]

“Greatest movie soundtrack ever.”

It is.

[blackdog]

My last $3000 car has lasted eleven years and cost me three oil changes and one wheel bearing. Nothing else but gasoline.

[cyclotic]

Gee, and who forced them to make moronic economic decisions?