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Valued Social Butterfly
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Re: 7 Million Americans Not Paying On Car Loans

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@jfpinlvn wrote:

According to a new report from the Federal Reserve Bank of New York, more than 7 million Americans have reached serious delinquency status on their auto loans, meaning they're at least 90 days behind on payments.

 

https://amp.businessinsider.com/auto-loan-delinquency-number-record-new-york-fed-2019-2

 

This explains why everyone seems to be driving newer and more expensive cars than me Smiley Sad


Just another bit of fallout from Republicans trashing usuary laws for the last 30 years. Banksters and "buy here pay here" cardealers are giving loans that they know people cannot afford because they also know they can take the car back and re-sell it many times. The ones getting caught are those who need a car to get to their jobs, so its not "optional" and they can't qualify for a regular loan.

 

The expression "Republican Bottomfeeders" springs to mind.

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Treasured Social Butterfly
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Re: 7 Million Americans Not Paying On Car Loans

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Message 12 of 13

@jfpinlvn wrote:

According to a new report from the Federal Reserve Bank of New York, more than 7 million Americans have reached serious delinquency status on their auto loans, meaning they're at least 90 days behind on payments.

 

https://amp.businessinsider.com/auto-loan-delinquency-number-record-new-york-fed-2019-2

 

This explains why everyone seems to be driving newer and more expensive cars than me Smiley Sad


Auto sales looks more and more like a ponzi scheme to me. around here there seems to be a used car lot on every corner. Every one of those cars represents " owed money". I have had 3 trucks in 30 years.. and didnt buy any of them new. The last one was the most expensive, at 3900. 

 

So it begins.
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Trusted Social Butterfly
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7 Million Americans Not Paying On Car Loans

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Message 13 of 13

According to a new report from the Federal Reserve Bank of New York, more than 7 million Americans have reached serious delinquency status on their auto loans, meaning they're at least 90 days behind on payments.

 

https://amp.businessinsider.com/auto-loan-delinquency-number-record-new-york-fed-2019-2

 

This explains why everyone seems to be driving newer and more expensive cars than me Smiley Sad

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