60 day auto loan delinquency reaches all-time high

[The Intergalactic Koala]

The collapse is what they want to put in the system that they have been planning for you.

You think it's bad now......

Thus, "them stimmys" as the stimulus is just a digital currency to keep the kids quiet, while the 1 percent moves on with ruthless intentions of making the kids' guinea pigs.

 

[Ezekiel 25:17]

25K is base civic prices nowadays.

accords start almost at 30k now breh.

wife recently helped her mom get a new car over the Christmas Holidays so we saw a lot of what hondas, toyotas were going for.

I just looked up prices in my area.. Plenty of Accords for $25k. People want brand new fully loaded luxury cars. Even if you're right and I'm wrong, if folks spent $30k, ain't no way their note should be $700/month



What's stopping people from buying this??

Check car by VIN & get the vehicle history

CARFAX is an international provider of vehicle history reports for a more transparent used car market.✓Buy safely ✓Sell at a profit ✓Import check

www.carfax.com

 

[folasade]

they are banking on you not shopping around for new insurance. yeah it's a pain in the ass, but it can save you a lot of money potentially.

I was doing that for 4 years straight. One year it's cheap to initially get you and then the next they spike the price.

 

[Ezekiel 25:17]

$30k loan
5% interest
$5k down payment
60 months

Breaks down to $471/month. So what are people doing to walk away with a $650/month loan? The math ain't mathing.

 

[Rekkapryde]

I just looked up prices in my area.. Plenty of Accords for $25k. People want brand new fully loaded luxury cars. Even if you're right and I'm wrong, if folks spent $30k, ain't no way their note should be $700/month

Not for brand new Accords, they're in the upper 20s. Gotta remember interest rates too. Everyone doesn't have good credit. 30k with no interest for 5 years is 500 a month (before taxes, tag, title). People with good credit have rates at least 6% right now, so imagine those that don't. They probably paying closer to 10% (many are paying higher by the way) so that 700 a month note is VERY realistic (dumb as hell though like you said).

What's stopping people from buying this??

Check car by VIN & get the vehicle history

CARFAX is an international provider of vehicle history reports for a more transparent used car market.✓Buy safely ✓Sell at a profit ✓Import check

www.carfax.com

Lotta cats want brand new cars to front. You know the game.

 

[Rekkapryde]

$30k loan
5% interest
$5k down payment
60 months

Breaks down to $471/month. So what are people doing to walk away with a $650/month loan? The math ain't mathing.

Majority don't qualify for 5% interest rate and don't have 5k to put down. That's the problem.

 

[King Sun]

NO shyt give people 22% 30% interest rates on cars and see what happens

 

[beenz]

I was doing that for 4 years straight. One year it's cheap to initially get you and then the next they spike the price.

this is what they do time and time again.

ironically, when I paid my last car insurance premium in january, it actually dropped by like 20%. but then again, my car just hit ten years old as well.

 

[Ezekiel 25:17]

Majority don't qualify for 5% interest rate and don't have 5k to put down. That's the problem.

Well that's a personal problem, not a car industry problem because there's plenty of cheap cars.

 

[Standing on business]

$30k loan
5% interest
$5k down payment
60 months

Breaks down to $471/month. So what are people doing to walk away with a $650/month loan? The math ain't mathing.

5% interest rate and $5k down is something personally you added to prove a point. The average person doesn’t have $1k for emergency so they definitely aren’t putting $5k down in a car

 

[Rekkapryde]

Well that's a personal problem, not a car industry problem because there's plenty of cheap cars.

there are, but cats don't want these cars. you got a brain to know better. most don't.

lotta morons running around with 600 dollar plus notes because they want flash joints and got shytty credit. and car salesmen know how to fleece and take advantage of their stupidity.

600 dollar plus car notes on cars older than 10 years at that.

my little bro about 20 years ago was so pressed for a car that he got some shyt where the interest rate was like 27%. I had to cuss his ass out for that dumb shyt. He literally would have paid for that car twice after the note was done. It was some bullshyt ass older SUV with a shytload of miles on it too. Thankfully he was able to return it in time.

 

[Ezekiel 25:17]

5% interest rate and $5k down is something personally you added to prove a point. The average person doesn’t have $1k for emergency so they definitely aren’t putting $5k down in a car

Then that's a personal problem, not car industry problem.

I like how the coli makes it out that people don't make bad decisions.




With $500 down on a $27k loan you can walk away with a $470 payment.

Auto Loan Calculator

Free auto loan calculator to determine the monthly payment and total cost of an auto loan, while accounting for sales tax, fees, trade-in value, and more.

www.calculator.net

 

[AAKing23]

What does this even mean?

Could buy a Porsche cash right now, why would I do that unless I have millions though?

Even then, my boy just bought an X5 loaded, could've cashed out more equity and paid outright. Why?

If you can finance at a low rate, finance something in your range.

I'm actually buying a Porsche Taycan next year (used) and will have more than enough money already for a cash deal but I don't wanna deplete my bank account immediately.

Just gonna put half down now (Approximately 20-25k) and get a low finance rate to pay the last half off at an accelerated rate. Will make sure there's no pre-payment penalties

I don't buy shyt unless I can buy it at least twice

 

[romeodunn]

We are in a recession and have been for at least over a month at this point. They just won't admit it publicly.

 

[Trojan 24]

Have a car note brehs

Company Car gang, don't even pay insurance or to charge the bytch up