Auto loan debt hits crisis levels as Americans drown in car payments

[Neuromancer]

Car culture will help ruin Americans

 

[Luke Cage]

My first car was a 1997 Saturn off Craigslist for $850 dollars. Drove that thing for 6 years with no problems before selling it for 900.

 

[daemonova]

Nobody forced to take a loan to buy a car. You can cop a reliable one off craigslist for a few K if you weren't trying to stunt.

Cars arent worth five figures, there no way the car gonna last the life of the note.

it will either break down or face paperwork issues

 

[daemonova]

Car culture will help ruin Americans

Car culture built America in the 20th century.

now its biting them in the ass.

 

[Diondon]

Vehicle prices are insane these days

 

[Uitomy]

Everybody doesn't want to gamble on a 15-20 year old car that they weren't already maintaining.

A lot of these newer cars financially present way more of a gamble than the old ones. They're getting so many electronics in not only can you not self repair but the shops straight up just charge you for new parts instead of fixing them. But like the other poster said, it's cars 5-10 years old, but these new cars make people feel too comfortable when they drive and I've noticed those drivers are considerably more reckless

 

[Brolic]

People lie like you can't get on craigslist right now be proven wrong. You can still find a 120K mile car on craigslist for $800 bucks. 3k is getting you something under 80K miles that still has a good 10 years left in in.
You right its not the 90s anymore, nobody its getting lemons or buckets anymore unless the car has been through a bad wreck. Everything is pretty reliable up to 100K miles nowadays.

Edit: Just Googled Now somebody selling a 2005 dodge caravan for $600 120K miles. Another person has a 2007 Chevy Cobalt on there for 2K less than 70K miles.

That’s cuz they’re probably messed up. No one’s buying old high mileage dodges and Chevys because they’re unreliable. People are looking for old Hondas and Toyotas. I just checked Craigslist for the DMV area and Hondas/Toyotas with 200k+ miles are $1500-3000, $3000-$6000 for cars with less than 200000 miles.

 

[Lord Beasley]

Nobody forced to take a loan to buy a car. You can cop a reliable one off craigslist for a few K if you weren't trying to stunt.

This right here. Those decommissioned cop cars from the auction come to mind....they're kept in immaculate condition and sell for the low

 

[Luke Cage]

Cars arent worh five figures, there no way the car gonna last the life of the note.

it will either break down or face paperwork issues

People buying cars they can't afford, and can even get them shyts fixed when they break down. but looking down on used craigslist cars.
My neighbor got a tesla, that creaks and moans like horror movie basement door every time he drives, and giant crack on the windshield.

 

[Htrb-nvr-blk-&-ug-as-evr]

You gambling by owning a car you can't afford to maintain. That 1K car is likely going to do you just fine, and if it doesn break down on you, you can just junk and get another one for cheaper than it cost riding around in that 1K a month lease.

Your logic is not making sense, People are buying 40k car new. getting predatory terms and paying an extra 15k on top of it. Taxed 1k a month.
but saving up 3K and paying it in full is too much money.

Bruh what car that isn’t an absolute death trap or a Nissan Altima can you buy in 2024 with $3k . $10k is the new $3k bruh…

 

[Luke Cage]

Bruh what car that isn’t an absolute death trap or a Nissan Altima can you buy in 2024 with $3k . $10k is the new $3k bruh…

Go on craigslist type in your zip. sort by price and tell me their aren't at least a dozen cars under 3K within 50 miles of you.

 

[42 Monks]

a lot of people straight up self eliminate on cheaper used cars and dealerships have just went all in on reinforcing that shyt fr

like its easier to absorb the hit on repairs than outright ridiculous rates - but do people want to entertain that anymore? not without being convinced first lol...

 

[Rell]

Just recently paid my car off, had a 5 year loan paid it off in 2

I'll be driving this one for a long time, fukk those payments

 

[Amerikan Melanin]

Lease an EV.

I’m driving both these cars until I can’t anymore then I will lease.

 

[MrLogic]

Maybe banks need to lobby so people can get better wages.

My car is paid off