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

[97Pac]

I know people up to their eyes in debt and will still go out and get a $700-800 payment. I feel like some people enjoy being poor at this point.

 

[daemonova]

You sound defeated. I can’t relate

oh, lets talk about why car insurance is high, i havent had an accident in 25 years.

my insurance is high because i went 20 years without having insurance (didn't have a car) and i live in a bad neighborhood.

 

[Mordith]

Still got my 05 Camry running strong. Smooth like butter v6. Only 80k miles on it. Oil change, occasional brake job and tires, that really it. Cheap insurance also.

Cars are a big status symbol so people tend to want something nice and exceed their finances. It’s a bad mindset.

Why do people on here who drive buckets try to force their values on those of us who can afford and want better?

 

[chineebai]

Why do people on here who drive buckets try to force their values on those of us who can afford and want better?

if you can afford it then yeah do whatever. But it seems like people who can afford it are getting bad deals since their loans are upside down now.

 

[AAKing23]

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

What cars are y’all buying?

 

[Mike Nasty]

I know people up to their eyes in debt and will still go out and get a $700-800 payment. I feel like some people enjoy being poor at this point.

Cause in their eyes they aren't poor if they drive a nice car.

 

[Kasgoinjail]

My car note is $436. I pay $500 to pay it off earlier..Everyone situation isn’t dire. The Cole is full of miserable people. Everyone not struggling.

This guy

*The Coli

 

[Rekkapryde]

oh, lets talk about why car insurance is high, i havent had an accident in 25 years.

my insurance is high because i went 20 years without having insurance (didn't have a car) and i live in a bad neighborhood.

They been tore down Bankhead Courts...you cappin!!!!!

 

[daemonova]

They been tore down Bankhead Courts...you cappin!!!!!

if yo neighborhood has a lot of accidents in general, you live in a bad neighborhood,

my brother hit a neighbor and a neighbor hit me when i was sleep (wasn't in thew car at the time)

 

[daemonova]

What cars are y’all buying?

my brother paid 10k for an avalanche, he having issues with it now.

i was at a condo where a homeowner had to give up a BMW because she couldnt afford the paperwork to keep it on the road.

 

[Sir Richard Spirit]

oh, lets talk about why car insurance is high, i havent had an accident in 25 years.

my insurance is high because i went 20 years without having insurance (didn't have a car) and i live in a bad neighborhood.

My wife pays that

 

[Payday23]

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

No no no. They're ran into the ground. Engine has double the mileage from idling all day and transmission is worn out from rough driving

 

[Rick Fox at UNC]

Also, people who can afford may not see the sense in paying for these cars.

I'm making far more now than I used to and purposefully repo'd a car and refuse to buy another unless I absolutely have to.

Doesn't seem worth it.

 

[Lord Beasley]

No no no. They're ran into the ground. Engine has double the mileage from idling all day and transmission is worn out from rough driving

i see folks with these where i work....it's a minimum 33 miles each way, and them shyts are fine for what they paid

 

[JT-Money]

I know people up to their eyes in debt and will still go out and get a $700-800 payment. I feel like some people enjoy being poor at this point.

I know so many people drowning in debt right now. Panicking every time the phone rings thinking it's a bill collector. Or a car pulls up outside thinking it's the Repo man.

Yet they won't stop spending money on bullshyt.

I had to cut them all off after they wouldn't pay me back.