Something Else Bad About America

[Billy_Kinetta]

The Left is always looking for something. Here's a report about 7 million people behind in their car payments.

But, doesn't that mean there are 250 million who aren't?

https://www.huffingtonpost.com/entry/car-loan-payments-fed_us_5c637947e4b07115222b2014

 

[Cellblock2429]

The Left is always looking for something. Here's a report about 7 million people behind in their car payments.

But, doesn't that mean there are 250 million who aren't?

New York Fed: Record 7 Million Americans Are 90 Days Behind On Car Payments | HuffPost

/----/ How many bought more car than they can afford? How many are leased? How many are new cars? What happened to buying a used car to avoid the depreciation?

And when the article says "suggests," it means it's just a wild guess and something to slam Trump's economy with.
“The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market and warrants continued monitoring and analysis of this sector,” economists at the Fed said in an analysis of their consumer debt report.

 

[Moonglow]

I have not had a car payment in ten years...

 

[candycorn]

Yeah…the right never complains about anything.

 

[Decus]

It seems that sub-prime lending is now in vogue with auto finance companies:

"But auto finance companies are a different story—50 percent of outstanding loans from auto finance companies are to borrowers with credit scores less than 620."

Just Released: Auto Loans in High Gear   Liberty Street Economics

Will we ever learn?

.

 

[Moonglow]

It seems that sub-prime lending is now in vogue with auto finance companies:

"But auto finance companies are a different story—50 percent of outstanding loans from auto finance companies are to borrowers with credit scores less than 620."

Just Released: Auto Loans in High Gear Liberty Street Economics

Will we ever learn?

.

Not when a profit can be made.

 

[Cellblock2429]

It seems that sub-prime lending is now in vogue with auto finance companies:

"But auto finance companies are a different story—50 percent of outstanding loans from auto finance companies are to borrowers with credit scores less than 620."

Just Released: Auto Loans in High Gear Liberty Street Economics

Will we ever learn?

.

/----/ I never sold cars but my friend did. He worked at a Porsche dealer. The pressure they are under to move cars is tremendous. The factory pressures the dealers who in turn pressure the sales managers who come down hard on the salesmen. They use any tool possible to hit their quotas. I'm not surprised about the subprime loans. They make the sale, get the commission and if the buyer defaults, they get the car back and resell it to another sucker.