Bidenomics Hangover: Late car payments hit highest level in decades

[struth]

So, after the repo man?

What?

 

[d0gbreath]

What?

You can't catch up on your car payments "in the long run". Your vehicle will be repossessed long before that.

 

[struth]

You can't catch up on your car payments "in the long run". Your vehicle will be repossessed long before that.

Very possible for some of these folks, part of the fall out of the xiden economy

But in the long run folks will be better off then they were under xiden

 

[Foxfyre]

"Late car payments hit highest level in decades​

Americans are missing their car payments at the highest rate in more than 30 years, data shows.

According to Fitch Ratings, 6.56 percent of subprime auto borrowers were are at least 60 days past due on their loans in January, the most since the agency began collecting the data in 1994.

The findings highlight the financial strain many Americans are feeling, as rising costs and high interest rates make it harder to keep up with their bills.

A recent report from the Federal Reserve Bank of New York also found more borrowers falling behind on their car payments. In the fourth quarter of 2024, the share of auto loans among all borrowers that transitioned into serious delinquency — 90 days or more past due — rose to 3 percent, the highest level since 2010."

Late car payments hit highest level in decades

Americans are falling behind on their monthly car payments at the highest rate in more than 30 years.

thehill.com

Democrats are still shaking their heads and asking themselves why Trump won. This is why. Bidenomics pummeled the working class for four years.

Realistically it took Reagan years to bring inflation under control and bring down interest rates and consumer prices. He inherited double digit inflation, double digit interest rates, and prices further aggravated by escalated fuel prices pushed by OPEC. Trump didn't inherit numbers like that but did inherit an even more fragile economy from Biden along with such irresponsible spending and tens of millions of illegals to contend with that turning that around is even more of a challenge than Reagan faced.

Most especially when the unethical and dishonest fight him every inch of the way, a problem Reagan also did not have at least anywhere to the extent of what Trump has.

 

[frigidweirdo]

Biden and his Obama minions did nothing for the American People. Deal with it.

Nice to know you can't reply to a proper post. Just like 90% of this forum.

 

[John Edgar Slow Horses]

And the problem will become far worse with an economy that Trump is seriously hurting.

 

[John Edgar Slow Horses]

Realistically it took Reagan years to bring inflation under control and bring down interest rates and consumer prices. He inherited double digit inflation, double digit interest rates, and prices further aggravated by escalated fuel prices pushed by OPEC. Trump didn't inherit numbers like that but did inherit an even more fragile economy from Biden along with such irresponsible spending and tens of millions of illegals to contend with that turning that around is even more of a challenge than Reagan faced.

Most especially when the unethical and dishonest fight him every inch of the way, a problem Reagan also did not have at least anywhere to the extent of what Trump has.

The economy is far today than it was two months into Reagan's first term.

Donaldus Dorkus Minimus Trumpus is going to make far, far worse.

 

[Foxfyre]

The economy is far today than it was two months into Reagan's first term.

[ISPOILER]Donaldus Dorkus Minimus Trumpus[/ISPOILER] is going to make far, far worse.

I will try to translate your incomplete sentence. Biden's economy was worse than Carter's and he deliberately made it as bad as he could on the way out the door. Or at least whoever is running Biden did. There is little to commend or defend in that kind of reprehensible behavior.

 

[John Edgar Slow Horses]

No, Foxfyre, Carter did not make the economy deliberately worse; you have no evidence but only allegations (your normal screech) for your point.

 

[eagle1462010]

No, Foxfyre, Carter did not make the economy deliberately worse; you have no evidence but only allegations (your normal screech) for your point.

Peanut head wad famous for stagflation

 

[John Edgar Slow Horses]

Peanut head wad famous for stagflation

I remember that. I remember the interest rates for mortgages in the Reagan years.

 

[fncceo]

My 2019 Honda Civic Sport will be paid off in 3 months!

Six years for a Civic? How much interest was that?

 

[Godboy]

Six years for a Civic? How much interest was that?

Honestly, i have no idea. It was the beginning of 2020 when I bought it, and I kept the payments low, $220 per month. I put something like 14 grand down when i bought it, so thats why the monthly payments are low.

Then before i even put 200 miles on it, I spent about $4,000 on some nice ceramic 24% tint, i blacked out every single piece of chrome, bought some black aftermarket wheels, and put a sick Eibach sport suspension kit on it!

 

[Admiral Rockwell Tory]

A line in the article all of you seemed to ave missed is surprise auto loans which are called that for a reason. Loans of that type have higher interest rates because of the higher risk.

 

[ThunderKiss1965]

Blah, blah, blah. Bidenomics was a success.

It was so successful that Biden was dropped for the worst candidate possible and Democrats lost the Senate. How much more of that kind of success can you loons stand.

 

[John Edgar Slow Horses]

It was so successful that Biden was dropped for the worst candidate possible and Democrats lost the Senate. How much more of that kind of success can you loons stand.

There is no question Trump Magaminorkus will out do him by the end of June.

 

[Nostra]

I remember that. I remember the interest rates for mortgages in the Reagan years.

What were they when he took office vs left office?

Post the numbers.

Betcha won't.

 

[CrazyTrader55]

"Late car payments hit highest level in decades​

Americans are missing their car payments at the highest rate in more than 30 years, data shows.

According to Fitch Ratings, 6.56 percent of subprime auto borrowers were are at least 60 days past due on their loans in January, the most since the agency began collecting the data in 1994.

The findings highlight the financial strain many Americans are feeling, as rising costs and high interest rates make it harder to keep up with their bills.

A recent report from the Federal Reserve Bank of New York also found more borrowers falling behind on their car payments. In the fourth quarter of 2024, the share of auto loans among all borrowers that transitioned into serious delinquency — 90 days or more past due — rose to 3 percent, the highest level since 2010."

Late car payments hit highest level in decades

Americans are falling behind on their monthly car payments at the highest rate in more than 30 years.

thehill.com

Democrats are still shaking their heads and asking themselves why Trump won. This is why. Bidenomics pummeled the working class for four years.

This is not surprising, have you seen the price of cars lately? It's outrageous, and no politician including even the master himself, Donald Trump, is going to fix it. Only the free market will bring down prices.

 

[Nostra]

It was so successful that Biden was dropped for the worst candidate possible and Democrats lost the Senate. How much more of that kind of success can you loons stand.

Bidenomics: So successful no Dimwinger would utter the word on the campaign trail.

 

[Nostra]

What were they when he took office vs left office?

Post the numbers.

Betcha won't.

: crickets: from John Edgar Slow Horses