Car repossessions are expected to hit 3 million this year, their highest rate since the 2009 recession

[candycorn]

US built cars have tariffs on them?

Since many of the parts they put into those cars come from overseas...yes.

Trump got rid of idiotic CAFE standards that caused some of the cost increase in vehicles.

And the average price of a car is over $50,000 thanks to your blob and his tariffs.

Now, lets see if you revert to your syndrome....

 

[Concerned American]

Public policy is governing shit-brains.

Subsidized health insurance IS NOT public policy. That is INDIVIDUAL WELFARE--Educate yourself--BTW, your lack of ability to control your juvenile vocabulary and express yourself logically is proof that you already know you are WRONG.

You do nothing but make snide comments all day, every day.

Booo Hoooo, I am not here to make you feel good about whining and crying because you live a standard that is BETTER than 90% of the rest of the world and you still complain because you think the world OWES you more. Nothing snide about the truth.

 

[candycorn]

Subsidized health insurance IS NOT public policy. That is INDIVIDUAL WELFARE--Educate yourself--BTW, your lack of ability to control your juvenile vocabulary and express yourself logically is proof that you already know you are WRONG.

You don’t seem to know much about our government. Medicare, medicaid, public health, CDC, NIH, etc... Its bizarre that you think you’re even qualified to comment about something like healthcare.

Booo Hoooo, I am not here to make you feel good about whining and crying because you live a standard that is BETTER than 90% of the rest of the world and you still complain because you think the world OWES you more. Nothing snide about the truth.

No...but what does it say about someone who claims to be “set for life” like yourself...and you follow me around on a message board like a yapping chihuahua? Seems to me that you’re not as happy as you pretend.

 

[Bitterhook]

That number is expected to almost double this year, which is not a sign of a booming economy. Furthermore, the average price of a new vehicle is now $50.000, which is out of reach for many people. Yes, people can buy used cars, but with used cars comes increased maintenance and repair costs. One thing I have always wondered about is why the consumer can't buy directly from the manufacturer? Why do we need to go through a dealership, a middleman, instead of buying directly from Ford? That would cut down immensely on the price of a new car and make them more affordable, yet I never hear any of the politicians talking about this.

An increasing number of Americans are falling behind on their car payments, mimicking a trend commonly seen at the start of major economic downturns.

Last year, 1.73 million vehicles were repossessed, which is the highest number since the year following the 2008 financial crisis, according to a report by the CFA seen by the Wall Street Journal.

"Delinquencies, defaults, and repossessions have shot up in recent years and look alarmingly similar to trends that were apparent before the Great Recession," said the report.

Delinquency, which refers to being late on loan repayments, can devastate investor confidence and lead to an economic crash.

MSN

It all comes down to people signing their name on the line for a vehicle they cannot afford.
There are several reasons they do that, and none of them have to with the manufacturers.

Immediate gratification, entitlement, lack of a concern about debt, the desire to believe that anything can be fixed, someone will take care of them or everything, and all traced back to our federal government and a foolish populace that has allowed these people to believe things that are simply neither wise nor true.

 

[Concerned American]

You don’t seem to know much about our government. Medicare, medicaid, public health, CDC, NIH, etc

Look in the mirror. Medicare is an insurance--Gov't has no business NOR responsibility to subsidize it. Medicaid IS WELFARE, giveaway program that is UNPAID for by the recipient. Public health, CDC and NIH are not in the constitution and should be addressed by the private sector. As for my qualifications to comment--Please provide me with the certifications you hold that qualify YOU---OR those morons in DC that you seem to think are not stealing taxpayer money to redistribute to you parasites.

you follow me around on a message board

Don't flatter yourself. Your SNIDE, IRRELEVANT and OFF-TOPIC post #3 on a public thread is fair game, moron.

 

[iamwhatiseem]

Can’t wait to hear how Biden is responsible

In part he is, if you can't see that - then you are a blind partisan incapable of being honest.
So therefore - I know you don't see it.

 

[citygator]

Have they blamed immigrants yet in this thread?

 

[Cellblock2429]

That number is expected to almost double this year, which is not a sign of a booming economy. Furthermore, the average price of a new vehicle is now $50.000, which is out of reach for many people. Yes, people can buy used cars, but with used cars comes increased maintenance and repair costs. One thing I have always wondered about is why the consumer can't buy directly from the manufacturer? Why do we need to go through a dealership, a middleman, instead of buying directly from Ford? That would cut down immensely on the price of a new car and make them more affordable, yet I never hear any of the politicians talking about this.

An increasing number of Americans are falling behind on their car payments, mimicking a trend commonly seen at the start of major economic downturns.

Last year, 1.73 million vehicles were repossessed, which is the highest number since the year following the 2008 financial crisis, according to a report by the CFA seen by the Wall Street Journal.

"Delinquencies, defaults, and repossessions have shot up in recent years and look alarmingly similar to trends that were apparent before the Great Recession," said the report.

Delinquency, which refers to being late on loan repayments, can devastate investor confidence and lead to an economic crash.

MSN

/------/ It's somehow Trump's fault? He doesn't set car prices. He doesn't force people to buy cars they can't afford. Who needs a $100k pickup truck with air ride, dealer $5k markup, nitrogen tires, and an interior better suited for a Lincoln?
Personally, I only buy certified pre-owned by the manufacturer. I pay cash whenever I can.
I just bought this two weeks ago; the original list was about $65K. My trade-in was $20k, so I scored a barely used SUV with only 3,750 miles for half the price of a new one. with the CPO it's warranted until June 2028.

 

[Concerned American]

Seems to me that you’re not as happy as you pretend.

LMAO, I do complain. I complain about an overbearing government that taxes me to give to people like you who are too lazy to get up and provide for themselves. Charity is also something that is the responsibility of those in the private sector who CHOOSE to give it---not those in the public sector who choose to give away that which IS NOT theirs to give.

 

[martybegan]

Have they blamed immigrants yet in this thread?

Only the ones who got deported or left and decided to just abandon their car loans.

 

[Zincwarrior]

Bbbbut, Bbbbut, Bbbbut, someone's got more than you do---booo hoooo. Get used to it or you're going to have a looooong, unhappy life. There will always be those who have more than you do. Life is not fair. SMFH. Jealousy won't get you anywhere.

The downside of course, is that massive disparities of wealth destabilize societies, leading to intensive crime and potential revolution.

Its not a matter of them having more than me...its a matter of those who make public policy having little to no idea what the public is facing; much less caring to change it.

Clearly you’re quite jealous since you’re absolutely nowhere.

Don't forget healthcare.

 

[citygator]

LMAO, I do complain. I complain about an overbearing government that taxes me to give to people like you who are too lazy to get up and provide for themselves. Charity is also something that is the responsibility of those in the private sector who CHOOSE to give it---not those in the public sector who choose to give away that which IS NOT theirs to give.

How much are you taxed? I guarantee you don’t pay your way. You currently owe your fair share of $30T. People like you crack me up.

 

[Zincwarrior]

It also depends on where you live. I receive a home value report every month and the prices of houses in my zip code have remained stable for over a year now.

I literally could not afford to re-buy my own home at current prices and income.

 

[Zincwarrior]

Since many of the parts they put into those cars come from overseas...yes.

And the average price of a car is over $50,000 thanks to your blob and his tariffs.

Now, lets see if you revert to your syndrome....

Steel, aluminum, manufactured parts.

Also it drives up the demand for domestic production (remember thats supposedly the point), driving upward pricing pressure. Basic math.

and you follow me around on a message board like a yapping chihuahua?

How about a one quarter chihuahua?

 

[iamwhatiseem]

All due to the extraordinary stupidity of most people.
In 2014, the average vehicle purchase price was $32k
In 2024 - it was $48k - a 51% increase in 10 years.
If prices stayed relative to inflation, that average purchase would be $39.4k
So prices have raised substantially higher than inflation, even when including the harrowing inflation of 2022-23.
The stupidity comes from people STILL buying new cars despite this.
We replaced our primary car in 2022. No way in HELL was I buying new. Hell no!! Even though we can afford it. I am not stupid. We bought a 2 year old car with only 28,000 miles. Not quite half the cost of a new one.
As long as there are enough morons willing to overpay for cars they don't need - they will keep selling them that way

 

[Bitterhook]

The downside of course, is that massive disparities of wealth destabilize societies, leading to intensive crime and potential revolution.

Wow, now if they could only figure out how to unfuck themselves, instead of just wanting what others have, and resorting to violence when they find themselves lacking in success and productivity.

It's never been a secret that a great deal of people often think they are owed or are entitled to more than they are actually able to accomplish by any reasonable standard.

 

[Concerned American]

The downside of course, is that massive disparities of wealth destabilize societies, leading to intensive crime and potential revolution.

There have been massive disparities in wealth in EVERY society since the beginnings of man. There have always been those stronger, fitter, more astute and that isn't going to change. The society we live in where people are free to be gainfully employed and make the best of what God gave them is the ONLY solution. When government redistribution of wealth is involved because "it's only fair" is when the problems start because it is always accompanied with corruption and fraud.

 

[Manonthestreet]

I only buy used.

 

[Lockback]

There are 12 billionaires who have worked (or are still working) in the blob’s administration with lord-only-knows how many millionaires. And you guys thought they were going to change the system tht made them mega-rich?

Is this post about the Biden administration?

 

[Zincwarrior]

Wow, now if they could only figure out how to unfuck themselves, instead of just wanting what others have, and resorting to violence when they find themselves lacking in success and productivity.

It's never been a secret that a great deal of people often think they are owed or are entitled to more than they are actually able to accomplish by any reasonable standard.

I am sure the wealthy Cubans, Czarist Russians, landowning Chinese, royal French etc agreed with you instead of attempting to improve the economy to address the issues.