greg1647545532 Posted February 15, 2019 Report Share Posted February 15, 2019 Interesting. Gen Xers carry the highest auto loan balances with a median of $18,741 and are the most likely of other age groups to have a car loan. "I can't believe young people are eschewing cars in favor of public transportation and Uber," says generation saddled with incredible amount of debt just to own cars. Quote Link to comment Share on other sites More sharing options...
Geeto67 Posted February 15, 2019 Report Share Posted February 15, 2019 (edited) https://jalopnik.com/americas-car-loan-debt-is-out-of-control-and-getting-wo-1832635925 This topic's been debated enough, but I'm interested in the progression of auto-loan debt numbers and whether the 90+day delinquency percentage (2.5%). I'm curious in the loan growth relative to wage growth...assuming the complaints come from loans being higher. Though, this graph isn't looking good: The comments are interesting as well, regarding NHTSA standards (and global ones) making more expensive safety measurements a requirement on most vehicles. If cheaper, third-world/global car platforms were available for sale, would we be having the same financial issues? Drive a Tata Nano around your city for a few years, scrap it when it dies... EDIT: To be clear, I have used this thread to transition the conversation away from the specialized car market to increasing, "gen-pop" consumer debt levels around car loans. I found the comments section interesting as well clay, esp the discussions regarding how there hasn't been any spending power growth, even when there has been wage growth. I don't know that we can blame "regulations" for all of the inflated cost of cars. Technology has become the driver in the marketplace for both competition and the standard for new luxury. It has borne out that people will pay more for more tech options and nobody is forcing them to do that. I do think the US dealer salesman compensation model should bore some of the responsibility for the increased cost in cars. The Sales model incentives is for the entire industry to convince the buyer to buy a more expensive car than they need. Sometimes they do this through charisma, old fashioned salesmanship, sometimes through subterfuge, like the 4 box and diverting attention to payments over total cost, sometimes through asymmetric information, such as the rebate system, and sometimes through coercion, by dealers limiting the supply of less expensive cars by just not ordering base model or low option cars and stocking them on lots. A dealer car buying experience is not a level playing field for the buyer - the dealer's job is to grow your debt and based on the numbers, mission accomplished. even if somehow an exception was made for "3rd world cheap cars" like the tata nano, the cabal that is the National Automobile Dealer's Association would find a way to criple it in the marketplace so that sales were slow. Don't believe me? look at what they did to the motorcycle industry. Edited February 15, 2019 by Geeto67 Quote Link to comment Share on other sites More sharing options...
carl1647545492 Posted February 15, 2019 Report Share Posted February 15, 2019 144 month loan lol...for a car?... F. that! ...take a Uber ride a bike buy a clunker. Quote Link to comment Share on other sites More sharing options...
Orion Posted February 15, 2019 Report Share Posted February 15, 2019 Think I could get one of these on something like, say, a 1994 Supra twin turbo? Quote Link to comment Share on other sites More sharing options...
Otis Nice Posted February 17, 2019 Report Share Posted February 17, 2019 Think I could get one of these on something like, say, a 1994 Supra twin turbo? Quote Link to comment Share on other sites More sharing options...
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