I feel saddled with debt for my new Caddy. The government should forgive and takeover my debt and save me worry.
These crap cars made by the government for $40 K!!! are you nuts. I have no mercy on you at all . If you were that stupid— Eat it!!
The hedge funds like volatility. They know they’re running up a bubble, and they profit handsomely until they themselves prick the bubble, then profit handsomely as it deflates. The market is geared now to generate such profit opportunities. However, people who are plodding along, buying and holding, faithfully putting 10% with company match into their 401K’s are unable to benefit, which means their retirement funds have been basically flat since the late 90’s, with some scary crashes that wreck those unfortunate enough to be too close to retirement to ever recover.
I predict a bull market for the re-po guys.
Any way to invest in that?
I figure my old 1998 Toyota 4WD truck has cost me about $3. a day as far as purchase price.
Unintended consequences of Cash for Clunkers?
You notice that the nicest things any piss-poor town has are its car dealerships. Stupid people get charged more or offered shark loans. Can’t cure stupidity, except slow it down during bankruptcy phase (temporarily).
Yeah, if they elect Bernie, he will hand out free cars, but they will all be Trablants from Eastern Europe.
Cars seem to be way over valued in my opinion. My 15 year old beater would sell for more than i paid. And I bought it used. I’ve been looking for a used full size diesel pickup and even 20 year old used ones are $20,000.
It sounds like a good time to start a repo business.
The thing is that there is a physical item with resale value with a car, but not with an education.
And people on government assistance can lease a vehicle as to not show ownership.
I’ve been keeping my 12 year old car running, waiting to pick up a very cheap, low-milage one when this bubble pops. I hope it hurries up.
I bought a new car once. Pen to paper the dumbest thing to do.
Cash for Clunkers took all the cool classic Jeep Cherokees off the road.
Obama’s fault.
I heard Obama is going to forgive auto loans for blind people. /s
That seldom ends well .
In 2015 some 23.5 percent of all new car loans were subprime
rising delinquencies and defaults are finally opening the media’s eyes to the risk of an auto credit bubble collapse
....
With the great Obama economy, how can that be?
Part of this is the effect of the additional costs (thousands per car) of all the regulations that the EPA and NHTSA have heaped onto carmakers, and they’ve only just begun.
well my 71’ International harvester 1210 (freshly painted) with just 93k is running just fine...as i pass the 20-40 thousand dollar pick-ups on my way to work I imagine the monthly payment and option one insurance costs these people pay.....I pay 50 dollars a year to register and 300 dollars for basic insurance .....no computer codes to deal with and I twist my own wrenches....even tire change (has split ring rims).....when trucks and cars cost as much as houses and pieces of land its time to get a good used vehicle and keep it....people are stupid.