Posted on 07/07/2023 11:09:29 AM PDT by Kaiser8408a
Livin’ la vida Biden!
The Biden Administration has got a line on you! Unfortunately that line is choking America’s middle class and low wages workers with inflation and rising interest rates.
Auto loan rates are now up to 7.65%, a gut-wrenching 166% increase under Bidenomics.
Average monthly payments also reached a new record of $733. That compares with $730 in the first quarter and $678 in the second quarter of 2022. Buyers were financed with an average APR of around 7.1%, the highest since the fourth quarter of 2007.
2 out of every 3 consumers who agreed to a $1,000+ monthly payment in Q2 signed up for an average APR between 8.5% and 9.6%. (via Edmunds).
As for buyers who took on $1,000 monthly auto payments, about 65% of them had an average loan-term range of 67 months and 84 months, their average APR rate was between 8.5% and 9.6%.
Bidenomics. Crushing the soul of America’s middle class and low wage workers.
I love how the most secure building in Washington DC with cameras 24/7 EVERYWHERE and the Secret Service claims they don’t know who left the cocaine on a table. I will bet they pin the blame on VP Kamala Harris as an excuse to replace her word salads for the 2024 Presidential election.
(Excerpt) Read more at confoundedinterest.net ...
I paid cash screw that
At MSRP which is great for what I bought
Auto loan rates are now up to 7.65%, a gut-wrenching 166% increase under Bidenomics.
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Add this to the fact that the average new car/truck costs of $45,000 then understand how screwed we are.
At MSRP which is great for what I bought.
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And I don’t doubt your vehicle is currently worth even more than MSRP now. Which is why many dealers ask for and get many thousands of dollars OVER MSRP on many cars.
This madness needs to stop. Pretty soon we will be a nation like Cuba. With 30 and 40 year old cars as our daily drivers.
Biden has surpassed James Buchanan, who is no longer considered the worst US President. Way to go, Biden. You’re now No. 1.
If you have decent credit, you can get a much better rate that 7.65%.
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