The delayed day of reckoning has arrived for millions of Americans who purchased vehicles during the pandemic auto boom. Many are now finding themselves trapped in a shitstorm of negative equity and burdened by costly monthly payments, all while low- and mid-tier consumers face mounting financial strain amid elevated inflation and high interest rates.
Before we dive into the new auto data, let's revisit our latest coverage of the slow-rolling auto crisis: . .
Source (zerohedge.com)
Buy used. Take your time and have it inspected by a your mechanic. Paying to inspect a had car saves you money.
Plan on$1000 in deferred maintenance when you buy a used car. It has been working for me.
If you finance a car, you're "underwater" when you drive it off the showroom floor.
Unless you buy a used car from a private owner there isn't a situation where you would not be underwater. This shouldn't be news to anyone.
It's all the jewsury.
How the heck is it legal to give someone an 84 month car loan?
doesnt help that used cars now cost 10k+ with 150-250k+ miles on them. not to mention interest rates for those cars are running around 20% making people pay around 5k in interest.
no ones paying that off.