A RECORD 7 Million plus Americans 3 months late on car payments.

Not so fast....worth every second :

 

Are we saying lenders are so irresponsible they do not even verify that loan applicants have employment????

 

We know that 40% of working Americans cannot come up with $400 should a financial crisis arrive.

 

Following Trump's method of paying creditors.

 

The Left would claim these consumers don't have any other options other than to get into debt.

i.e. borrowing to buy something you can't afford isn't their fault, "I don't have any money"

 

Many new car loans are 84 months.

 

Liberal monthly budget:

$500 for weed +
$1500 for eating out +
$1000 for miscellaneous +
$1500 in welfare for housing, food, utilities =

$0 for crisises.

 

Which is just ridiculous. A lot of these cars are sold or get into a crash before they're fully paid off.

 

Actually 8 years of Obama taught people to not be responsible and pay their bills.

Trump can fix the economy but he can't fix stupid.

 

Maybe they should have paid attention in economics class in high school instead of sneaking out and hitting the bong.

 

Americans have trouble to stay out of debt and default on car loans in record numbers, and the thread turns into another disdain fest against the poor. No surprise there. The immigrants and the poor, in other words, the most unfortunate segments of society, have always been the target of the wrath of the "personal responsibility" crowd. And then the same crowd turns around and buys a car on a 72 month loan, because Trump is winning. You can't make that stuff up.

 

That’s a shame. But the answer is not higher taxes and more income redistribution.

 

Wow. You're desperate.

 

A situation entirely of their own making.

 

The topic started as an ignorant, bigoted, hyper-partisan rant against Trump.
Surely, you find that ridiculous.

 

Education in the US is failing. People are signing their names to do really dumb things, like signing for student loans and big SUV's and quad cabs they cannot afford.

Poor, dumb people. Poor dumb people. But when you sign your name stupid has to pay.

 

Can you imagine? It's Obama's fault that people aren't paying their car loans? You can't make this stuff up.

 

There are two stupid parties in a 84 month car loan, the buyer and the lender.

 

I'd say that a 68 month car loan is already fairly silly, however, that's the average length of a car loan these days. It means that the average American basically cannot afford to buy a new car, unless they take an almost 6 year loan on an "asset" that loses 1,000s of dollars straight after you drive it off the dealer's lot. How is that a sustainable (and responsible) business model for car companies, selling cars to people, which they can't afford?

This is not something that is partisan, it is a problem that the American consumer is getting increasingly over-indebted, with consumer debt at record highs and savings rates at almost record lows (in fact probably negative savings rates for the bottom 50%). Trump's economic "boom" is not going to change this depressing state of affairs, in fact, it is going to make it worse, because it makes people feel prosperous, when in reality they are not.

 

People thought Obama was going to put gas in the tank and pay the mortgage.

I heard them say it.

That's the fault of public education, not Obama, but I heard them say it.

 

I'd like to know who the hell you are hanging out with, so I can stay the hell away from them.

 

If somebody wants to give me zero% over 7 years, I'll take the free money and run, especially when I can buy it outright today

 

BS

 

I see homes advertised for sale at less than $10k, in America. Are you saying that even a family of welfare recipients can't pull together and buy one of these? Or rather, even a family of welfare recipients can pull together and fund one of these. Obviously, if someone says they can't afford such a property, they're lying through their teeth. What they really mean is that they'd have to give up vices and do compromise and stuff, and that's not fun.

 

They're only unaffordable if you can't afford them. They're plenty affordable to the people who can afford 'em.

Millenials may as well be saying "gold plated Lambo's are super expensive, so Imma cry poor because I can't buy one. the govt should help me. because I like those cars".