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7m Americans 90 days late on car payments...

Strokerswild

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Gee, I wonder if it's because new car prices are insane?

Not to mention too many people are buying above and beyond their means, as usual....
 

trojannemo

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It's probably a good indicator that we're going down to another 2008 type situation.

This country really makes people want to compete with others. I won't pretend it hasn't happened to me. Luckily I'm able to pay my bills but damn.
 

Strokerswild

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BmacIL

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ugstang17

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Surprised it isn't even higher. Poor life choices. Don't assume more than your budget can afford. Plenty of decades passed before I was finally in a spot to be able to buy a muscle car. Some not my doing some was my doing. Either way I chose to drive the less desirable option rather than be automoblie poor because I was unable to afford the other costs associated with ownership along with my other financial obligations. Too many "want it now" people today.
 

Strokerswild

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SVT-DADDY

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Once again the pendulum has swung too far with the lure of 15% auto loan rates for financiers.
 

Zooks527

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Plenty of decades passed before I was finally in a spot to be able to buy a muscle car.
Pretty much this.

I'm 60 at the moment, with a Mustang on order. Do I hear the "mid / late life crisis" nonsense? Sure. But the reality is that I would have been driving this car at 30 if I wasn't dealing with 2 kids / mortgage / etc. at the time. Now, I have my truck to drive daily, a Mustang on order as a toy, and there aren't going to be any payments associated with either.

Could I have bought and financed my way to cars I couldn't really afford earlier in my life? Sure. But I wouldn't be where I am now if I had, and the "crisis" folks can go pound sand if they don't understand that.
 

SVT-DADDY

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Pretty much this.

I'm 60 at the moment, with a Mustang on order. Do I hear the "mid / late life crisis" nonsense? Sure. But the reality is that I would have been driving this car at 30 if I wasn't dealing with 2 kids / mortgage / etc. at the time. Now, I have my truck to drive daily, a Mustang on order as a toy, and there aren't going to be any payments associated with either.

Could I have bought and financed my way to cars I couldn't really afford earlier in my life? Sure. But I wouldn't be where I am now if I had, and the "crisis" folks can go pound sand if they don't understand that.
You did it right my man.
 

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SINBUSTER007

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i am not in this situation, all 4 of the cars are paid off. we make sure we have enough to put down and that payments are within budget otherwise we either look for cheaper car or we dont buy at that moment.
you can thank society for the "want it now" movement....no matter what the cost, because society has made it easy to just file for bankruptcy and clear your debts and start over....
just look at all the ads and commercials on tv, radio, etc, telling you what you "need" to have....otherwise you are an outcast. gotta have it gotta have it.
but what do i know....everyone just tells me im stupid and dont know what im talking about.....
 

Strokerswild

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I'm the same way, three of four cars and three motorcycles are paid off; the fourth is 0% and could be free and clear easily since it was a holdover that I basically stole. I'll have my mortgage knocked out by the time I'm 55.

When and if I finance a vehicle (I paid cash for my '13 Jeep), I plunk enough down so the note can be dispatched in four years or less comfortably. Too many are getting into high-dollar vehicles with little down and get killed by the payments.

All the time I wonder how seemingly everyone in my area can swing top-tier, 4-door pickups since the average income is relatively low....
 

Interceptor

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Last week I helped daughter buy a new 2018 Fiesta. Cheapest new car I could find. She can't really afford but her SUV gas hog was on its death bed.

Why I was talking with owner of small dealership he was on the phone quoting vehicle monthly payment to a new vehicle purchase which he said was a done deal.

$888.00 a month

The 12 year old SUV we were trading in hoping to get $500 real cash value for, was basically same vehicle this customer was buying brand new.
 

Angry50

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Last week I helped daughter buy a new 2018 Fiesta. Cheapest new car I could find. She can't really afford but her SUV gas hog was on its death bed.

Why I was talking with owner of small dealership he was on the phone quoting vehicle monthly payment to a new vehicle purchase which he said was a done deal.

$888.00 a month

The 12 year old SUV we were trading in hoping to get $500 real cash value for, was basically same vehicle this customer was buying brand new.
thats not even that high by todays standards lol.. but also depends on loan term. also cant compare a 12 year old vehicle to a new one
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