return2ozmaAmericans Are Falling Behind on Their Car Payments
BombOmOmdata from Edmunds says a record 17.5% of borrowers have payments of $1,000 or more
That is a crazy high number. You are approaching mortgage territory there (yes, mortgages can be that price outside of cities). People need to stop spending so much on cars. They do not retain value.
thedevisinthedetailsWhile I agree cars themselves are just insanely expensive. A $25k car has you at $450+/month and this is if you have excellent credit.
We need other options besides cars and unfortunately they’re the only option for many people.
People choose $80k cars on 5-7 year notes because “they can afford the payment” thinking that means they can afford the car.
wrath_of_grungethere are a great many cars to be had for less money.
maybe people shouldn't buy cars that cost half their yearly wages?
But if I drive a Mirage the neighbors will make fun of me.
Drive a Prius, all the cool kids are. Gen 2 makes you look kinda poor, but you still get green points. Gen3+, ur golden
I actually have a mirage. The only neighbor who makes fun of me is the guy next door, he has a truck, maybe if he tries real hard it will run one day.
Someone picks him up for work in a gen-2 Prius.
Lmao, I wish him luck with his truck.
There are some people in the US financing cars for 7-10 years. Half their yearly salary is actually more like 2x their yearly salary for many of them.
Exactly. “Not cars” is a solution to a ton of problems.
Uranium3006fuck cars