So we all know that housing is a big bubble, again. But what about cars?
>car mfgs have their own loan department
>you can get a car loan with a pulse and a credit score
>new car prices are astronomical, probably to drive up the cost of the loan
Is coronavirus gonna pull the bottom jenga block out of the car loan market?
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>car loans/lease
markets already dead
they just been too busy to count the bodies
and bailing out this entire shitfest maybe a brrr to far, even by current standards
aren't car loans in some CLO products? or im i retarded and that's just corporate debt.
What are the stats are car purchases and financing? Every car I've ever bought I've just paid in full. It's not like housing where it's basically impossible for 99% of people to pay outright.
What fraction of people get a car loan?
What fraction buy used vs new?
What does the average person spend on a car?
Quick story. I went with my friend to a Toyota dealership in city dies not matter. He found the car he wants and we went to buy it.
My friend works part time in fast food. When he entered income the finance person looked at it shocked and said “we sell cars here, with this income you cannot buy a TV” but he went along with the process by upping the numbers and entering zero expenses. Loan approved.
His loan was six years and the payments would be almost half of his monthly income.
Luckily he got into a crash with a semi, the insurance paid off his loan and he bought a used Prius.
Imagine paying a car loan for six years!
This isn't something that I've research in-depth, it's something I smell.
>why am I seeing so many brand new F150s and SIlverados covered in Oakland Raiders stickers?
first this and next up private residential loans
Sure, but I'd want to see the stats as well. Although it's no secret that modern dealerships make the majority of their profits off financing, and the product itself is becoming more and more an afterthought.
Personally I will just never understand why people bother buying new when you can get something just as good with a couple dozen thousand miles on it
Why couldn't Fords new entry level truck have come out this year instead of next.. maybe I coulda got a good deal...
Tfw got 0% loan on a brand new car. purposely paying it across 6 years because it's a car I'll keep at least 10 and doesn't have interest
What made the mortgage bubble so catastrophic was the leverage on CDO's
Absolutely agree some stats would be nice. Also yeah a used corolla is gonna last a lifetime lol
car companies don't make too much of a profit margin, the ones hurt would be the finance companies
Car loans are so cheap, why wouldn't you pay the interest on it? Don't you understand that there is an opportunity cost for the money you spend? Pay the interest for the loan, and invest your money into something with a higher rate of return.
fuck off, shlomo
what truck/country?
ranger came out last year, they're making an even smaller version?
The AAR reported an 81% drop in autorack carloads in the month of March.
Do with that information what you will.
what brand?
Same here. I bought using 0% at the longest terms I could get, hoping for big inflation. Zero interest for 72 months is pretty ridiculous. Usually in indicator an auto manufacturer is trying to offload overproduced cars. The same as paying cash, but better.
>.t Yas Forumso/ogyst
Another thing I want to know: How many cars are base models vs. fully loaded soccermom tanks?
I couldn’t believe mine either. Free money. Thx guiz.
what are the insurance requirements for this
Collision. The lender wants their money in case if a crash.
Yeah some $20k model because the ranger is too expensive
post the uncensored version pls sir
The new ranger is just a shitty F150. Small pickups died with CAFE standards and they will never come back.
because (((cars))) are a depreciating asset???
stupid boomer
>2025
>running out of Trumpcoins
>crash my car head first into a brick wall
>ford pays me $7000 to take a brand new mustang off the lot
>$1000 up front with $500 a month for 12 months
>get paid $70 to fill tank
>mfw
over 70 grand for that thing no thanks
God you're retarded. The financing cost is built into the car sticker price. You pay 0% but the sticker price is 40% over the actual value of the car.
Anyone who buys a new car is a fucking brainlet.
the problem is that used cars are almost as much as new ones these days
Nothing wrong with paying off a car for 6 years. A good vehicle can last 20+ years.
As long as you get a good interest rate, and don't overpay for the vehicle.
I bought a '16 Corolla from a private seller and financed it through BoA for 2.84% for 7 years. I can use the money for other purposes...