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

If your student loan isn't paid off by age 30, you picked the wrong degree.

 

How is it ALWAYS someone else's responsibility?

 

This can't be true, surely?

 

You forgot overseas travel. And organic produce.

 

I think it's fair to say there are many in that age group with the wrong degree......

 

No it isn't. Your education system is very good.

 

If the government is going to be the one enforcing those debts, the government should also be able to have some say about how people enter into debt contracts in the first place.

 

Yes, but the vast majority of people in the country do not live anywhere near the places where homes are selling for $10k.
Even if they picked up and moved, it's likely they would remain in poverty in those places where homes are selling for $10k.

The U.S. has some big issues which I outlined in this thread: Declining Regions in the U.S.

Turns out the U.S. has plenty of space, but there are several regions across the country where people are having trouble living, there is just no job opportunity there.

 

What do jobs have to do with it? I gave the example of welfare recipients.

 

How does govt enforce a car loan?

 

Ok, you have a point.

 

That sounds like a democrat problem; too many people believing that crap that someone else should pay their bills.

 

So essentially, you want to give people a pass on irresponsibility because "that'll happen" and then hold the position that other people should adjust their behaviors to mitigate peoples irresponsibilty?

Really?

 

Lol. One car, for a loan of 706 per month?

Wtf

I drove a 2015 GMC Yukon Denali and my payment is 843 on a 60 month note.

What the hell are these people buying?

 

Another reason this is the fault of leftists - Regulations on the auto industry!

Cars have to be super expensive because off all the BS they are forced to comply with..

Airbags
Crash testing
emissions
ABS
Safety safety safety

https://arstechnica.com/cars/2017/1...edly-kills-vehicle-to-vehicle-safety-mandate/
How much would that have cost?

It is illegal to make and sell basic affordable cars!!

You have to buy a $5,000 POS car with $15,000 worth of safety in it..

Average people are ignorant of cars. They lose so much money on depreciation and maintaining/fixing them it makes me sick.

I pay cash for all my cars, buy very nice "special" cars that hold their value, future classics, buy cars that need fixing cheap, maintain and drive them forever, and save 10s of thousands of dollars easily and love my cars..

People on the road in their $30,000 new junk grocery getters now worth $5,000 at best are jealous of my rides and probably wonder how I can afford them, but my cars cost me less money than they lose on their car in 5 years and I still have the resale value of what I paid for them.. Morons..

3 of my cars and my motorhome values are increasing..
Admittedly my current winter DD and what I bought my mom to DD probably will never increase but I have so little money into them and no huge depreciation or loan interest that I can easily afford to lose everything on them.. They could both burn to the ground today and I'd lose less money on them than driving a new impala/average boring car off the lot.

I look at all the cars on the road and it is insane to me all these people throwing away so much money.
If you don't understand cars you are just flushing massive amounts of money down the drain..

 

Why don't people just buy cheaper cars? I bought my car for $13,000 and it works fine for me. You can also buy a car off of Craigslist.

 

Because they are stupid and gullible..

 

The vast majority of people aren't very smart. The best thing we can do is have policies and culture that encourages them to excel, help them find good careers, and make sure they are getting a decent share of the economic growth.

 

Dirty Donalds tariffs on steel and aluminum and all imported auto parts are driving car prices through the roof.

 

$706 is the monthly total cost to own, not the loan payment.

BTW: Your Yukon Denali has a 5 year total cost of ownership of $78,623, or monthly cost of roughly $1,300. That's the metric I look at when buying a car. My Honda Fit has total cost to own of about $450 per month, after first year depreciation. Also, I paid cash.

Overall, the average American can only own the average new car by going deeper and deeper into debt, rolling loans over into the next new car. You can talk about whether that is responsible or not (it isn't), but it is what it is. It is also not sustainable and will lead to another crash in the future, just like the "buy now pay 24 months later" charade led to the crash in the GWB years. Trump and his fans can keep gloating about the fantastic Trump economy, it doesn't eliminate the fact that the American consumer is tapped out. That's economic fundamentals, not "feelings" that the Trump economy is all about.

 

Everybody pays for other people's irresponsibility. I am slim and physically active, trying to stay healthy. Others smoke and eat junk food and are obese. Do I moan constantly on an internet forum that my health insurance pays for treatment of those "irresponsible" people when they get sick? No, I have better things to do. You can complain and complain about people being irresponsible, it won't change a thing. I for one, think that paying $80,000 for a Yukon Denali shows a lack of good judgement. Is it my business? No, so I won't complain about it.

 

Might be he needs to seat 9 and regularly drive in the snow.

 

And lenders keep lowering the required down payment while adding to the years the loan will be outstanding.

 

Don't take one out if you can't pay.

 

Demand that responsible and hard working people 'do better', but never EVER ask slackers to even so much as think about trying.

And they regard themselves as 'compassionate'. LOLZ.