The closest I’ve seen to a “brown, manual wagon” in the past several years is a Mazda 3 hatchback. Even the Panamera doesn’t qualify.

Which financial professionals are doing that? Please don’t confuse salespeople with financial professionals. No one with fiduciary responsibility would advise someone to get an 8 year auto loan.

Are there going to be repo’d brown, manual wagons? Asking for a friend.

It doesn’t even have to be that used. CPO is often a huge discount on a car that may only be 1 year old.

I was going to refute this as too general, but you’re right. Many millennials have an issue with this. I have a few friends who are financially illiterate. They often recommend buying a new truck because mine has 100k and rates are cheap. I always respond that its paid off and easy to maintain, why take a loan on a…

Yeah but they’re killing POC in OTHER countries.  So we don’t really notice/care.

I don’t think it will be that bad. Lose your house and you’re going to have a REALLY hard time getting financed to get a new one. Lose you car and worse case is you’re going to end up getting some old POS off craiglist for under $1k.

The american dream of living above your means and not saving for retirement at all.

So buy a used car? Buy a great condition 2000-2005 Honda Accord for $3,800.

Because they think they need more. Like the guy I had an exchange with on here a week or so ago who posted that a new car was his ONLY option since he had poor credit and couldn’t buy a gently used car outright. Here is his direct quote:

“If you need a ride, and you don’t have the time to grab a secured credit card…

Because if people actually bought what they could afford, what would the tools drive? 70,000 dollar pavement princess trucks would be no more.

Because wages have been flat for a decade & the middle class is dying off. At the same time banks have lowered their standard of who they’ll lend money to.

Totally! I think these are probably cheaper per serving than Naked and possibly have less sugar.

It really depends on what part of the financial industry implodes. While we only hear about auto lending on Jalopnik, there’s also a growing student debt problem. Let’s also not forget the rampant payday loan industry that refuses to die, plus the good ol’ Private Equity industry, which will eventually bankrupt a…

And think of the effect of the auto market with all those repo’d vehicles back on the lot...

And think of the effect of the auto market with all those repo’d vehicles back on the lot...

“Relax, lenders aren’t stupid...”

Relax, lenders aren’t stupid. They aren’t giving this out to people with 550 beacon scores.

This economy is overdue for a correction, and it’s likely to come as a result of inflation and rising interest rates. The subprime auto loan implosion isn’t likely to be as bad as the subprime home loan disaster, but it’s going to be ugly.

That’s part of the problem. Police departments actively recruit among former military.