Repossession of cars at a all time high

[UberEatsDriver]

 

[Tribal Outkast]

That’s their fault . But what you can afford

 

[aXiom]

I mean, people are driving around on rent money. I don’t know what to tell them. I wish them the best, but I fear this will get a lot worse before it gets better. Unless your money straight straight, I’d advise against getting into any long term commitments in this current state of the economy.

 

[Mook]

i can’t find a reputable source for this info so I’m calling bullshyt. But I really need to know if this is true. I was already leaning on the economy crashing and buying puts on spy. If repos are up that’s a huge indicator.

 

[⠀X ⠀]

The average car payment is $700 a month. So with insurance, gas and maintenance, people are paying around $1200 a month just for transportation. That’s a good chuck of most people’s paychecks.

 

[Flykid567]

The average car payment is $700 a month. So with insurance, gas and maintenance, people are paying around $1200 a month just for transportation. That’s a good chuck of most people’s paychecks.

Yea I don’t get where people gettting all this money from ?

 

[3rdWorld]

A new car is a terrible investment if youre kinda struggling with cash..it's usually for image purposes and the lie they tell themselves that maintenance is cheaper than a 2nd hand one.

 

[West Coast Avenger]

The american way.....live beyond your means bruh's..... ....

 

[Squirrel from Meteor Man]

Side effect of Covid/PPP relief. People bought cars based on the money they were getting at the time

 

[King Poetic]

everything is about status

Just look at that one video where people at that dealership talking about paying $1300 a month for a 21/22 vehicle

One woman look like she’s just a clerk at the dealership

People want to live like their bosses on $30,000 a year pay scale

 

[JLova]

Recession is near.

 

[CodeBlaMeVi]

The average car payment is $700 a month. So with insurance, gas and maintenance, people are paying around $1200 a month just for transportation. That’s a good chuck of most people’s paychecks.

Majority of folks are putting small down payments toward these cars. That affects your payments and interest rates.

 

[Matt504]

Yea I don’t get where people gettting all this money from ?

The answer is both easy and unfortunate, they don't have the money.

 

[King Poetic]

Majority of folks are putting small down payments toward these cars. That affects your payments and interest rates.

Yeah… people walking into dealerships with under 500 credit scores and walk out with $700 car notes and interest rates high ass fukk

BUT HEY!!! I CAN SAY IM IN THE SAME CATEGORY OF MY BOSS WHO MAKES TWICE AND THREE TIMES AS MUCH AS ME

 

[CodeBlaMeVi]

Yeah… people walking into dealerships with under 500 credit scores and walk out with $700 car notes and interest rates high ass fukk

BUT HEY!!! I CAN SAY IM IN THE SAME CATEGORY OF MY BOSS WHO MAKES TWICE AND THREE TIMES AS MUCH AS ME

Most Americans are financially irresponsible. It’s worse because they choose to be.