Americans Are Taking Out Ridiculously Long Auto Loans

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by Disloyal_Donkey

Car and Driver

Stumbled across this while researching which Buggati I want when these SPY Puts print money for the next recession.

TLDR: The middle class peasants can’t afford this shit. Auto loans, auto loan rates, and auto loan lengths are all averaging at their high. ($32,119 average, 6% APR for new, 10% APR for used, 69 month avg). Delinquencies remained stable even as some seven million people are 90 days or more behind on payments…..for now?

Basically, consumer is spending more than they have, on purchases they don’t need, and I’m going to get the DIVO. RECESSION BACK ON THE MENU


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