Auto Loan/Credit Scandal

[SyGolden48236]

TransUnion’s annual auto loan forecast
calls for auto loan debt to continue to rise
to $18,244 at the end of 2015.
This would mark 19 consecutive quarters
of increases since the first quarter of 2011,
when auto loan debt per borrower
stood at $14,954

More people are defaulting on their car loans



A 400 to 500 dollar monkey on the back is hard to shake off and lingers for a good long while

USA needs cars at less sticker shock, less debt

There is nothing wrong with financing an automobile. It is foolish to pay cash for a car when you can borrow the money for around 3%. Keeping your cash properly invested and earning a rate of return of about 3 times what you pay to finance a car is a much smarter way to go.

And if you want cars with "less sticker shock" as you say, then you need to lobby the government to stop requiring expensive emission controls and safety equipment on new cars. You will also have to learn to do without modern conveniences like remote starters, heated and cooled seats, bluetooth, voice recognition controls, streaming audio from your phone, in-car internet connections, DVD players, telematics systems, and the like. All of those things cost a great deal of money.

Cars cost what they do today because of governmental requirements and consumer demands.

[DetroiterOnTheWestCoast]

There is nothing wrong with financing an automobile. It is foolish to pay cash for a car when you can borrow the money for around 3%. Keeping your cash properly invested and earning a rate of return of about 3 times what you pay to finance a car is a much smarter way to go.

And if you want cars with "less sticker shock" as you say, then you need to lobby the government to stop requiring expensive emission controls and safety equipment on new cars. You will also have to learn to do without modern conveniences like remote starters, heated and cooled seats, bluetooth, voice recognition controls, streaming audio from your phone, in-car internet connections, DVD players, telematics systems, and the like. All of those things cost a great deal of money.

Cars cost what they do today because of governmental requirements and consumer demands.

Yes, we need more pollution, as well as deaths and serious injuries. As well as the increased insurance costs from the latter two. And while we are at it, how about diminished fuel mileage? I'm sure these low gas prices will last forever.

[SyGolden48236]

Yes, we need more pollution, as well as deaths and serious injuries. As well as the increased insurance costs from the latter two. And while we are at it, how about diminished fuel mileage? I'm sure these low gas prices will last forever.

Well, Willi wants cars to cost less and the things I mentioned are the major reasons cars cost what they do today.

Nobody is advocating for more pollution and traffic deaths. Don't be silly.

[Gpwrangler]

Well, Willi wants cars to cost less and the things I mentioned are the major reasons cars cost what they do today.

Nobody is advocating for more pollution and traffic deaths. Don't be silly.

There are plenty of good used cars out there. You don't need all the bells and whistles to get to work. You do have to pay attention when driving if your car doesn't steer itself or have side airbags.