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Title: The $934 Billion Auto Loan Bubble - Subprime lending tactics in auto loans mimic the mortgage crisis
Source: [None]
URL Source: http://investorplace.com/2015/02/au ... an-bubble-stocks/#.VW2tHUZhnhM
Published: Jun 2, 2015
Author: John Divine
Post Date: 2015-06-02 09:27:30 by Jethro Tull
Keywords: None
Views: 1170
Comments: 58

The last major debt bubble, courtesy of subprime mortgages, wreaked absolute havoc on the U.S. and global economies when it flamboyantly burst in 2008.

Auto Cars Transportation 150x150 The $934 Billion Auto Loan Bubble: 5 Stocks to Sell NowSeven years later, a new bubble threatens our economy: the $934 billion auto loan bubble. Motor vehicle loans rose for the 14th straight quarter in Q4 2014, increasing by $29 billion from the quarter before and reaching a new record high.

Increasingly, people are defaulting on these loans: 3.5% of auto loans are in the 90+ day delinquency period, a sharp uptick from 3.1% in the third quarter.

Poster Comment:

I'm watching the Regime's mouthpieces on CNBC tout strong auto sales while never once discussing the subprime auto loan bubble. I read recently that the average car loan amount is app. $33k, payable over 7 years.

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Begin Trace Mode for Comment # 26.

#6. To: Jethro Tull (#0) (Edited)

I made a $15 profit on my first car...an AMC Levi Strauss Gremlin bought for $160....sold for $175.

I lost $75 on my second...bought for $100...junked for $25...a 1971 Ford Pinto in shit brown that I dubbed the Baked Potato...

war  posted on  2015-06-02   10:31:18 ET  Reply   Untrace   Trace   Private Reply  

Gremlins and Pintos were the beginning of the dark years for American cars. Two royal POS right there.

My first car was a 1961 Mercury Comet. It blew up on Flatbush Ave so I pulled the plates and abandoned it in at a bus stop :)

Jethro Tull  posted on  2015-06-02   11:41:20 ET  Reply   Untrace   Trace   Private Reply  

Gremlins and Pintos were the beginning of the dark years for American cars.

US car makers went from making a car that lasted to looking for repeat customers every 3 years...there was some survey done in 1966/67 for US automakers that showed the turnover in new cars from 1957 or so was, I think, 6-7 years...but used cars were every two...they tried to take advantage of that disparity via manufacturing...even though they will never admit to it...

war  posted on  2015-06-02   11:49:18 ET  Reply   Untrace   Trace   Private Reply  

US car makers went from making a car that lasted to looking for repeat customers every 3 years

That's when I first heard the term, "planned obsolescence."

Weren't Pintos the subject of an investigation? Exploding gas tanks maybe?

Jethro Tull  posted on  2015-06-02   11:57:15 ET  Reply   Untrace   Trace   Private Reply  

Exploding gas tanks maybe?

That's why I dubbed it the Baked Potato...1971 was the initial model year and I bought it used post-recall which I think was 1977*...my buddy had bought it used too but not sure when...neither of us ever had that piece of plastic installed...

My buddy also had a 1965 Rambler coup with three on the column which is how he got to Idaho...he didn't come back with it...sold it to some rodhead...

*1978 was the recall year...

war  posted on  2015-06-02   12:02:23 ET  Reply   Untrace   Trace   Private Reply  

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