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Title: The $934 Billion Auto Loan Bubble - Subprime lending tactics in auto loans mimic the mortgage crisis
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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: 1148
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 # 44.
#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...
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 :)
War still laments not owning a Pacer for that would have been the trifecta of American POS. Well, two out of three is still pretty bad. :) My first ride was a 65 Mustang.
You have no idea how badly I wanted one of those...AM/FM radio standard equipment!!!! My first ride was a 65 Mustang. GT with the V8?
My first ride was a 65 Mustang. GT with the V8? I know! You could have had the joy of three on the tree too! : ) My first was a coupe with a six cylinder. My second was a 70 302 Boss. My fifth was a 69 convertible with a 351. The last one I had was a 68 CA Special with a quick little 302. Now, I am the proud owner of a 1973 Thing. I know you are seething with jealousy. : )
Yes...I wanted the Vibrant Orange!!! Actually my dream car right now is a '66 GTO...ragtop...
You kids never drove a Packard?
So, you ARE the top 1%, outed at last:
See the spare tire on the side???? One we had, to remove the wheel, it had reverse threads. Dont ask me why.
#46. To: Cynicom (#44)
To let the natural rotation of the wheels keep the lugs snug: several makers did that back when, until US became too stupid to figger it out and they gave up on US.
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#15. To: war (#6)
#28. To: Jethro Tull, war (#15)
Gremlins and Pintos were the beginning of the dark years for American cars. Two royal POS right there.
#30. To: abraxas (#28)
War still laments not owning a Pacer for that would have been the trifecta of American POS.
#32. To: war (#30)
You have no idea how badly I wanted one of those...AM/FM radio standard equipment!!!!
#33. To: abraxas (#32)
Now, I am the proud owner of a 1973 Thing. I know you are seething with jealousy. : )
#34. To: war, abraxas, 4 (#33)
sweet -
#37. To: Lod, war, abraxas, 4 (#34)
A '67 Firebird like this found a tree in B'klyn @ app. 80 MPH.
#38. To: Jethro Tull, abraxas, war, 4 (#37)
'64 riv' - a real magnet, back in the day -
#39. To: Lod (#38)
#43. To: Cynicom (#39)
Packard
#44. To: X-15 (#43)
Replies to Comment # 44.
End Trace Mode for Comment # 44.