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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: 791
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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#18. To: Jethro Tull (#15)
(Edited)
In Burgundy red? I recall that as being a very popular starter car at the time of my childhood...I was 7 in 1965... --Perfecting Obscurity Since 1958...
Mine was white. I paid my cousin $50 for it. We haven't spoken since.
You quit school? How did you get so smart?
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... --Perfecting Obscurity Since 1958...
I went back part-time in 1980 and then fulltime in 1982...my rock and roll dreams dashed... How did you get so smart? I read your posts on various *chit-chat* boards... --Perfecting Obscurity Since 1958...
Ha... IIRC, at the time of the Comet, Iaccoco was working @ Ford and trying to steal ideas from the Mercury division... --Perfecting Obscurity Since 1958...
That's when I first heard the term, "planned obsolescence." Weren't Pintos the subject of an investigation? Exploding gas tanks maybe?
We've never bought a new car. My wife would rather walk than have a car payment. Fedgov's Cash for Clunkers program took a lot of good used cars out of the market a few years ago, but the used market is starting to recover now. And now with Craigslist they're easier to find.
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... --Perfecting Obscurity Since 1958...
I bought 1952 Ford, six cylinder flathead engine for 200 bucks. Drove it 150K sold it for 100 bucks. Never put a dime in it.
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. " If you cannot govern yourself, you will be governed by assholes. " Randge, Poet de Forum, 1/11/11 "Life's tough, and even tougher if you're stupid." --John Wayne
My first ride was a 65 Mustang. That was a fun car. My brother had a '66 that I made off with when I could. He did mention he had a Rambler, so between that, the Gremlin & the Pinto I think it nudges him close toward entry into the American POS Car Hall of Fame.
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? --Perfecting Obscurity Since 1958...
...I didn't...the person who sold me the Pinto did... Family car in early 60's was a Rambler station wagon... --Perfecting Obscurity Since 1958...
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. : ) " If you cannot govern yourself, you will be governed by assholes. " Randge, Poet de Forum, 1/11/11 "Life's tough, and even tougher if you're stupid." --John Wayne
Yes...I wanted the Vibrant Orange!!! Actually my dream car right now is a '66 GTO...ragtop... --Perfecting Obscurity Since 1958...
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
First year as a separate model...love this car...
--Perfecting Obscurity Since 1958...
Family car in early 60's was a Rambler station wagon... OK then, but you do realize that your honesty removes you from further POS Hall of Fame consideration.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
You kids never drove a Packard?
Ha... I RETRACT!!! I RETRACT!!! --Perfecting Obscurity Since 1958...
Closest that I got to a Packard was a '50 Mercury; man, was it ever nice, huge back seat.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
What???? I didnt drive from backseat.
So, you ARE the top 1%, outed at last: My first car was a 1961 Mercury Comet.
#19. To: war (#18)
#20. To: war (#16)
#21. To: Jethro Tull (#15)
Gremlins and Pintos were the beginning of the dark years for American cars.
#22. To: Fred Mertz (#20)
(Edited)
You quit school?
#23. To: Jethro Tull (#19)
Mine was white. I paid my cousin $50 for it. We haven't spoken since.
#24. To: war (#21)
US car makers went from making a car that lasted to looking for repeat customers every 3 years
#25. To: Cynicom (#2)
I use to drive $200.00 bombers rather than buy on time.
#26. To: Jethro Tull (#24)
(Edited)
Exploding gas tanks maybe?
#27. To: StraitGate (#25)
#28. To: Jethro Tull, war (#15)
Gremlins and Pintos were the beginning of the dark years for American cars. Two royal POS right there.
#29. To: abraxas, war (#28)
War still laments not owning a Pacer for that would have been the trifecta of American POS...
#30. To: abraxas (#28)
War still laments not owning a Pacer for that would have been the trifecta of American POS.
#31. To: Jethro Tull (#29)
He did mention he had a Rambler...
#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 -
#35. To: Lod (#34)
#36. To: war (#31)
...I didn't...the person who sold me the Pinto did...
#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)
#40. To: Jethro Tull (#36)
OK then, but you do realize that your honesty removes you from further POS Hall of Fame consideration.
#41. To: Cynicom (#39)
#42. To: Lod (#41)
Closest that I got to a Packard was a '50 Mercury; man, was it ever nice, huge back seat.
#43. To: Cynicom (#39)
Packard
-Alex Kurtagic
#44. To: X-15 (#43)
See the spare tire on the side???? One we had, to remove the wheel, it had reverse threads. Dont ask me why.
#45. To: Cynicom (#42)
Great point; I too was only along for the ride.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#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.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#47. To: Lod (#46)
I never knew why, thanks. The 12 cylinder ran like a charm and it was heavy. I was too young for backseat "driving". I am shocked you would do such. 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.
#48. To: Lod (#46)
Ford just kicked the hornet's nest: https://media.ford.com/content/fordmedia/fna/us/en/news/2015/06/02/526- horsepower-ford-shelby-gt350-mustang.html 526-Horsepower Ford Shelby GT350 Mustang Exceeds 100 Horsepower Per Liter with New 5.2-Liter Flat-Plane V8 At 102 horsepower per liter, the all-new 5.2-liter V8 for Shelby GT350 Mustang and Shelby GT350R Mustang is both the most power-dense and the most powerful naturally aspirated road-going engine in Ford history •All-new Ford 5.2-liter flat-plane crankshaft V8 – an engine unique to Shelby GT350 and Shelby GT350R – produces 526 horsepower and 429 lb.-ft. of torque •With a redline of 8,250 rpm, the all-new 5.2-liter engine is the highest- revving production V8 in Ford history Dearborn, Mich., June 2, 2015 – Its crankshaft may be flat, but its power output is anything but “plane.” Ford announced today the most powerful naturally aspirated road-going engine in its history. The all-new Ford 5.2-liter flat-plane crankshaft V8 will produce 526 horsepower and 429 lb.-ft. of torque in Shelby GT350 Mustang and Shelby GT350R Mustang – an engine unique to the two models set to go on sale this fall. “The Shelby GT350 program began with a clear objective – create the most balanced, nimble and exhilarating production Mustang yet,” said Jamal Hameedi, Ford Performance chief engineer. “Every change we made to this car was driven by the functional requirements of a powerful, responsive powerplant. The high- revving, naturally aspirated 5.2-liter flat-plane V8 delivers on every target we set – high horsepower, broad torque curve, aggressive throttle response and light weight.” The all-new 5.2-liter V8 is not only Ford’s most powerful naturally aspirated engine ever, but also its most efficient in terms of specific output. Without turbocharging or supercharging, the flat-plane crankshaft V8 produces 102 horsepower per liter of displacement. The new engine is also the highest- revving V8 in Ford history – with a redline of 8,250 rpm. Unlike traditional V8 engines, the all-new 5.2-liter uses a flat-plane crankshaft more typically found in a Ferrari sports car or in racing applications. The design of this new engine for the Shelby GT350 was optimized using computer-aided engineering and fully digital performance simulations. Millions of intake, cam and exhaust configurations were iterated before arriving at the optimal combination. Better engine breathing delivers optimal power Traditional cross-plane crankshaft V8 engines attach the piston-carrying connecting rods to the crankshaft at 90-degree intervals, creating a “cross” of counterweights when viewed down the axis of the crankshaft. In the all-new Ford 5.2-liter V8, the connecting rods attach to the flat-plane crankshaft at aligned 180-degree intervals – creating what looks like a flat line of counterweights when viewed down the axis of the crankshaft. Beyond a change in the characteristic sound of an American V8, the flat-plane crankshaft helps improve cylinder exhaust-pulse separation by allowing a firing order that alternates ignition events between the V8’s two cylinder banks. This can vastly improve engine breathing, and subsequently allow the engine to make more power. The result in the new 5.2-liter V8 – in addition to a uniquely exotic, delicious engine note – is 526 horsepower at 7,500 rpm and 429 lb.-ft. of torque at 4,750 rpm. Even more impressive is the track-tuned flexibility of the engine’s exceptionally wide powerband. It produces 90 percent of peak torque from approximately 3,450 rpm through 7,000 rpm, and features a racetrack- friendly spread of nearly 3,000 rpm between its torque and horsepower peaks. In both Shelby GT350 and Shelby GT350R, the all-new 5.2-liter will be paired with a six-speed manual transmission as its only gearbox option. The Tremec TR- 3160 six-speed manual is specifically engineered for less mass and high-rpm application in the new Shelby Mustangs. The six-speed features a lightweight, die-cast aluminum case and clutch housing for increased overall powertrain stiffness. Gear cross-sections, the dual-mass flywheel and dual-disc clutch are all optimized for an overall reduction in inertia and weight. Other aspects of the new 5.2-liter V8 (actual displacement is 5,163 cubic centimeters) include a slightly oversquare bore and stroke of 94x93 millimeters, and a performance-enhancing 12.0:1 compression ratio. Computer numerical control-machined cylinder heads house camshafts that develop a massive 14 millimeters of lift for both the hollow-stem intake valves and sodium-filled exhaust valves. A single, fast-acting 87-millimeter throttle body – the largest ever used for a Ford engine – feeds air to the engine, allowing for a simpler, lighter intake. Further reducing engine weight is a unique new aluminum engine block featuring Ford’s patented plasma transferred wire arc cylinder-liner technology. This process eliminates typical heavy iron cylinder liners with a deposition process. The forged-steel flat-plane crankshaft is “gun drilled” to reduce total engine weight and to improve bay-to-bay cylinder breathing. A lightweight, high-capacity composite oil pan contains baffling designed for sustained high-speed cornering and hard braking. “A new Mustang as exceptional as the Shelby GT350 deserves an equally extraordinary engine,” said Dave Pericak, director, Ford Performance. “The all- new naturally aspirated 5.2-liter V8 perfectly fits the balanced dynamics of the Shelby GT350, and we believe this new engine will become a performance legend.”
-Alex Kurtagic
#49. To: All (#48)
- 526 HP - 429 LB-FT - 102 hp per liter - 8250 RPM rev limiter - 12:1 compression (93 octane) - 87mm throttle body - Second generation block - honed with torque plates - Cylinder heads 6% lighter than Coyote - Larger valves than Coyote - 14mm lift cams - Active exhaust valves - Rifle drilled crankshaft - Crankshaft represents only 15% of rotational inertia - One-piece oil pan and windage tray - Better flowing intake than Boss 302 - Most Power dense and powerful NA road-going engine in Ford history
-Alex Kurtagic
#50. To: Cynicom (#47)
I was so shocked at the results, that I was compelled to attempt to duplicate the results. Only for the scientific documentation of such a phenomenon. I am shocked you would do such.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#51. To: X-15 (#49)
Fifty years ago, I'd have donated the left nut to have one of those cars. Wow! smokin'
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#52. To: X-15 (#49) (Edited)
Dang ol' flat plane crank, street car, dadburn bad idea man. I've switched my 71 Montego Colony Park over to an entirely hybridzed traction employing nothing more than a newfangled LI battery pack and a generator driven by forced induction. I have a cousin in Nigeria who is handling all the marketing hoo-ha.
corruptissima re publica plurimae leges - Tacitus
#53. To: Lod, X-15 (#51)
Fifty years ago, you could not have baought a car with this level of performance for any price. Unless you only wanted to go in a straight line, that is. Come to think of it, that car is almost as fast as the dragsters from 50 years ago. Not exactly practical, but it would sure make for a fun drive through the woods. Fifty years ago, I'd have donated the left nut to have one of those cars.
corruptissima re publica plurimae leges - Tacitus
#54. To: Lod (#51)
Ford usually leaves some HP 'corked up' and a good tune and some bolt-on parts will really let it scream. "Ford officially released the Ring times and GT350 and 350R are 2 and 5 second faster than the Z/28 and the GT350R is 1 second faster than the current gen 911 GT." Engine pics:
-Alex Kurtagic
#55. To: Dakmar (#53)
A Back to the Future moment here...if only. Fifty years ago, you could not have baought a car with this level of performance for any price.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#56. To: Dakmar (#53)
The newer supercharged Corvettes go into 'limp-mode' after a couple of laps at a racetrack. Not the new GT350/GT350R, which has a lower displacement in cubic inches, too. When the owners/race teams get them they'll really tear it up. These are not drag cars, they're track cars and are more balanced for performance street use like the older Trans-Am series car. Not exactly practical, but it would sure make for a fun drive through the woods.
-Alex Kurtagic
#57. To: X-15 (#56)
Exactly - track cars have to be able to run for hours, where slot-cars only have to run for seconds. Big difference, big, big, difference.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#58. To: Lod (#57)
Moar Shelby:
-Alex Kurtagic
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