The Growing Auto Loan Problem Facing Young Americans

Source: https://www.zerohedge.com/personal-finance/growing-auto-loan-problem-facing-young-americans
Published: Mar 18, 2023
Author: Tyler Durden
Post Date: 2023-03-18 20:53:11 by Horse
Views: 1174

...the amount of auto debt transitioning into serious delinquency is much higher for Gen Z and Millennials.

Poster Comment:

Poor people with paid off cars can't afford repairs and gasoline. Looks like they want us to live in Smart cities which are prisons for the commoners.

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#1: Esso    To: Horse, 4um (#0)

Jesus, I'm pretty well off, but I couldn't justify paying about six times what it cost me to build my first house (the one I'm living in. I lost my good one in a divorce) for a car. Any car.

Cars are crazy expensive. I bought a new 1980 Z28 off the dealer's showroom floor. I don't remember what I paid for it, but the sticker price was $8,000.

What's one now? I USED to love cars.

Esso posted on 2023-03-18 21:15:47   Reply   Private Reply

#2: StraitGate    To: Esso (#1)

I've never bought a new car in my life. And if I won the $250 million lottery tomorrow (not likely since I've never bought a ticket) I still wouldn't buy one. I just don't want one.

StraitGate posted on 2023-03-18 21:31:08   Reply   Private Reply

#3: Esso    To: StraitGate (#2)

I still wouldn't buy one. I just don't want one.

freedom4um.com/cgi-bin/readart.cgi?ArtNum=270451

Did you see my post this morning about the Hudson Big Boy?

Cry your eyes out.

Esso posted on 2023-03-18 21:36:22   Reply   Private Reply

#4: StraitGate    To: Esso (#3)

Now THAT's a nice truck. 102 hp wasn't bad for the day.

StraitGate posted on 2023-03-18 21:46:45   Reply   Private Reply

#5: Esso    To: StraitGate (#4)

3/4 ton, no less.

Esso posted on 2023-03-18 21:48:58   Reply   Private Reply

#6: Dakmar    To: StraitGate, Esso (#4)

Three-on-the-tree is just wrong. Diabolical!

Dakmar posted on 2023-03-18 21:53:47   Reply   Private Reply

#7: StraitGate    To: Esso (#5)

Yep. I've liked my 1/2 tons over the years -- never had a 3/4 ton. But the people I know who own a 3/4 ton say they like it better than the 1/2 tons they've had. Stiffer, tougher, truckier.

StraitGate posted on 2023-03-18 21:54:36   Reply   Private Reply

#8: StraitGate    To: Dakmar (#6)

My first two trucks -- for almost 20 years -- were three-on-the-tree Ford F-100s. Had to depress the clutch with a stick when my right leg was in a full length (and I mean FULL length) cast after a motorcycle accident. That meant both hands off the steering wheel while shifting, so no shifting during a turn. And no power steering. Fun times.

StraitGate posted on 2023-03-18 22:03:48   Reply   Private Reply

#9: Dakmar    To: StraitGate, Esso (#8)

A friend of mine had a '63 Falcon with 3/tree, he was foolish (or sadistic) enough to let me drive it one time. I don't like to harp on this, but I ain't right (arthrogyposis). I did fine until I had to come to a stop, and then had to (try to) put it into first and make a hard right. Wasn't going to happen, I cranked the steering wheel but could not have shifted to first (or third) without passenger help, or from my right knee, which would have negative impact on keeping the revs up enough to let out the clutch smoothly.

There is a reason State of IN disapproves of letting me drive column shift (or any manual, although I did pretty good after same friend was too drunk to drive and I had to pilot 4/floor Ford EXP)

Dakmar posted on 2023-03-18 22:21:27   Reply   Private Reply

#10: StraitGate    To: Dakmar (#9)

One does what one must do. Sounds like you're coping pretty well.

StraitGate posted on 2023-03-18 22:38:33   Reply   Private Reply

#11: Dakmar    To: StraitGate (#10)

I have fun and don't let shit bother me :)

Dakmar posted on 2023-03-18 22:45:39   Reply   Private Reply