Automotive bubble about to pop
01-15-2016, 12:59 AM
#1
Suzuka Master
Thread Starter
Automotive bubble about to pop
The sub-prime auto lending bubble could be about to burst - Business Insider
Average loan term for new cars is now 67 months — a record.
•Average loan term for used cars is now 62 months — a record.
•Loans with terms from 74 to 84 months made up 30% of all new vehicle financing — a record.
•Loans with terms from 74 to 84 months made up 16% of all used vehicle financing — a record.
•The average amount financed for a new vehicle was $28,711 — a record.
•The average payment for new vehicles was $488 — a record.
•The percentage of all new vehicles financed accounted for by leases was 31.46% — a record.
Ships Map - Vessel Tracking & AIS Positions Map | AIS Marine Traffic
a lot of ships moored in ports
Auto Loans: Next Bubble to Burst?
What do you all think?
Average loan term for new cars is now 67 months — a record.
•Average loan term for used cars is now 62 months — a record.
•Loans with terms from 74 to 84 months made up 30% of all new vehicle financing — a record.
•Loans with terms from 74 to 84 months made up 16% of all used vehicle financing — a record.
•The average amount financed for a new vehicle was $28,711 — a record.
•The average payment for new vehicles was $488 — a record.
•The percentage of all new vehicles financed accounted for by leases was 31.46% — a record.
Ships Map - Vessel Tracking & AIS Positions Map | AIS Marine Traffic
a lot of ships moored in ports
Auto Loans: Next Bubble to Burst?
What do you all think?
01-15-2016, 06:55 AM
#2
Team Owner
I read somewhere that the game is to keep the payment under $500 then the consumer will buy the car. I guess the term of the loans will continue to grow as people continue to load new car loans with balances from old loans.
01-15-2016, 09:53 AM
#3
lease new, buy used
01-15-2016, 09:59 AM
#4
Team Owner
That's why I drive a ten year old car. Sadly.
I hate being in debt. I hate making payments. I hate paying interest. And it seems new car prices just get higher and higher every year, because cars are being crammed with more stuff that no one really needs, like active cruise control. One company puts it in and then everyone feels the need to follow.
I hate being in debt. I hate making payments. I hate paying interest. And it seems new car prices just get higher and higher every year, because cars are being crammed with more stuff that no one really needs, like active cruise control. One company puts it in and then everyone feels the need to follow.
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Rapture (09-01-2016)
