The current car market is unsustainable. 96 month loans are becoming common place. It is just a matter of time until people who purchased their cars during chip shortage are massively underwater on their cars. If they have long loans and the cars start having major problems they won't be able to roll negative equity into their next car loan.
People are extremely irresponsible with money and cars with high, long time loans are a great wealth destroying 'vehicle'.
I think the social media helped fuel the 'I want NOW!' culture. This gave life to scalpers and $10k mark up on cars. I'm interested how all this is going to unfold.
People are extremely irresponsible with money and cars with high, long time loans are a great wealth destroying 'vehicle'.
I think the social media helped fuel the 'I want NOW!' culture. This gave life to scalpers and $10k mark up on cars. I'm interested how all this is going to unfold.