The perfect storm It’s coming

[Nova]

People struggling with their cars is less of a risk IMO than home loans and etc. Lots of people who bought cars during the shortage had no choice but to buy those cars. Those who could wait, are waiting. I am sure there are people who bought cars they didn't need, but that has always been the case and the shortage didn't bring about more of those people.

 

[Mctaff]

If your finances are tight you’re going to default on your car loan before your house mortgage

 

[Nova]

If your finances are tight you’re going to default on your car loan before your house mortgage

Maybe in some situations. People can't live without a car. They can always rent. And the home foreclosure process takes a much longer time than a car repossession.

 

[CarGuy07]

Someone said this has been going on for a while, they are absolutely right. Over the last 3-5 years, car loan amounts have gone up a lot! People stretching to buy cars they can’t really afford. Lots of loans are in danger of default: student loans, car loans, homes, etc.

 

[Magicman]

How would you get upside down on a pcp? It's called guaranteed future value for a reason. Surely that's a problem for dealers and manufacturers not the consumer

 

[Nova]

Car repossessions are on the rise in warning sign for the economy

After auto repossessions tumbled during the pandemic, they are now approaching their pre-pandemic levels with industry analysts worried the trend will continue.

www.nbcnews.com

This article shows that the overall problem is quite mild in the US. Cox Automotive, the largest analyst of the automotive industry, predicts that defaults will remain below historic norms through 2025. Ally bank, which holds a lot of loans in the most stressful segment of consumers, expects defaults to be 3.8 percent vs 3.1 percent in 2019.

This is not a big issue for the US.

 

[lion shf]

For record, I think the earth is roundish….

Wut?

 

[~el~jefe~]

Emira's in the new current market would be obliterated depreciation wise.

911's will be 50% of what there were a year ago, or less.

 

[Magicman]

Emira's in the new current market would be obliterated depreciation wise.

911's will be 50% of what there were a year ago, or less.

Brilliant, sits back and waits for his 45k 991 GT3

 

[lion shf]

Emira's in the new current market would be obliterated depreciation wise.

911's will be 50% of what there were a year ago, or less.

Can you predict a 991T with rear steering falling to $70K?