America's Debt Debacle: Why are so many consumers behind on their auto loans?

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Why are so many consumers behind on their auto loans?

Source: Loan Digest (loandigest.net)

 

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Cars like the one in your thumbnail.....that’s why!👍🏼

The rent is too damn high and the pay is too damn low. Raisethewage FightFor15

because wages have not gone up in decades to allow execs to take more home in profits you imbeciles

Getting nervous about that bubble yet? Having some of that sub-prime mortgage deja vu?

Because billionaires have stolen everyone’s wealth now for decades.

Hey don't worry about that! Look at that stock market! The state of the Union is strong. Trump said so.

Wage theft, that's why.

It's almost like the economy is designed to put people into debt that they cannot pay back.

Because the economy is great!

Because 'consumers' don't have the purchasing power to even keep up with the minimum payments on their loans for the vehicles they need to get to their jobs that underpay them

Because it’s a recession still. Don’t be obtuse.

No different from the real estate bubble. Auto manufacturers have so much inventory, they’re offering incentives to bury everyone in debt as Powell raises interest rates. Rapid growth eh.

When at least two media begin to spread this kind of information, the population might be frightened and this will speed up the next financial crisis and market crash. Is this what we want?

Bold prediction: Poor financial decision-making

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America's Debt Debacle: Why are so many consumers behind on their auto loans?More than 7 million car owners are more than 90 days overdue with payments, higher than during the economic crisis a decade ago. Yes, this was trending over a year ago - it'll only get worse until YOU STOP LENDING MONEY TO PEOPLE WHO CANNOT AFFORD IT. Perhaps a photo of an $80,000 Lincoln Navigator was not the best choice to accompany this article? Is this the next bubble to best.
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