Automotive repossessions reportedly jumped last year to the highest level in 15 years. The last time car repossessions were at this level was in 2009, when the country was dealing with the fallout from the previous year's financial crisis, the report added. As Bloomberg notes, these numbers are another sign that Americans are having trouble staying on top of their monthly bills due to steep interest rates and higher car prices. The number of subprime borrowers who were at least 60 days late on their loans climbed to 6.56% in January, the most on record, Bloomberg added, citing Fitch Ratings. Meanwhile, purchasing a car has become more costly, with Cox data showing that the average vehicle loan rate rose by five basis points to 10.16% in February, the highest in four months, with the average monthly car payment coming to $748.
BUT THOSE EGG PRICES THOUGH
never never never never never never..........borrow money to buy a car.
#4 | Posted by eberly
Kinda tough when about 30% of families have no net worth outside of their homes (www.financialsamurai.com) and the average cost of even a used car is $25K (www.kbb.com).
Drudge Retort Headlines
SCOTUS Gives Trump a Win on Birthright Citizenship, More (133 comments)
Feds Cut Satellite Data Crucial to Tracking Hurricanes (26 comments)
SCOTUS Upholds S.C. Ban on Planned Parenthood Funds (24 comments)
Andrew Cuomo Staying on NYC Ballot for Mayor (24 comments)
Trump Terminates Trade Talks with Canada (16 comments)
AI Could Become Conscious -- What If They Hate Their Lives? (14 comments)
Pete Hegseth to Fox Reporter: 'You've Been the Worst!' (13 comments)
Is DOGE Doomed to Fail? Some Experts Are Ready to Call It (13 comments)
Trump's Economy Is Coming Into Focus; It's Not Looking Good (12 comments)
Stagflation Threatens to Hit the US. as It Did 50 Years Ago (12 comments)