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Late car loan payments hit record

https://www.linkedin.com/news/story/late-car-loan-payments-hit-record-5528729/


Late car loan payments hit record
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By Rob Sacks, Editor at LinkedIn News
Updated 2 hours ago


Millions of Americans are having trouble paying their car loans, in a potential sign of trouble for consumer spending. The percentage of loans that are at least 60 days late rose to 6.11% in September, the highest on record, according to Fitch Ratings. Driving the problem: higher borrowing costs, more expensive cars and the resumption of student loan payments. Borrowers struggling to keep up also face the risk of having their cars repossessed. Average monthly payments for new and used vehicles are $770 and $592, respectively, according to Cox Automotive.

Google auto repo auctions in your state. You may need a dealers license to attend, but you can get one fairly easily: https://www.bryantsuretybonds.com/blog/ohio-dealer-license

I knew a couple of guys that had licenses just to buy and resale years ago. They never had a lot or official dealership. And I know some collectors get licensed for auctions.

I also think dealers can take limited guests, but not sure if that is still a thing.

I've been waiting to see what the impact of student loan repayment coming back into the fray will be, and how it will ripple.

This is where trillion dollar tax cuts, billions in pandemic bailouts and the great grift gets you. Then drown that in inflationary corporate greed and badabing badaboom, You are here. Yep, teetering on economic doom and gloom for the working class while the upper class and elite gain even more wealth. But your side will blame Biden and my side Trump, while it’s truly a combination of everything since Reagan.

Well just raise the minimum wage to 30 bucks an hour. Problem solved.

Either a police auction or just wait for one to pop up at a dealership on auto trader or whatever car site you like using.

Hell yea. Get them Hellcats repoed so I can get one on the cheap!