Record number of defaults on auto loans

[DarkShadowFox]

Originally Posted by suprf1y

It's not just the current generation, they're learning it from their parents and grandparents.

I know people my age with $100k or more on their line of credit, little to no savings, driving new financed trucks and think they're going to retire in a few years.

Not a clue.

why though.

[suprf1y]

Originally Posted by DarkShadowFox

why though.

That looks like a question, though I'm not sure if it is, and if it is, what is it questioning?

[DarkShadowFox]

Originally Posted by suprf1y

That looks like a question, though I'm not sure if it is, and if it is, what is it questioning?

why would you spend money you dont have? isnt that the basic rules of economics.

[tmontague]

Originally Posted by DarkShadowFox

why would you spend money you dont have? isnt that the basic rules of economics.

In simple terms as it applies to individuals, yes.

Refer to your post (#3)...

[DarkShadowFox]

Originally Posted by tmontague

In simple terms as it applies to individuals, yes.

Refer to your post (#3)...

still will build/ buy a GRMN because its a middle finger to toyota for not making one, hope it pisses them off that in need to mod there crummy hatchback to make it better. good luck getting it back from me .

[suprf1y]

Originally Posted by tmontague

In simple terms as it applies to individuals, yes.

How so?

[DarkShadowFox]

Originally Posted by suprf1y

How so?

the rule of economics is dont borrow more then you can afford on a depreciating asset regardless if you can afford it now, can you afford if it you lose your job tomorrow? become injured? die?

[tmontague]

Originally Posted by suprf1y

How so?

In business ventures often times money needs to be spent that in order to make money and you run at a loss for the first while.

For individual banking generally not living outside your means is a good choice for sustainable living. This is especially important when buying a depreciating asset like a car