Record number of defaults on auto loans

[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