Auto loan repo CRISIS

[TheAngryBrownsFan]

I don't feel bad, 90% of drivers should be driving sedans not $75, 000 trucks or $50, 000 SUVs

[Dfgbuiiyyyybb]

If you’re underwater in your car loan, and your car is still running, you don’t NEED a new car.

[rbarr]

When I started seeing ads for 84-month loans (and not for commercial vehicles!), you knew without a doubt that people were over-extending themselves.

[mikelp]

If you’re way upside down, the only good option is to just keep the car and pay the loan off as scheduled. You’ll crawl out of the hole eventually.

[Littleboyblew]

If youre $10-25k in thw red, DONT BUY ANOTHER VEHICLE!

[TheCrazedave]

Sad thing, I bought a 2016 Lincoln MKZ 2 years ago for $23k. Values then were about that. Now, I still owe almost $19k and the car is worth about 6k. Ugh

[tomglpn]

Called this two years ago. Can't wait to pick me up a good repo!!!!

[sjnix]

This is the exact reason I put $32k down on a $50k. My payment is only $380.

[coldinwisconsin]

Wise Words: DON'T buy new, and DO NOT EVER buy a GMC. That is all.

[DMS]

Best way to not default on a car Ioan NO MATTER WHAT is to buy it with cash. I have had a car note since 2010. My cars belong to ME.

[DMS]

Haha. I haven’t had a car payment in 16 years. Enjoy it! lol. Keeping up with the Joneses sucks in the end!

[brianm.]

Always have gap insurance. Speaking of which, I can forsee people using gap as a means to get out. 20k upside down on the loan? Acquire gap, total vehicle, pay off loan and start over. I can imagine gap insurance is about to get very pricey in the future if people get desperate enough to start pulling something like this.

[wshandiman]

Just remember if you are having or about to have payment issues..talk to your bank..they don't want your vehicle any worse than you want to lose it..if you have been up to date on payments for a while ask for a deferral..they will work with you if you just talk to them

[davidfaustino]

Holy shit by all means everyone keep living ghetto fabulously. I look forward to buying your home from you at a significantly discounted price.

[josephbeavers]

Covid Free money caught up. Time to live within means....ijs

[nelsonleon]

I paid 26k for a 2021 palisade with 45k miles, I did a lot of research and it took me like 3 months but I feel good with the deal.

[thenewjs]

Just paid off my 72 month loan in 34 months. I putt off other purchases to make it happen. Besides my house, I don’t like to keep debt!

[matthewbarrios]

Strange...I have a 2019 Buick Enclave Avenir AWD and I am only $2k upside down. How is that Acadia that much upside down? Must be terrible interest rate or something. I also either round up my payments to the next 100 dollar point if it is just a few over, or pay $100 more a month to bring the principle down which lowers the ACTUAL APR.

[tgenesis]

If I had too purchase a vehicle a few years back. You know what I would've did brought me trap until I seen cars prices coming like they are now!

[jbirdlockdownd]

I agree with everything but the last part, we want them to stop paying, let the government fix it, cash for clunkers 2