More jobs: Repo men needed
 

A record 7 million Americans are listed as 90 days
or more behind on their car loan payments.

Not a good sign, and more evidence that trickle down doesn't trickle.
As if we needed evidence :rolleyes:

http://fortune.com/2019/02/12/americ...-car-payments/

"Trickle down" is nonsense, a straw-man argument invented by those on the left that don't understand economics. The term is usually attributed to Reagan, but he correctly denied using the term or advocating the policy that the left accused him of.

The bottom line is a philosophy whereby tax breaks for corporations
and the highest tier of individual earners will have a positive effect
on those earning less. Call it what you like - it doesn't work.

I have an idea on how to eliminate this problem.

Let's allow uneducated people with limited job skills to flow across the border at will, and employers can exploit these unskilled workers at low wages. Their US co workers, who should be paid more for their efforts, will have to take take pay cuts or see their wages flatten over the course of say, oh,, thirty years or so.

Oh wait, that just makes this problem worse. Not better.

OMG dim logic at work again -total numbers of car loans is highest number EVER, so percentagewise not as bad when they were giving away 0bamacar loans...

https://libertystreeteconomics.newyo...high-gear.html

That is a description of the straw-man called trickle-down. Who on the right ever said that it would work?

I spent an hour in a large Dodge dealer Saturday talking business.

They have moved to 80% sub prime loans. They are the number one dealer in the area now.

18% car loans being written all day long.

I wonder why so many people are behind in their loans?

Just remember, AOC is the poster child for the Left economics. She said that the reason that the unemployment rate was so low was because so many people had to work 2 jobs. :pound:

Part time jobs are not counted as being employed in the government data. If you have two part time jobs, statistically you are unemployed.

I’d hope this dealer goes broke.
But I’ll bet he’s not carrying the paper.

Last week I went to a used car dealer in Victoria Tx. with my son.

We found a car that we were interested in, but the only price on the car was $1,000 down.

My son told the salesman that he wanted to pay cash for the car, if the price was right.

The dealer refused to sell the car for cash or give us a price.
He just kept insisting that my son accept one of the great finance deals that the dealership was offering.

Needless to say, we left without making a deal.

I have been told that dealers are leasing cars without running credit checks or income verification. Could this be the next financial crisis that hits the US.

What could go wrong with this?sarc:D

A going away present when people head home to stay south of the border? A have worked with some that had a 3-5 year cash grab plan before going home.

Chrysler financial Corp.