Auto loan delinquencies hit a 13-year high

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That’s your state of the union.

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Interesting. I haven’t had an auto loan in over 30 years and haven’t had a credit card in almost 20 years now. At some point in life I realized if I couldn’t pay cash for it, I didn’t need it. :thinking: :wink: Except for my house… :shushing_face: :grin:

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Nice! It gets even better when one includes their houses. :grin:

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Working on it Larry, but it won’t be this year…unless I win the lottery. :money_mouth_face: :rofl:

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I’ll be rootin’ for ya, Tom. In fact, if you win the lottery, I’ll split it with ya! :+1: :face_with_peeking_eye: :face_with_spiral_eyes:

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Me too. And I built my house without a loan. Took me 5 years, but I did it.

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I hate to keep sounding like a broken record, but greedy lenders are as much to blame as the irresponsible borrowers.

Bad loans are made in good times. During the free-money covid era, specialized subprime dealer/lenders loosened their credit standards and got very aggressive and very greedy. At the same time, used-vehicle prices surged. And the risks piled up.

https://wolfstreet.com/2024/02/06/auto-loan-balances-subprime-delinquencies-and-income-who-are-those-drunken-sailors/

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In large part because of government. When I was young, we had local banks that knew me, lent their own money to me, and held the mortgage themselves.

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Or, as I like to call it, becoming vested in my retirement plan.

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