@cnbcmakeit: Car loans are getting longer in the U.S., and buyers are staying in debt longer. ⠀ Part of the reason is that cars have gotten much more expensive, but some buyers are also trading in their cars before they’ve finished paying them off and rolling that debt into their next loan. Today, nearly 1 in 4 buyers trading in a car worth less than what they still owe are underwater by $10,000 or more, according to a research by Edmunds. ⠀ Read more on what’s causing the “permanent car debt” trap at the link in bio. #car #cars
So many people are in consumers pockets. Cell, subscriptions, coffee and public image spend has tapped into our wallets. This was not the case in 1986 if we are comparing 40 years ago.
2026-10-03 17:31:02
1
Maresa Perr :
Cars are fucking $70,0000
2026-10-03 04:20:19
48
NinjaDeathstarBoomerangBomb :
But they said automation and technology would make cars cheaper...
2026-10-03 15:07:33
2
Chelsita_33 :
Inflation is out of control.
2026-10-02 23:05:40
48
roadhome0 :
We need to cap are loans at 4-5 years.
2026-10-03 15:48:55
1
Puddlejumper :
Forget avocado toast, new cars are the number one wealth destroyer.
2026-10-03 12:41:20
11
ranterist :
Car purchases have become more about lifestyle with the features and their costs.
2026-10-02 22:00:13
13
Nicki :
Because if it’s 4 years the payment is 2k a month. Plus insurance. Plus $100 at the pump every week.
2026-10-03 15:01:16
0
juststate :
You’ve got to buy a reasonable model, put some money down, finance for 36 months, pay it off and stay in it as long as you can.
2026-10-02 22:37:38
12
LI-Kick :
Wow. 47k
2026-10-03 14:32:34
0
Merlinandbinx :
You used to be able to get a car for what it costs to go to a concert today
2026-10-03 11:20:21
8
bert :
It’s about greed
2026-10-03 00:36:42
10
Melanie :
I just paid of my 2021 Hyundai. 60 months, 0% interest. I will drive it until is disintegrates.
2026-10-03 11:04:22
1
AT :
Bring back home economics classes asap
2026-10-03 00:09:15
5
philbuildthefuture :
Getting a loan just for a car is crazy
2026-10-03 00:24:30
5
user8324133934253 :
Called it in 2020 when everyone was unemployed and buying cars
2026-10-02 22:24:26
4
boblow34 :
Cars also last longer. I remember when they would hit 60k miles it was time to get a new one.
2026-10-02 22:49:03
2
hiiii12345678906 :
Interest rates are way different now
2026-10-03 06:55:14
1
pmailbox26 :
Car more expensive bc these predatory loans create the demand.
2026-10-03 03:38:34
2
GuyThatLikesStuff™️ :
We need Chinese cars in America. Some actual competition! auto makers and auto insurance companies have gotten away with price gauging for too long.
2026-10-03 00:10:11
2
Absit_Invidia_RN :
but cars are still 3yr/36k miles on the warranty. companies are saying you'll be paying on something that likely won't last till you're done paying on it. manufacturers need to do better
2026-10-02 23:10:50
2
tdavi1124 :
people need to adjust to being ok with buying older cars, not ideal but that's a reality
2026-10-03 00:18:01
1
bowtie4x4 :
Stop listing sedans for 40k then
2026-10-03 00:54:13
1
Right after the BS :
Corporate greed
2026-10-02 21:14:05
1
Wes :
Inflation, interest rates, greed, covid, dealer markups, cars with no reliability I mean take your pick there’s so many problems in the car market
2026-10-03 02:09:28
1
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