Record number of defaults on auto loans

[IllusionX]

I'm in a situation right now where I need a bigger vehicle (35-45k) for the growing family, which I can't afford.

I'm a year or so to finish paying for my 2010 Mazda 5, and I also spent a fuckton on repairs.

It's a huge debate for me now to get another used car vs spending more on a new car.

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[suprf1y]

Originally Posted by IllusionX

I'm in a situation right now where I need a bigger vehicle

Need or want?

[IllusionX]

Originally Posted by suprf1y

Need or want?

Got 3 kids. Needs bigger.

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[tmontague]

Originally Posted by IllusionX

I'm in a situation right now where I need a bigger vehicle (35-45k) for the growing family, which I can't afford.

I'm a year or so to finish paying for my 2010 Mazda 5, and I also spent a fuckton on repairs.

It's a huge debate for me now to get another used car vs spending more on a new car.

Sent from my CLT-L04 using Tapatalk

Go used, let the original owner be a sucker and take the loss of it being driven off the lot. Find a used Toyota Sienna and learn as much as you can about them and their potential albeit small issues. You will have a reliable family move for a while.

[myfirstyota]

Originally Posted by tmontague

Go used, let the original owner be a sucker and take the loss of it being driven off the lot. Find a used Toyota Sienna and learn as much as you can about them and their potential albeit small issues. You will have a reliable family move for a while.

+1. I couldn't ever seeing myself buying a vehicle off the lot. Well, maybe with lottery winnings.

A few years ago my mom bought a mini. 3500km on it. Hadn't seen it's first oil change. Called another dealer and asked for the history. Came back clean. Someone bought it, didnt like it and traded it in. She saved $13000 off the out-the-door purchase price.

[IllusionX]

Originally Posted by tmontague

Go used, let the original owner be a sucker and take the loss of it being driven off the lot. Find a used Toyota Sienna and learn as much as you can about them and their potential albeit small issues. You will have a reliable family move for a while.

Yeah, I've been looking at used cars as well to get an idea what to expect. I wish to be able to find some almost new car and save 10k. But so far what fits out budget are mostly 5-6 years old. We have to live with what we have until the last car is paid off first, so it's not going to be another year or so..

What I really like is a Kia Sorento right now. We'll see down the road what comes up.

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[suprf1y]

Who?

[KALISPEL II]

All the signs are there.

- Crazy Auto loan bubble.
- Crazy College loan bubble.
- Middle-class pretty much extinct as a single-income household.
- Consumer-driven-economy full of mostly lower-income, debt-ridden consumers.
- Cost of living becoming untenable for most Americans - most especially those in 'single-income households', and/or with children.
- Deficits as a country beginning to reaching the point of no return.

It's like watching a balloon fill with air & waiting for that bursting point. A tiny tiny segment of the population is getting richer & richer in a rigged/corrupted system, while everyone else sinks or barely stays afloat. That never tends to end well, from a historical perspective.

[antiquantum]

Thanks for the information.