You have the dumbest population at any point in history.
They weren't taught anything other than to go to work, pay taxes, consume product, and to not resort to violence while they get screwed over by politicians, bankers, and corporations.
I actually agree with the WEF - the world is overpopulated, but it's overpopulated with stupid people.
People like us are outnumbered by probably 1mil to 1.
As a result, we can't vote our way out of this. And the reality is that we're going to have to "get rid of" the dumb people so that something like this doesn't happen for at least a long time in the future.
It's a die roll, but the best bet is to buy a 10 year old car for 4-5k cash, no financing, from one of those mid-level non-dealer shops. Usually it's some auction car, where they fixed the transmission or something, why the last owner sold it. But you have no loan, and can drive it without putting full coverage insurance on it.
Gone are the days of 0% $399 down, five year car loans. Higher interest rates.
I have to cars myself, a 2001 gonna drive forever Honda and a 2012 Toyota. The first I got at a used car dealer for cheap at the height of the pandemic stimmie give away. People didn't want to buy small sedans, they were buying fancier cars.
The second I did go to a dealer, and got one of the certified preowned ones. 10% interest. Oh, it hurts. But it's nice for once in my life to have a car that isn't leaking oil or some other fluid.
That's fascinating. I've been driving my old truck for 25 years and I despise all the newer vehicles with their sensors and proximity alarms and electric steering that jerks you all over the road when it loses track of the lane lines. 1995 - 2005 is the peak of automotive reliability, features, and value. I'll never buy new again.
Cars depreciate based on how much they are driven while the amount outstanding debt is reduced by payments over time. The former can outpace the latter.
Lenders were allowing people to roll negative equity into the next loan, compounding the problem
Are you talking about trading in a car when the loan isn't paid off and just getting the outstanding amount added into a new car loan? How does that make things worse? By letting people assume too much debt?
...they have gaps in coverage.
Are you talking about damage that the owner pays for out of pocket contributing to their inability to afford another car or get their fixed?
The auto dealers are underwater on their inventory because they were using revolving lines of credit to get vehicles on the lot during the car buying boom.
I mean, what can you say?
You have the dumbest population at any point in history.
They weren't taught anything other than to go to work, pay taxes, consume product, and to not resort to violence while they get screwed over by politicians, bankers, and corporations.
I actually agree with the WEF - the world is overpopulated, but it's overpopulated with stupid people.
People like us are outnumbered by probably 1mil to 1.
As a result, we can't vote our way out of this. And the reality is that we're going to have to "get rid of" the dumb people so that something like this doesn't happen for at least a long time in the future.
It's a die roll, but the best bet is to buy a 10 year old car for 4-5k cash, no financing, from one of those mid-level non-dealer shops. Usually it's some auction car, where they fixed the transmission or something, why the last owner sold it. But you have no loan, and can drive it without putting full coverage insurance on it.
Gone are the days of 0% $399 down, five year car loans. Higher interest rates.
I have to cars myself, a 2001 gonna drive forever Honda and a 2012 Toyota. The first I got at a used car dealer for cheap at the height of the pandemic stimmie give away. People didn't want to buy small sedans, they were buying fancier cars.
The second I did go to a dealer, and got one of the certified preowned ones. 10% interest. Oh, it hurts. But it's nice for once in my life to have a car that isn't leaking oil or some other fluid.
That's fascinating. I've been driving my old truck for 25 years and I despise all the newer vehicles with their sensors and proximity alarms and electric steering that jerks you all over the road when it loses track of the lane lines. 1995 - 2005 is the peak of automotive reliability, features, and value. I'll never buy new again.
Oh noooo not my heckin crediterino
I wonder if it related to The Great Taking.
https://www.youtube.com/watch?v=dk3AVceraTI
David Webb's thing on how they're changing the uniform commercial code and all these obscure legal movements to take possession of EVERYTHING.
roger that
yikes
Cars depreciate based on how much they are driven while the amount outstanding debt is reduced by payments over time. The former can outpace the latter.
Are you talking about trading in a car when the loan isn't paid off and just getting the outstanding amount added into a new car loan? How does that make things worse? By letting people assume too much debt?
Are you talking about damage that the owner pays for out of pocket contributing to their inability to afford another car or get their fixed?
I don't understand this one.