/biz/ - Business & Finance

>>18644999
>car loans/lease
markets already dead
they just been too busy to count the bodies
and bailing out this entire shitfest maybe a brrr to far, even by current standards

>>18644999
aren't car loans in some CLO products? or im i retarded and that's just corporate debt.

>>18644999
What are the stats are car purchases and financing? Every car I've ever bought I've just paid in full. It's not like housing where it's basically impossible for 99% of people to pay outright.
What fraction of people get a car loan?
What fraction buy used vs new?
What does the average person spend on a car?

>>18644999

Quick story. I went with my friend to a Toyota dealership in city dies not matter. He found the car he wants and we went to buy it.

My friend works part time in fast food. When he entered income the finance person looked at it shocked and said “we sell cars here, with this income you cannot buy a TV” but he went along with the process by upping the numbers and entering zero expenses. Loan approved.

His loan was six years and the payments would be almost half of his monthly income.

Luckily he got into a crash with a semi, the insurance paid off his loan and he bought a used Prius.

Imagine paying a car loan for six years!

>>18645190
This isn't something that I've research in-depth, it's something I smell.

>why am I seeing so many brand new F150s and SIlverados covered in Oakland Raiders stickers?

>>18644999
first this and next up private residential loans

>>18645293
Sure, but I'd want to see the stats as well. Although it's no secret that modern dealerships make the majority of their profits off financing, and the product itself is becoming more and more an afterthought.

Personally I will just never understand why people bother buying new when you can get something just as good with a couple dozen thousand miles on it

Why couldn't Fords new entry level truck have come out this year instead of next.. maybe I coulda got a good deal...

>>18645267
Tfw got 0% loan on a brand new car. purposely paying it across 6 years because it's a car I'll keep at least 10 and doesn't have interest

>>18644999
What made the mortgage bubble so catastrophic was the leverage on CDO's

>>18645344
Absolutely agree some stats would be nice. Also yeah a used corolla is gonna last a lifetime lol

car companies don't make too much of a profit margin, the ones hurt would be the finance companies

>>18645190
Car loans are so cheap, why wouldn't you pay the interest on it? Don't you understand that there is an opportunity cost for the money you spend? Pay the interest for the loan, and invest your money into something with a higher rate of return.

>>18645440
fuck off, shlomo

>>18645366
what truck/country?
ranger came out last year, they're making an even smaller version?

The AAR reported an 81% drop in autorack carloads in the month of March.

Do with that information what you will.

>>18645484

Sorry 84%
https://www.aar.org/news/weekly-rail-traffic-for-the-week-ending-april-4-2020/

>>18645379
what brand?

>>18645379
Same here. I bought using 0% at the longest terms I could get, hoping for big inflation. Zero interest for 72 months is pretty ridiculous. Usually in indicator an auto manufacturer is trying to offload overproduced cars. The same as paying cash, but better.

>.t /biz/o/ogyst

Another thing I want to know: How many cars are base models vs. fully loaded soccermom tanks?

>>18645602
I couldn’t believe mine either. Free money. Thx guiz.

>>18645602
what are the insurance requirements for this

>>18645732
Collision. The lender wants their money in case if a crash.

>>18645470
Yeah some $20k model because the ranger is too expensive

>>18645403
post the uncensored version pls sir

>>18646103

The new ranger is just a shitty F150. Small pickups died with CAFE standards and they will never come back.

>>18645440
because (((cars))) are a depreciating asset???
stupid boomer

>2025
>running out of Trumpcoins
>crash my car head first into a brick wall
>ford pays me $7000 to take a brand new mustang off the lot
>$1000 up front with $500 a month for 12 months
>get paid $70 to fill tank
>mfw

>>18645679
over 70 grand for that thing no thanks

>>18645440

God you're retarded. The financing cost is built into the car sticker price. You pay 0% but the sticker price is 40% over the actual value of the car.

Anyone who buys a new car is a fucking brainlet.

the problem is that used cars are almost as much as new ones these days

>>18645267
Nothing wrong with paying off a car for 6 years. A good vehicle can last 20+ years.

As long as you get a good interest rate, and don't overpay for the vehicle.

I bought a '16 Corolla from a private seller and financed it through BoA for 2.84% for 7 years. I can use the money for other purposes...

>>18645484
>not getting your new car flown in

>>18646758
buying used cars is risky though. who the fuck knows who you're buying it from and whether the car is a lemon.

>>18646787
The problem with that is that at any point you could get completely fucked. Now sure, you can make sure to take good care of your car and theoretically it can last you 20 years. But alternatively, you never know when some blind chink is going to veer right into you and fuck your shit up. Of course, a totaled car gets an insurance payout, but this is never ever ACTUALLY enough to make you whole. You still end up most likely needing to sink however many extra Gs when getting a replacement.

>>18646840
Buying new cars is risky too. Brand new cars generally have new designs untested in the real world. Lots of lemons out there, new and old.

You trust the dealership salesman when they say a new car is reliable? I'll take the used car with a 50k mile record of reliable operation over an untested new product.

>>18646840
Whenever I've bought a car, I've always taken it to a friend of mine who owns a mechanic shop so they can look it over. That and there are just basic things you can look out for, and of course the lower the mileage the better, and it's also safer if you know the background of the car. For example, if you know it's a fleet car for some corporation.

>>18645440

What a fucling retard, thinks he can min-max so will that taking unnecessary debt won't affect him - retard.

>>18646892
>but this is never ever ACTUALLY enough to make you whole

Not true. My dumbass sister has wrecked 2 cars at this point and both times she got more than she originally bought the car for.

>>18646892
I can afford to buy the car for cash, no loans. I took the loan because I can earn >2.84% on my money.

>>18646951
By that logic all debt is unnecessary.