To add to what you said, it’s not only the cost of autos that is higher (and that includes payments adjusted for interest rates) but also car repairs are far more expensive. Often loans on used cars, and even new cars extend beyond the warranty and when things break and it’s going to be $11K to fix it, people just stop making payments and let them take the piece of shit back.
To add to what you said, it’s not only the cost of autos that is higher (and that includes payments adjusted for interest rates) but also car repairs are far more expensive. Often loans on used cars, and even new cars extend beyond the warranty and when things break and it’s going to be $11K to fix it, people just stop making payments and let them take the piece of shit back.