QOTD: Are You Worried About Auto Loans?

Tim Healey
by Tim Healey

qotd are you worried about auto loans

We reported on auto-loan delinquencies yesterday since they're at a record high, though subprime loans are the biggest cause for concern.

Still, the high level of delinquency isn't exactly a great sign for the industry or the overall economy.

On the other hand, we learned during The Great Recession that car loans going delinquent isn't nearly as scary as when housing loans aren't paid.

So what do you think of this news? Reason to worry, or just something to shrug off as a temporary blip since car prices are so high and might someday drop to a more affordable level?

Sound off below.

[Image: Konoplytska/Shutterstock.com]

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6 of 64 comments
  • Kwik_Shift Kwik_Shift on Jun 22, 2023

    I hear that students hoping to have their student loans paid off by Resident Biden, will have to start paying those back in the fall. Hopefully they didn't take out a car loan before establishing a career based on their studies.

    • EBFlex EBFlex on Jun 22, 2023

      "Resident Biden"

      Gets me every time :)

  • Funky D Funky D on Jun 22, 2023

    Not at least in the short term. I have no credit card debt (pay that in full every month), refinanced my mortgage in 21 before the rates went up (and it is less than rent on houses 1/2 the size of mine), and only have a small truck loan that I can pay off tomorrow if necessary.

    The worry I have is that Brandon and his hoarde will want responsible people like me to subsidize the stupid decisions of those who are in over their head in car debt.

    • Sgeffe Sgeffe on Jun 22, 2023

      ^ All this! Paid the 2019 Accord off last year, paid the condo off the year before. Debt ain't your friend, Mr. Ramsey!

  • MaintenanceCosts MaintenanceCosts on Jun 22, 2023

    I've got four cars and one car loan, which is a 0% loan so it would be dumb to pay it off. It will mature in early 2025. We may buy another car before then, but if we don't it'll be nice to have no payments.

  • RHD RHD on Jun 25, 2023

    Auto loans - not my circus, not my monkey.

    I have too many cars (and a truck) already, and have never financed a vehicle. The banks getting out of the business are just making space for those that want to get in. The best way to finance is through a credit union. BofA and WF can go the way of Sears, Woolworth and Montgomery Ward for all I care.