return2ozma@lemmy.world to News@lemmy.world · edit-210 hours agoMore Than 1 in 5 New Car Buyers in the U.S. Are Taking Out Loans of 84 Months or Longerwww.roadandtrack.comexternal-linkmessage-square73fedilinkarrow-up1120arrow-down12
arrow-up1118arrow-down1external-linkMore Than 1 in 5 New Car Buyers in the U.S. Are Taking Out Loans of 84 Months or Longerwww.roadandtrack.comreturn2ozma@lemmy.world to News@lemmy.world · edit-210 hours agomessage-square73fedilink
minus-squaremaplesaga@lemmy.worldlinkfedilinkarrow-up7arrow-down1·5 hours agoMortgages used to be 7 years, and car loans were unheard of on the gold standard. Cheap debt changed all this, and we chalked up the economic growth as a positive thing.
minus-squarekalpol@lemmy.calinkfedilinkarrow-up3·3 hours agoThere’s a balance to be struck. Interest rates used to be 15 or more percent, that’s no good. Free or almost free debt is also no good.
Vehicle loans are the antichrist
Mortgages used to be 7 years, and car loans were unheard of on the gold standard. Cheap debt changed all this, and we chalked up the economic growth as a positive thing.
There’s a balance to be struck. Interest rates used to be 15 or more percent, that’s no good. Free or almost free debt is also no good.