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-up1119arrow-down12
arrow-up1117arrow-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.
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.