leasing cars
designed to keep the poor poor
"There is no question former President Trump bears moral responsibility. His supporters stormed the Capitol because of the unhinged falsehoods he shouted into the world’s largest megaphone," McConnell wrote. "His behavior during and after the chaos was also unconscionable, from attacking Vice President Mike Pence during the riot to praising the criminals after it ended."
auto loans is not a concern yet. I think our next bubble will be credit card or student loan debt. Too many people are defaulting. Personally one of the saddest sights for me is a person paying minimum payment every month when their balance is so high that almost all of it gets eaten by interest.
Personally I think we should remove the social stigma on bankrupcy. It is a law and it should be used. Poor peoplehave to see that you wont be condemend by half the population forever if you take a bankrupcy at some point in your life like Trump did. At some point bankrupcy and getting out of the vicious cycle of paying minimum payment every month and then getting more credit card debt with other cards has to end.
but going bankrupt is part of the contract. When credit card companies loan you money they charge you interest. One of the factors of that is the likelyhood that you will not be able to pay back.
I dont feel sorry for them because they are having a hard time. I feel sorry for them because we already have a legal way to get out of it, that the bank has already factored in, and they dont take it. Usually because they are too ashamed or afraid too.
"When credit card companies loan you money they charge you interest." That's not 100% accurate.
The problem with bankruptcy is that when people do it, others that aren't as irresponsible as they are by not paying back loan are affected. How many young people, when they buy their first home, have to pay PMI because others defaulted on their loans. Those that have no problem being responsible and doing what they agree to do have to do something that costs them more because of what some irresponsible person didn't do.
They should be ashamed to do it. It shows irresponsibility on the part of the person doing it by refusing to pay back what they said they'd pack back.
again credit card companies factor that in. It is factored into the amount of interest they charge you. If you are a higher risk then your interest is higher. Credit card companies already make money every time you use the card on the merchants end (they get a portion every swipe) and they make money of your interest. When you enter into a contract with the credit card companies both sides know that you going into bankrupcy is a potential outcome. It is in the law. You should not be ashamed to use any legal actions to your benefit.
You can insist that the law doesnt exist or not be used but then you would be like the liberals who scream popular vote when the law says electoral college.
Car loan rates were very low for a number of years. There's never been a better time to borrow (in recent history). It's not surprising consumers decided to finance. Having the use of an asset before you could be able to pay for it is worth the interest cost in my opinion. I don't get the point of hand wringing over this. Can anyone explain what the problem is or why the subject merits a thread?
There is no problem. There's nothing wrong with the concept of credit. Without it, the auto industry (for one) would crash. Credit keeps the economy moving. When you have a credit rating over 800, you get great rates on all loans in a matter of minutes.
I've got clear title on two properties, and a truck. I owe a pittance on a $30k+ car, only because I roll them over every 3 years or so.
Now...credit should not be granted to everyone, but that doesn't mean that the concept is flawed.
Once in a while you get shown the light, in the strangest of places if you look at it right.
Bill (05-21-2017)
Put blame where it belongs
ATF decided it could not regulate bump stocks during the Obama administration.
It that time," the NRA wrote in a statement. "The NRA believes that devices designed to allow semiautomatic rifles to function like fully-automatic rifles should be subject to additional regulations."
The ATF and Obama admin. ignored the NRA recommendations.
"There is no question former President Trump bears moral responsibility. His supporters stormed the Capitol because of the unhinged falsehoods he shouted into the world’s largest megaphone," McConnell wrote. "His behavior during and after the chaos was also unconscionable, from attacking Vice President Mike Pence during the riot to praising the criminals after it ended."
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