It’s kind of crazy that people think spending $50,000 on a car is okay now. When I was a kid $30,000 was getting a bit fancy. Now that was 15 years ago but damn. I spent 20k on a newish car that I intend on keeping for 20 years. I still feel weird about it considering I probably could have bought a 2012 honda fit and done the same.
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Americans now owe more than a trillion dollars in credit card debt – the first time the national credit card bill has crossed the trillion-dollar mark since 2008. Credit cards are now the third category of consumer lending to top a trillion dollars, after car loans and student debt.
More Americans in the middle are putting. This has contributed to a frightening level of student debt, now a crisis at.
Americans’ collective credit card debt just topped $1 trillion, its highest level since the country’s last recession in 2008, according to new Federal Reserve data. Technically, we owe $1.0004 trillion on our credit cards, but who’s counting an extra $400 million or so? That’s chump change, man.
"Students who borrow too much end up delaying life-cycle events such as buying a car. Americans have "become increasingly able to pay off their credit cards and mortgages. But the student loan debt.
The total active loan amount across all lenders for 2017 was $1.129 trillion. Statistics reveal that people prefer the comfort of banks when borrowing for a car. In 2017, banks reported an astonishing $368 billion in open car loans – that’s equal to the price tag of about 4.9 million Model S Teslas!
Americans Now Owe $1 Trillion in Car Loans. Balances on auto loans grew 11 percent year-over-year, or $101 billion, in the third quarter, according to report this week from TransUnion, a credit reporting company. The total for auto loans is now $1.008 trillion. Nearly 75 million consumers have an open car loan account, 5 million more than the same period last year.
Americans Owe A Record $1.1 Trillion In Car Loans. While subprime lending might’ve dropped a smidgen, loans with terms that last 85-96 months have increased, up from 1.25 percent to 0.95 percent a year earlier. In the used market, 73-84 month loans jumped to 17.7 percent, up from 16.1 percent a year ago, according to Automotive News.
ABBY LEE MILLER: Former Dance Moms’ star Abby Lee Miller sentenced to prison for bankruptcy fraud May 9 (UPI) –Reality star Abby Lee Miller is headed to prison for bankruptcy fraud. Miller’s prison stint will be followed by two years of supervised release, federal judge Joy Flowers Conti ruled in.