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Once again making it to easy for people to purchase something they can't afford is once again setting you for for failure. What I am seeing is this because I'm on the ground fighting to help people with credit is the high price of autos.
Let us not forget the 2008 housing crash, easy money sent us down the tubes by banks offering easy lending and thousands took advantage of it. I still have client that are still dealing with the repercussions today between bankruptcy's because of it and auto repossessions.
The cost of a new auto has increased so much that lenders are extending payments out to 8 and some to 10 years. This might very well be the new CRASH. Auto dealers are pushing sales anyway they can get them and people are falling for it to drive the car they always dreamed of but not thinking of the consequences.
Most people only drive a car for 3-4 years and most of the time the car starts giving you problem by that time so, you trade it in and will upside down, oh but they don't tell you that. By the time you you pay interest on your car you have paid for it most likely 2 times over, just think about a interest paid for 6 years or more. STOP and think about what your doing before you sign on the dotted line, how bad do you want it. Read the information below, let's be smart and learn.