Lenders Have Learned Nothing Since The Crash - 6 Million Auto Loans Are Now 90 Days Overdue

Lenders Have Learned Nothing Since The Crash - 6 Million Auto Loans Are Now 90 Days Overdue
Roughly six million auto borrowers with shoddy credit scores are at least 90 days late on making their loan payments, according to new figures released by the New York Federal Reserve. The percentage of delinquent subprime auto loans has raced to the highest level since 2010.


Since the end of the Great Recession, there's been an explosion of auto loans, growing to more than $1.1 trillion. That, along with a far stronger economy, has helped fuel a boom in U.S. auto sales.

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mre30mre30 - 12/6/2016 4:08:45 PM
0 Boost
President Donald is going to have a heckuva time with all these little hidden economic land mines left by Obama and co.

He'll have a 6 month honeymoon period and then he will have quite a mess to cleanup - probably starting in the summer. There will be no money for the 'wall'.


TomMTomM - 12/6/2016 5:13:29 PM
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There won't be a Honeymoon period - the Senate is not filibuster proof - and things like the "wall"


TomMTomM - 12/6/2016 5:14:28 PM
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Continuing from above

THings like the wall - will simply never reach a vote.


MDarringerMDarringer - 12/6/2016 9:53:43 PM
+1 Boost
@TomM as usual...stupidly off topic.

Opportunistic lending is ultimately the fault of lenders.


PUGPROUDPUGPROUD - 12/6/2016 10:06:47 PM
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Under Obama you are too big to fail and are bailed out. Under Trump you will be shown the door to bankruptcy court as a message to others to get their act together or you will be next.


HenryNHenryN - 12/7/2016 1:17:22 AM
+2 Boost
Sure Trump will teach you how to get rich from bankruptcies - how many times has he done it ?



nguyenvuminhnguyenvuminh - 12/7/2016 12:42:44 AM
+2 Boost
Too big to fail and are bailed out under Obama ... I thought it was George Bush who directed that in early 2008 and signed by Bush into law in Fall of 2008. Hmmmmmm I guess I'll defer to professor of history PUGPROUD


MDarringerMDarringer - 12/7/2016 8:04:22 AM
-2 Boost
Because with Obama you get a magic rainbow unicorn and "hope" and "change".You know, the intangible BS that moonbats fall for.


HenryNHenryN - 12/7/2016 10:47:13 AM
+3 Boost
With Trump, you'll get the garbage after the swamp is drained.

On top of that garbage, you'll get the Conman-In-Chief, a self-flaunting billionaire who got rich through multiple bankruptcies, and who declared that the US should "re-negotiate" national debts with China.

Compare to that kind of record from your Conman-In-Chief, defaulting on car loan is nothing at all.


HenryNHenryN - 12/7/2016 10:27:20 AM
+2 Boost
Fearless Leader Trump brings you your old jobs back: car repo.

Job requirements:
- White men, low IQ, no skills ("sanitation engineer" and car "business manager" are well qualified)
- Fluent in profanity and name calling
- "Strong character" desired: bullying, not afraid to run when facing determined individual or difficult circumstances
- Social skills: association with meth heads/Aryan brothers and 2nd amendment AK47 gun toting militia a plus




nguyenvuminhnguyenvuminh - 12/7/2016 12:37:22 PM
+2 Boost
No BobM, I wasn't talking about the auto bailout, I was talking the bank bailout that you guys were discussing. I get the impression you just use the computer keyboard to type and not to look up information. It's free you know. Which president took the budget surplus from Clinton years into the red under his 2 terms? It's that same president who presided over the 2 terms (that's 8 years in case you don't know what that means) that led us to the banking crisis. It's that same president who directed the bank bail out proposal, and it's that same president who signed the bank bailout into law.


Terry989Terry989 - 12/7/2016 3:35:26 PM
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Batshit Bob - - - I see what you did there. Continuing with your grade school cut/paste/thoughtless moonbeam ideas while completely ignoring the fact that George Bush, jr, the Texas Turd, led us into the greatest depression in decades. Looks like that chin strap on your tinfoil had is choking off all reasonable thought.


nguyenvuminhnguyenvuminh - 12/7/2016 5:30:27 PM
+2 Boost
BobM, you are truly dumber than a doorknob. This thread alluded to the current auto loan debt and how it resembles the mortgage debt the defined the Great Recession of 2008. The Great Recession was built up during George Bush Jr terms. The Internet Bubble you're blabbering about above happened in 2001, before Bush, before Obama, during Greenspan years. If you want to call that Clinton doing, I'm fine with that because history is OK with that. But that Internet Bubble didn't crash the ECONOMY, it crashed Wall St firms and investors in internet stocks while the rest of the economy continued on.


Terry989Terry989 - 12/8/2016 4:21:58 PM
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Batshit Bob - Still trying to rewrite history?

It's well known that George Bush, the Texas Turd, was one of worst presidents in the history of our county:
http://www.huffingtonpost.com/mw-jacobs/george-w-bushs-competitio_1_b_8701100.html

He lied to congress in order to start a war to benefit his oil and military cronies. The recession was kicked into full gear with the RepubTards now having to pay for senseless war (one that has now cost us $818 Billion) all while giving tax money back to the wealthy ($1.3 Trillion tax cut bill singed by Bush).


nguyenvuminhnguyenvuminh - 12/8/2016 9:40:11 AM
+1 Boost
NO it didn't crash the Economy you stupid f.. Did housing crash, was there 8% unemployment, look it up.
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