Stormin’ Moorman
Well-Known Member
- Thread starter
- #1
Prime (over 600) and Sub-Prime (less than 600) car repossessions have doubled recently and that's a bad omen. Making it worse is Loan-to-value ratios, or the amount financed relative to the value of the vehicle, are around 140%, versus a more normal 80%; and many of the loans were extended to buyers who had temporary pops in income during the pandemic. Thanks gov't!
With the Fed expected to bump interest rates a full percent this quarter, this is going to get much, much worse.
The good news is if you're a cash buyer you're going to see some good deals in 2023 on new and slightly used Jeeps.
https://www.carscoops.com/2022/07/r...re-exploding-and-thats-bad-news-for-everyone/
With the Fed expected to bump interest rates a full percent this quarter, this is going to get much, much worse.
The good news is if you're a cash buyer you're going to see some good deals in 2023 on new and slightly used Jeeps.
https://www.carscoops.com/2022/07/r...re-exploding-and-thats-bad-news-for-everyone/
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