JUST IN: US auto loans have exploded to $1.68 TRILLION.
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JUST IN: US auto loans have exploded to $1.68 TRILLION. For the first time in history, car debt is bigger than credit card debt.
It now matches the total amount of U.S. student loans.
People are taking 7-10 year car loans just to afford a monthly payment.
The average American now pays $735/month just to own a car. That’s $88,200 over 10 years. On something that LOSES value every single day.
Meanwhile....
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JUST IN: US auto loans have exploded to $1.68 TRILLION. For the first time in history, car debt is bigger than credit card debt.
It now matches the total amount of U.S. student loans.
People are taking 7-10 year car loans just to afford a monthly payment.
The average American now pays $735/month just to own a car. That’s $88,200 over 10 years. On something that LOSES value every single day.
Meanwhile....
Car prices are up 35%+ since 2020 and repossession rates hit a 30-year high last year.
Let that sink in.
The "American Dream" is being sold back to you on high-interest debt.
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Car prices are up 35%+ since 2020 and repossession rates hit a 30-year high last year.
Let that sink in.
The "American Dream" is being sold back to you on high-interest debt.
@FluentInFinance And here I thought my €250 payment for 60 months was a lot.
$88k?? For a car??
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JUST IN: US auto loans have exploded to $1.68 TRILLION. For the first time in history, car debt is bigger than credit card debt.
It now matches the total amount of U.S. student loans.
People are taking 7-10 year car loans just to afford a monthly payment.
The average American now pays $735/month just to own a car. That’s $88,200 over 10 years. On something that LOSES value every single day.
Meanwhile....
@FluentInFinance Most of the time if your Uber or Lyft driver has a fancy vehicle, they are doing that job specifically to pay for the vehicle.
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JUST IN: US auto loans have exploded to $1.68 TRILLION. For the first time in history, car debt is bigger than credit card debt.
It now matches the total amount of U.S. student loans.
People are taking 7-10 year car loans just to afford a monthly payment.
The average American now pays $735/month just to own a car. That’s $88,200 over 10 years. On something that LOSES value every single day.
Meanwhile....
And Trump's tariffs will make cars in the US even more expensive.
https://www.cnbc.com/2026/05/06/car-payments-squeeze-americans.html
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@FluentInFinance And here I thought my €250 payment for 60 months was a lot.
$88k?? For a car??
@collectifission @FluentInFinance
Including interest I guess.
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@collectifission @FluentInFinance
Including interest I guess.
@helioselene @FluentInFinance Obviously, but still.
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@helioselene @FluentInFinance Obviously, but still.
@collectifission @helioselene @FluentInFinance
Maybe also counting gas and insurance? -
R relay@relay.infosec.exchange shared this topic
