Auto Loan Delinquencies Kickstarts Repo Crisis

Millions of Americans grapple with the unexpected challenge of managing their car payments, with far-reaching implications for the economy, job market, and lending standards. Rising new car costs and delinquent payments are at the core. Many consider returning their cars as loans surpass their vehicles' values. We reflect on the 2008 financial crisis when car prices were considerably lower. Now, the auto loan crisis is peaking, prompting major automakers like GM, Ford, and Tesla to cut prices.This crisis extends to the student loan dilemma, with borrowers facing challenges and the looming threat of Social Security garnishment. To navigate this financial turmoil, individuals have three options: increase income, return the car, or cut expenses. As this situation ripples through the economy, it impacts job markets, real estate, and lending standards. It's vital for everyone to proactively manage their finances in these challenging times.Grab a copy of my book: https://partsmanagerpro.gumroad.com/l/qtqax"The Parts Manager Guide" - https://www.amazon.com/Parts-Manager-Guide-Strategies-Maximize-ebook/dp/B09S23HQ1P/ref=sr_1_4?crid=3UZYOGZJUNJ9K&keywords=parts+manager+guide&qid=1644443157&sprefix=parts+manager+guid%2Caps%2C244&sr=8-4 Please remember to like, share and leave your comments. Videos are uploaded weekly.Visit my website for more! https://www.partsmanagerprof.com/For audio listeners you can find the full podcast here: https://www.spreaker.com/user/14576208/auto-loan-delinquencies-kickstarts-repoIf you want me to continue making videos like these, please donate to our paypal account: paypal.me/partsmanagerproFair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. No copyright infringement intended. ALL RIGHTS BELONG TO THEIR RESPECTIVE OWNERS* This video is for educational and entertainment purposes only.Become a supporter of this podcast: https://www.spreaker.com/podcast/the-motor-files-podcast--4960744/support.