New report states 29% of vehicles being traded in are under water

[dishstaller]

It states the average amount they are under water is OVER $7,000.

Personally, I tend to be the type that drives a vehicle for a lot of years....do my own oil changes and other fluid changes. Just replaced the spark plugs and a couple coils. Youtube is great for things like this.

Nearly 3 In 10 New-Car Trade-Ins Are Underwater, Edmunds Finds<!-- --> | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

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[Juan]

I guess America can't afford 10 year autoloans

 

[harshness]

I guess America can't afford 10 year autoloans

I'm pretty sure the most you can get is seven.

What America can't afford is the payments on $80,000+ pickups and SUVs and $40,000+ crossovers.

 

[dishstaller]

I'm pretty sure the most you can get is seven.

Believe it or not, 8 yrs...96 mon is starting to become common.

What I can't believe is the interest rates they are charging now. I've got a high credit score and when recently at a Ford dealership I inquired about what the rates were for new vehicles and he said 6.9%. Yikes.