Monday, October 06, 2014

EBT Cards for CAR BUYERS?

It can't be too far off for the Free Shit Army to take their rightful place at the closing desk at your local dealership.   They will no doubt be buying wheels with your money if you pay taxes.  After all, isn't equality what America is all about.   If you need a phone just let the government supply you with one.  Cars should be next.

Here are some interesting statistics.

  • The total balance of auto loans outstanding in August is $924.2 billion, an all-time high and an increase of 10.8% from same time a year ago
  • The total number of auto loans outstanding stands at more than 65 million, a record high and an increase of more than 6% from the same time last year;
  • The total number of new loans originated year-to-date through June for subprime borrowers, defined as consumers with Equifax Risk Scores of 640 or lower, is 3.9 million, representing 31.2% of all auto loans originated this year.
  • Similarly, the total balance of newly originated subprime auto loans is $70.7 billion, an eight-year high and representing 27.8% of the total balance of new auto loans

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