American car buyers are borrowing like never before—and missing plenty of payments, too (1.2T$ debt now)

[super_etecoon]

VGPolyglot said:

super_etecoon said:
Ego is a demanding master. I've seen too many young adults saddle themselves with unneccesary debt just for that new car smell. Plenty of inexpensive, well maintained 5-7 year old vehicles available at used car lots that would be just fine. For some reason they get excited about having a "new car" and think it somehow puts them in a new class.

Did you see my post above?

Not sure which of your posts above relates to my post.

People don't need NEW cars.  And just because a bank is willing to loan money to someone doesn't mean you should take that money.  This economy continues to fleece our youth into life changing financial situations.  It's a sad state of affairs.