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      05-01-2019, 01:28 PM   #1
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As Auto Lending Delinquencies Rise, Discrimination Is Even More Dangerous To The Econ

Americans presently owe $1.3 trillion in auto loan debt, the equivalent of 5.5% of GDP. Auto loan originations totaled $584 billion in 2018, the highest year in the 19-year history of the data for auto loan originations, in nominal terms, and an increase from 2017's $567 billion.

https://www.forbes.com/sites/mayraro...o-the-economy/
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      05-01-2019, 03:13 PM   #2
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Originally Posted by Chelsea_Tractor View Post
Americans presently owe $1.3 trillion in auto loan debt, the equivalent of 5.5% of GDP. Auto loan originations totaled $584 billion in 2018, the highest year in the 19-year history of the data for auto loan originations, in nominal terms, and an increase from 2017's $567 billion.

https://www.forbes.com/sites/mayraro...o-the-economy/
Not surprised. I'm blown away by the number of 20~somethings on this forum driving M3s and M4s. $800 to $1000 a month car payments while living at home or with a bunch of roommates in a shitty apartment. Strange priorities these days.

Artificially low interest rates have helped. If we see auto loan rates creep up, I think we will see things settle back.
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      05-02-2019, 08:00 AM   #3
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Originally Posted by DETRoadster View Post
Not surprised. I'm blown away by the number of 20~somethings on this forum driving M3s and M4s. $800 to $1000 a month car payments while living at home or with a bunch of roommates in a shitty apartment. Strange priorities these days.

Artificially low interest rates have helped. If we see auto loan rates creep up, I think we will see things settle back.
All the while I'm over here at age 44 having never owned a new car, myself. The wife, sure. Me? Nope.
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      05-02-2019, 08:10 AM   #4
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Originally Posted by hooligan_COLD View Post
All the while I'm over here at age 44 having never owned a new car, myself. The wife, sure. Me? Nope.
I got my first new car at 30 and it was a GMC. Didn't get my first BMW until I was almost 40.

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Originally Posted by DETRoadster View Post
Not surprised. I'm blown away by the number of 20~somethings on this forum driving M3s and M4s. $800 to $1000 a month car payments while living at home or with a bunch of roommates in a shitty apartment. Strange priorities these days.

.
I think in a lot of cases, mommy and daddy buy them whatever they want. Not saying everyone, there are those that work for what they have and yes, priorities are different today.

Very very few of my friends growing up had the privilege of parents that bought them brand new vehicles. Today it's almost viewed as a right.
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      05-02-2019, 08:20 AM   #5
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All the while I'm over here at age 44 having never owned a new car, myself. The wife, sure. Me? Nope.
I'm 44 as well and really struggled to mentally get my head around buying my M2; the bottom basement of all the M cars. it was 2X more than I've ever paid for any car and all the while (and still sometimes) I kept thinking "this is a bad investment, I could be putting this $ into our retirement fund. What would $60k look like in 30 years. Dumb move man, dumb move." I think it's why I like motorcycles so much. I can have as much fun (if not more) as I can with a car, scratch my itch to turn wrenches, and keep the investment 10X under that of a car.


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Originally Posted by cmyx6go View Post
I think in a lot of cases, mommy and daddy buy them whatever they want. Not saying everyone, there are those that work for what they have and yes, priorities are different today.

Very very few of my friends growing up had the privilege of parents that bought them brand new vehicles. Today it's almost viewed as a right.
Very very true. I had exactly 1 friend growing up whose parents bought him a new car. The rest of us had old beater sh*tboxes. Lets see, thinking back to highschool in the early 90s we had between me and my friends: Datsun 200SX (my car), Dodge Aspen, Ford Granada, New 5.0 Vanilla Ice style Mustang (the rich kid), Mitsubishi Sapporo, Ford LTD wagon, 66 Mustang, VW bug, Cadillac Fleetwood, 1970s`ish Chevy pickup. Quite the hidge-podge of beaters. I hear parents today talk about needing to buy their kids cars with ABS, airbags, etc. I dont totally disgree with the safety aspects but you can get that from a newer Corolla. No need to stick Jr. in an M4.
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      05-02-2019, 08:25 AM   #6
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I'm 44 as well and really struggled to mentally get my head around buying my M2; the bottom basement of all the M cars. .
This means war.
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      05-02-2019, 08:26 AM   #7
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Originally Posted by DETRoadster View Post
I'm 44 as well and really struggled to mentally get my head around buying my M2; the bottom basement of all the M cars. it was 2X more than I've ever paid for any car and all the while (and still sometimes) I kept thinking "this is a bad investment, I could be putting this $ into our retirement fund. What would $60k look like in 30 years. Dumb move man, dumb move." I think it's why I like motorcycles so much. I can have as much fun (if not more) as I can with a car, scratch my itch to turn wrenches, and keep the investment 10X under that of a car...
I'm going to need you to write a letter to my wife.....


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      05-02-2019, 08:44 AM   #8
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Originally Posted by DETRoadster View Post

Very very true. I had exactly 1 friend growing up whose parents bought him a new car. The rest of us had old beater sh*tboxes. Lets see, thinking back to highschool in the early 90s we had between me and my friends: Datsun 200SX (my car), Dodge Aspen, Ford Granada, New 5.0 Vanilla Ice style Mustang (the rich kid), Mitsubishi Sapporo, Ford LTD wagon, 66 Mustang, VW bug, Cadillac Fleetwood, 1970s`ish Chevy pickup. Quite the hidge-podge of beaters. I hear parents today talk about needing to buy their kids cars with ABS, airbags, etc. I dont totally disgree with the safety aspects but you can get that from a newer Corolla. No need to stick Jr. in an M4.
I got my first car in 1980 - a 1973 Ford Ltd - it was YELLOW. It didn't even have a side view mirror on the passenger side. It wasn't required yet. But it got me where I needed to go.
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      05-02-2019, 08:45 AM   #9
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Originally Posted by hooligan_COLD View Post
I'm going to need you to write a letter to my wife.....


Funny, I bought my wife the M2 as a bribe to get rid of her GSXR as I felt it was too dangerous.

Well worth the investment.
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      05-02-2019, 08:47 AM   #10
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Originally Posted by cmyx6go View Post
I got my first car in 1980 - a 1973 Ford Ltd - it was YELLOW. It didn't even have a side view mirror on the passenger side. It wasn't required yet. But it got me where I needed to go.
My first ride was a Ford Tempo.

Boy was that a learning experience...
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      05-02-2019, 08:47 AM   #11
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My first car was a 1979 Subaru GL hatchback. It was two tone - rust and bondo. That thing was so under powered, I had to downshift to second and move into the breakdown lane to get over the bridge across the inter-coastal to get to my high school. But.... I was 16 and I had a car........


I have never owned a new car and have only ever financed one - and this was back in 1999.

The desire for 'right now' and the 'bigger better deal' is strong in today's society. It will be the downfall of many - both fiscally and emotionally.
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      05-02-2019, 08:53 AM   #12
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Funny, I bought my wife the M2 as a bribe to get rid of her GSXR as I felt it was too dangerous.

Well worth the investment.
No worries on that front, the wifey got rid of her Buell XB12 a decade ago.

I'm trying to convince her that me getting a Thruxton R won't kill me.
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      05-02-2019, 09:00 AM   #13
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No worries on that front, the wifey got rid of her Buell XB12 a decade ago.

I'm trying to convince her that me getting a Thruxton R won't kill me.
Beautiful bike and it most likely won't kill you.

The 20yr old in the M4 on the other hand...
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      05-02-2019, 09:12 AM   #14
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This means war.
Oh come on, you know it's true. We don't even have "M" mirrors or a "special" M engine. We are the red headed step children of the M community...and I wouldn't have it any other way!

Quote:
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I'm going to need you to write a letter to my wife.....


Can do! There's folks on this forum that spend more on watches than I do on bikes. They are the best bang for the buck on the road, by far.

Quote:
Originally Posted by cmyx6go View Post
I got my first car in 1980 - a 1973 Ford Ltd - it was YELLOW. It didn't even have a side view mirror on the passenger side. It wasn't required yet. But it got me where I needed to go.
Awesome! We had an LTD in the garage right there around 1980. I lost my grip on a fresh blackberry pie when my dad hit the brakes hard. What a mess. Blackberry pie on tan interior = no bueno.
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      05-02-2019, 09:12 AM   #15
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49 and want to have enough money to retire in 2-3 years (don't know if I want to retire just want the option) so new cars or expensive cars don't match with my wife and my goals.
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      05-02-2019, 09:15 AM   #16
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Originally Posted by hooligan_COLD View Post
No worries on that front, the wifey got rid of her Buell XB12 a decade ago.

I'm trying to convince her that me getting a Thruxton R won't kill me.
I was painfully close to trading the Guzzi in on a Thruxton R. The Guzzi and old age won out. Even though I'm tall and lanky, that stretch to get to the dropped bars across that massively long Thruxton tank was too much. Back was screaming "What are you doing to me!?" after about 5 minutes on the test ride. Really heavy bike too. I want one in the livingroom to stare at but riding one? Maybe 20 years ago before back, neck, wrist, and elbow injuries.
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      05-02-2019, 09:15 AM   #17
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Originally Posted by .2pdk View Post
Beautiful bike and it most likely won't kill you.

The 20yr old in the M4 on the other hand...
This is precisely her concern. Not me doing something stupid on the bike, someone else doing something stupid or inattentive in a car while I'm on the bike. In a car, it just costs time and money in nearly every scenario. On a bike, the cost can be far greater.
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      05-02-2019, 09:17 AM   #18
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Originally Posted by hooligan_COLD View Post
This is precisely her concern. Not me doing something stupid on the bike, someone else doing something stupid or inattentive in a car while I'm on the bike. In a car, it just costs time and money in nearly every scenario. On a bike, the cost can be far greater.
This is why I sold my CBR 600RR, too many fools out there doing stupid things.

And then there is everyone else...
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      05-02-2019, 09:18 AM   #19
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All the while I'm over here at age 44 having never owned a new car, myself. The wife, sure. Me? Nope.
42 here and I've only bought ONE. It was a 2005 Pontiac GTO, bought it in late 2007 as it had been sitting on the lot for over two years unsold. Red, six speed with the wonderful LS2, and I got it for $20,999. I think the original MSRP was $32k.

That was the only new car deal I ever thought was worth it, everything else I buy 2-3 (or hell older!) years old.
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      05-02-2019, 09:21 AM   #20
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Originally Posted by DETRoadster View Post
Oh come on, you know it's true. We don't even have "M" mirrors or a "special" M engine. We are the red headed step children of the M community...and I wouldn't have it any other way!
My 1M was the best M car ever.

The M2 LCI is a close second.

M mirrors and "S" designation come with spun crank hub and oil cooler syndrome.

Next...
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      05-02-2019, 09:38 AM   #21
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Quote:
Originally Posted by .2pdk View Post
My 1M was the best M car ever.

The M2 LCI is a close second.

M mirrors and "S" designation come with spun crank hub and oil cooler syndrome.

Next...
I still kick myself to this day for not buying a 1M off the lot. I just couldn't bring myself to spend the $. Bought a 370Z instead. As soon as the M2 was announced I started saving and told myself I would not repeat the same mistake of missing out on the 1M. Both the 1M and the M2 are fantastic little cars and bring me right back to my first automotive love: My 1972 Datsun 510. It's that magic combo of lightweight, RWD sedan, that I love so much.
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      05-02-2019, 09:46 AM   #22
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Both the 1M and the M2 are fantastic little cars and bring me right back to my first automotive love: My 1972 Datsun 510. It's that magic combo of lightweight, RWD sedan, that I love so much.
Lightweight?

Now I've lost all respect for you...
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