Economics

33% of Americans who financed their cars now owe more on their loans than the vehicle is worth! 📉📉📉

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Awesome stat, there’s a tik tok dude that buys cars that specialises in these situations - post covid shortage in cars // buying behaviour coming back to bite 

100 $degen
30 $hunt
10 $00
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10 $build
5 $fomo
5 🎭

@tipothehat 🔥🚀🎩

Is that atypical? I know for us, the car was listed about 21k, total cost of loan was about 30k, and right after buying it was probably worth several k less than 21. So even after over a year of payments I'm underwater and that's just the normal car loan process.

wow, has something like this happened before?