Cars - For Car Enthusiasts

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Millennials And Gen Z Can’t Afford Their Auto Loans, And It’s Only Getting Worse (jalopnik.com)

submitted 1 year ago by danhasnolife to c/cars

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On average, AutoNews reports that 3.58 percent of 18 to 29-year-olds and 2.62 percent of 30- to 39-year-olds have been late on their auto loans by at least 90 days. For some context, just 2.13 percent of all borrowers are late. Keep in mind, these numbers are overall. In the first quarter of 2023, 4.55 percent of 18- to 29-year-olds were at least 90 days late. 3.66 percent of 30- to 39-year-olds were equally late. We haven’t seen numbers like these since The Great Recession.

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[–] [email protected] 6 points 1 year ago* (last edited 1 year ago) (1 children)

I'm not saying everyone should move to the city, nor am I saying that we should get rid of all the cars. I'm saying the way we build our cities needs to change. We can't afford not to.

I live in a rural area; we could still have better public transit and less sprawl to help those who shouldn't own a car for financial reasons.