Americans are drowning in auto loan delinquencies; report says Congress needs to fix it

[Weird Tolkienish Figure]

https://www.usatoday.com/story/money/2025/09/10/auto-loan-delinquencies-debt-report/85998815007/

Ready for some good ol' bailouts?

[bigheadfred]

Not surprising. I saw a vid of a guy showing the price of a new Escalade. $185,000.00. 

[Weird Tolkienish Figure]

Not surprising. I saw a vid of a guy showing the price of a new Escalade. $185,000.00. 

  Roger that!

[The_Reader_David]

I'm not sure what by what "reasoning" the report concludes Congress needs to fix this.  It sounds like there should be plenty of jobs for people willing to work as repo men, and lots of cheap deals on repossessed vehicles soon to be had.

[Wingnut]

Some people should just ride the bus and let fiscally responsible finance cars. 

[Kamaji]

I'm not sure what by what "reasoning" the report concludes Congress needs to fix this.  It sounds like there should be plenty of jobs for people willing to work as repo men, and lots of cheap deals on repossessed vehicles soon to be had.

Exactly.  There is nothing for Congress to do.

[Smokin Joe]

Some people should just ride the bus and let fiscally responsible finance cars.

How about cars without all those bells and whistles?
You want to stay in your lane?
Drive between the lines.
Learn to check your tire pressure. It isn't hard.
Learn to drive in snow and on slick surfaces (without AWD or traction control).
Learn to shift gears and use a clutch.
Learn to pay attention and do your own braking (and I have disabled the ABS on all my vehicles because I can do better--in North Dakota, on ice).
There are so many gadgets on vehicles nowadays (and all are points of failure) that it is no wonder that an Escalade with a TV for every back seat and all that stuff costs as much as it does.
Basic transportation (the real purpose of a vehicle) should be available for a lot less.

[Hoodat]

Some people should just ride the bus and let fiscally responsible finance cars.

That's crazy talk.

[Smokin Joe]

Congress should not be screwing around with people's delinquent loans.

Granted, beaters are more expensive than they were, but brand new vehicles generally suck as an investment.

They lose a chunk of their value with the first few miles as they become 'used' cars.

A good used car will have some repairs in its future, but most of a vehicle's longevity is a combination of being serviced regularly (oil/filter changes) and driven reasonably.

That said, rental car outfits roll over their fleets regularly, at about the three year mark. Those tend to be well maintained, inside and out.

Estate auctions used to be a good place to go, as the 'kids' already have vehicles that suit them, and grandma/grandpa's old boat is often garaged, and well serviced. Avoid ones which show signs of neglect, or belonged to hard drinkers/druggies, as they are often neglected.

If you have the means to track a vehicle's history, that might be worthwhile, too.

[DefiantMassRINO]

Stop making car loans to deadbeats.

No more bailouts without perp walks.  #PerpsForBailouts

I need the Government to bail me out from a life-time of following the rules and working for a living.

[DB]

Government is directly responsible for cars becoming much more expensive.

They endlessly mandate this and/or that which they require in order to sell cars in the US.

They did "cash for junkers" depleting the supply of cheap cars and parts.

They tried to shut down ICE powered cars causing major disruptions to the supply chain.

They tried to force production of electric powered cars which are not ready for prime time and therefore much more expensive for less performance.

And we are living the result of all that.

[Smokin Joe]

Government is directly responsible for cars becoming much more expensive.

They endlessly mandate this and/or that which they require in order to sell cars in the US.

They did "cash for junkers" depleting the supply of cheap cars and parts.

They tried to shut down ICE powered cars causing major disruptions to the supply chain.

They tried to force production of electric powered cars which are not ready for prime time and therefore much more expensive for less performance.

And we are living the result of all that.

Nothing there I disagree with. 

[Bigun]

Government is directly responsible for cars becoming much more expensive.

They endlessly mandate this and/or that which they require in order to sell cars in the US.

They did "cash for junkers" depleting the supply of cheap cars and parts.

They tried to shut down ICE powered cars causing major disruptions to the supply chain.

They tried to force production of electric powered cars which are not ready for prime time and therefore much more expensive for less performance.

And we are living the result of all that.

Bottom line: Government is out of control! All levels.

[DCPatriot]

Bottom line: Government is out of control! All levels.

It's also impossible to work on your own vehicle today...yet prohibitively expensive to have repaired by trusted mechanics.

[Smokin Joe]

It's also impossible to work on your own vehicle today...yet prohibitively expensive to have repaired by trusted mechanics.

Which is why I drive 20th century vehicles...

[Bigun]

It's also impossible to work on your own vehicle today...yet prohibitively expensive to have repaired by trusted mechanics.

Funny you should mention that. Less than a week ago I had my 17-year-old truck in the shop for some minor repairs. The shop owner is a longtime friend and when I went in to pick the truck up, I mentioned that in the past I would have done all that stuff myself but can't now because they have made it impossible for me to work on anything. He walked me out into the shop and pointed to a machine he had just paid $20,000 for and said "that will be obsolete before I can get it paid for."  The point being not only can we not work on them, independent businessmen are being forced out as well.

[DCPatriot]

Funny you should mention that. Less than a week ago I had my 17-year-old truck in the shop for some minor repairs. The shop owner is a longtime friend and when I went in to pick the truck up, I mentioned that in the past I would have done all that stuff myself but can't now because they have made it impossible for me to work on anything. He walked me out into the shop and pointed to a machine he had just paid $20,000 for and said "that will be obsolete before I can get it paid for."  The point being not only can we not work on them, independent businessmen are being forced out as well.

Sitting here, laughing...thinking about all the 1950's American cars dominating the streets of Havana, Cuba in the movies while the same models are piled high in junkyards here.

[Fishrrman]

Last car (in fact, the only car) I took a loan to buy was in the late 1970's, when I got hired on the railroad and bought a new Honda Accord to replace my 16-year-old Volkswagen Campmobile.

I paid that loan off pretty early, too.

Since then, when I wore out one car (happens fast in the railroad life, driving to many distant terminals), the new one to replace it was paid with cash.

I did that right up through the last one (Toyota RAV), bought back in January 2015 (Used, Toyota-certified, paid $24k). Only had 7,400 on it when I got it, now it's up to 55k. I'm kinda thinking this might just become my last vehicle of them all...

[DB]

Funny you should mention that. Less than a week ago I had my 17-year-old truck in the shop for some minor repairs. The shop owner is a longtime friend and when I went in to pick the truck up, I mentioned that in the past I would have done all that stuff myself but can't now because they have made it impossible for me to work on anything. He walked me out into the shop and pointed to a machine he had just paid $20,000 for and said "that will be obsolete before I can get it paid for."  The point being not only can we not work on them, independent businessmen are being forced out as well.

That isn't unique to cars. Technology across the board has become very complex where primary assemblies can't really be repaired by anyone without very specialized tools that tend to be very expensive. When things are made by machine, it often takes a machine to fix it.

[Bigun]

That isn't unique to cars. Technology across the board has become very complex where primary assemblies can't really be repaired by anyone without very specialized tools that tend to be very expensive. When things are made by machine, it often takes a machine to fix it.

Tell me about it! I remember when there were radio and TV shops all over. Try to find one now.

[DefiantMassRINO]

2008 Honda Accord don't fail me now.

[Smokin Joe]

2008 Honda Accord don't fail me now.

With proper servicing (oil changes, transmission filter & fluid) and reasonable maintenance, you can generally expect between 200,000 and 300,000 miles out of one of those.

[mountaineer]

Congress does not exist to fix my own bad decisions. Can't afford a $100,000 car? Don't buy one.

[Smokin Joe]

Congress does not exist to fix my own bad decisions. Can't afford a $100,000 car? Don't buy one.

Precisely!

[DCPatriot]

With proper servicing (oil changes, transmission filter & fluid) and reasonable maintenance, you can generally expect between 200,000 and 300,000 miles out of one of those.

Just passed 234K the other day on a 2016 VW Passat TSI.

{{{knock wood}}}

[DB]

Just passed 234K the other day on a 2016 VW Passat TSI.

{{{knock wood}}}

Knock gently... You are definitely in the shit suddenly happens zone...

[DCPatriot]

Knock gently... You are definitely in the shit suddenly happens zone...

Tell me about it... "Check Engine" light has been on for 2 years.   

[mountaineer]

Which is why I drive 20th century vehicles...

I own one of these. Looks like I should hang onto it! 

[LMAO]

It's also impossible to work on your own vehicle today...yet prohibitively expensive to have repaired by trusted mechanics.

Yup

My first car was a1973 Camaro and I could fix just about anything when it came to it

My 2015 Chevy Traverse?? Forget it

[LMAO]

Tell me about it... "Check Engine" light has been on for 2 years.   

Ha!!
Every vehicle I've owned in the last 30 years had that "check engine" light glaring back at me for the life of the vehicle

[Weird Tolkienish Figure]

You can buy an OBD2 reader for pretty cheap these days...

[DCPatriot]

Ha!!
Every vehicle I've owned in the last 30 years had that "check engine" light glaring back at me for the life of the vehicle

BAAHHH!  "Check Engine" light is nothing compared to the "Tire Deflation Alert"

Right???

For me, because I'm so feeble, I probably couldn't get the bleeping lug nuts loose to change a tire on the road.      

[DB]

BAAHHH!  "Check Engine" light is nothing compared to the "Tire Deflation Alert"

Right???

For me, because I'm so feeble, I probably couldn't get the bleeping lug nuts loose to change a tire on the road.      

Ya, the batteries die in the pressure sensors typically between 6 and 10 years... Then the light is permanently on... And those little buggers are expensive, if you have a spare tire that needs one too.

Regarding lugs nuts and such, AAA...

[Smokin Joe]

I own one of these. Looks like I should hang onto it! 

I would! Aside from the '41, all else is '75 or later.

[Smokin Joe]

Ya, the batteries die in the pressure sensors typically between 6 and 10 years... Then the light is permanently on... And those little buggers are expensive, if you have a spare tire that needs one too.

Regarding lugs nuts and such, AAA...

DeWalt : impact wrench and appropriate socket(s), and a torque wrench. (But I carry a floor jack, too.)

[Smokin Joe]

You can buy an OBD2 reader for pretty cheap these days...

Yep!

[DB]

DeWalt : impact wrench and appropriate socket(s), and a torque wrench. (But I carry a floor jack, too.)

I carry a AAA card... So far it has served me well... LOL...

[Smokin Joe]

I carry a AAA card... So far it has served me well... LOL...

Not worth squat here. No local service, and you can freeze to death by the time they get to you.

[DB]

Something that came as a shock to me after moving to Arizona was that car batteries typically only last a couple of years here. They work, and then they suddenly don't, wherever you happen to be at the time. In California, they lasted about 5 years, almost like clockwork.

AAA will replace the battery without the needing to tow it which is pretty nice.

[DB]

Not worth squat here. No local service, and you can freeze to death by the time they get to you.

I'm grateful to not have to deal with those problems.

[IsailedawayfromFR]

HELL NO


why should we bail out banks??

[Kamaji]

Government is directly responsible for cars becoming much more expensive.

They endlessly mandate this and/or that which they require in order to sell cars in the US.

They did "cash for junkers" depleting the supply of cheap cars and parts.

They tried to shut down ICE powered cars causing major disruptions to the supply chain.

They tried to force production of electric powered cars which are not ready for prime time and therefore much more expensive for less performance.

And we are living the result of all that.

[roamer_1]

Granted, beaters are more expensive than they were, but brand new vehicles generally suck as an investment.

They lose a chunk of their value with the first few miles as they become 'used' cars.

A good used car will have some repairs in its future, but most of a vehicle's longevity is a combination of being serviced regularly (oil/filter changes) and driven reasonably.

The problem is the new stuff may go further without maintenance, but when they go, they go hard, and are too complicated to fix properly.

Furthermore, the manufacturers are changing it up, on purpose, every few years, which makes parts way harder to track and carry. Chevy made pretty much the same truck from the early 60s through the 80's - Certainly from '73-86... But 90's had many changes, as did the aughts... And now it is dang near year by year.

This is corrections on the fly, and trying to muddle through it all is a PIA. Add wiring harnesses that are massive and complicated, and failing after 20 years, not to mention the rarity of CPUs, and restoring 90s and up ain't worth doing.

And I would be remiss if I did not point right at Cash for Clunkers for the dearth of used rigs around the country - That's when the used market took off and became unaffordable. It rarified restorables and drove the market and the used parts way up.

[escapeefromtaxachusetts]

Congress does not exist to fix my own bad decisions. Can't afford a $100,000 car? Don't buy one.

It's time to bring home ec back to schools.
When my kids were in 5th grade, their teacher had a week long project where he simulated real life economics, income, taxes, rent, mortgage, food, health insurance and kids had to figure out if they had enough money to live or save...Really had an effect on kids and parents loved it as well. This was in an affluent suburban area so YMMV .

[mountaineer]

Amen, @escapeefromtaxachusetts

[rustynail]

Congress must declare a Debt Jubilee.

[mountaineer]

Congress must declare a Debt Jubilee.

Getting all Old Testament on us? 

[Smokin Joe]

Congress must declare a Debt Jubilee.

Go figure. I spent a year working to pay off my debts, and NOW people want to walk away.

No!

[DB]

Go figure. I spent a year working to pay off my debts, and NOW people want to walk away.

No!

A lot of people did that (walked away) in 2008...

[GtHawk]

Yup

My first car was a1973 Camaro and I could fix just about anything when it came to it

My 2015 Chevy Traverse?? Forget it

63 Studebaker GranTurismo with Avanti drivetrain about as basic as ya get, carburetor, pugs, points and condenser and back then I  had manuals that not just gave step by step instructions they als had detailed pics that Chiltons never got close to.