Tue, 5 April 2016
In 2015, record number of cars and trucks were sold in the United States. Most people thing the strong car sales shows how strong the car market really is and reality is much different! What happened in the housing market in 2008 is what is about to happen to the car industry! Most people buying new cars are broke, they can’t afford them! Low interest rates have encouraged people to buy cars and much nicer cars than they normally would have! 30% of people trading in a vehicle have negative $4,500 in equity! People are trading in cars that haven’t been paid off! Ladies and gentleman, the car market is about to get crushed and it’s going to be a buyers’ market.