New Car Financing vs. Hours Worked

<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdt67yHI2jMyTXanuqEe85CiWmTHCYq6OxvCH-7fpN6zDLv-2hPN8y5R3AVOZzd0FKvjPNNAa89Kr8wJ-PHDBwU5cS9dcEUvL5rNfBDmNyCEsgFw9Y6na5tT6rlka8Qwpd1adqCB8UFhU/s1600/New+Car+Financing.jpg" imageanchor="1"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdt67yHI2jMyTXanuqEe85CiWmTHCYq6OxvCH-7fpN6zDLv-2hPN8y5R3AVOZzd0FKvjPNNAa89Kr8wJ-PHDBwU5cS9dcEUvL5rNfBDmNyCEsgFw9Y6na5tT6rlka8Qwpd1adqCB8UFhU/s320/New+Car+Financing.jpg" /></a><br /><span style="font-size: x-small;">Click to enlarge.</span><br /><br />FAIL.<br /><br /><b>September 6, 2013</b><br /><a href="http://www.consumerreports.org/cro/news/2013/09/car-financing-on-rise-loans-and-leases/index.htm">Consumers rely on car financing more than ever</a><br /><br /><div style="color: #666666;"><i>Loans now average $457 with payments over <span style="color: red;">65 months</span>, putting the average amount financed on a new car at <span style="color: red;">$26,526</span>.<br /><br /><span style="color: red;">Subprime loans</span> to customers with less than a 680 credit score saw an increase, rising from 25.4 percent of loans last year to <span style="color: red;">27.5 percent in 2013</span>.<br /><br />Extending payments past four years, and well beyond the typical new-car bumper-to-bumper warranty, <span style="color: red;">suggests people are buying more car than they can arguably afford</span>.</i></div><br />The future's so bright I gotta wear 27.5% subprime shades!<br /><br /><b>See Also:</b><br /><a href="http://news-these-days.blogspot.com/2013/08/the-illusion-of-auto-industry-recovery.html">The Illusion of an Auto Industry "Recovery"</a><br /><br /><b>Source Data:</b><br /><a href="http://research.stlouisfed.org/fred2/graph/?g=mgw">St. Louis Fed: Custom Chart</a>

New Car Financing vs. Hours Worked

Click to enlarge. FAIL. September 6, 2013 Consumers rely on car financing more than ever Loans now average $457 with payments over 65 months...

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