An Auto Loan Debt Crisis Looks Imminent

Lee Duna@lemmy.nz to News@lemmy.world – 276 points –
An Auto Loan Debt Crisis Looks Imminent
automoblog.net
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You don't need to drive a beater forever. At this level cars are basically worth the same you bought them for. A year of driving a 1k beater and saving 500 a month that is less than an average payment leaves you with 7k for a better car.

Minimum wage in most of the USA is $7.25. Working 40 hours a week, 4 weeks of the month is $1160 dollars before taxes and all the other bullshit. Where exactly is that $500 to save coming from?

Less than 1% of Americans make federal minimum wage. However, despite your dumb take on the amount of money Americans generally make, I strongly agree that saving $500 a month is a complete possibility for many working Americans

I don't see why they don't just ask their parents for money?

It's like people don't even know how to take care of themselves.

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