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I welcome and am waiting for the carpocalypse.

You are almost always upside down with a car loan. That is how vehicles depreciate but point is the excessiveness of it.

I welcome and am waiting for the carpocalypse. You are almost always upside down with a car loan. That is how vehicles depreciate but point is the excessiveness of it. [Source](https://www.thegatewaypundit.com/2023/12/bidenomics-number-americans-upside-down-auto-loans-continue/)

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[–] • 1 pt

Haven't had a car loan since the nineties. I buy used and pay cash.

[–] • 1 pt

Ditto.

[–] • 0 pt

I've found it the best way to go.

[–] • 1 pt

I took my last note out 1.99%. At that rate it is free money, I took the loan and put my money to work for me elsewhere. Currently my credit score fluxes around 825 and my bank graciously notified me I'm pre-approved for 7%. Yeah no thanks....

[–] • 1 pt

Sounds like you did pretty good!

Speaking of pre-approved and 7%, when we were house shopping, I made sure we were pre-approved, not just pre-qualified. Had no pre-payment penalty written into the contract, as well. Unfortunately, weren't able to do that, but only have a couple more years. It's $700+/mo. payment and taxes, which, especially nowadays, is still pretty reasonable.

[–] • 1 pt

That's a very manageable payment. I know a lot of people paying more than that for one bedroom apartments.