RE: A Lot Of FOMO Traders Are Becoming Trench Meat 🍖 🥩🙈
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I get uncomfortable with a car loan at five years. I can't imagine seven. We had some friends that financed their trailer for like eleven years and I about fell out of my chair! That's just a sign to me you shouldn't be making the purchase.
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I've never had a car note for better or for worse but yeah the loans are likely going to keep getting stretched out. I fully expect companies like General Motors and Harley Davidson to have an Indian woman CEO and a pickup truck will be $295,000 with a 15 year note and if you go to fast or take your eyes off the road a ticket will be issued and the money will immediately be taken out of your bank account and Chase will then charge an additional fee for being a bad citizen.
I don't use banks anymore.