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Industry News: More Consumers Find Themselves 'Upside Down' On Trade-Ins

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56 minutes ago, dfelt said:

@hyperv6

Well said my friend. This should be a basic 101 for everyone in 9th - 12th grade so they can hopefully learn from the errors of past adults and get the education they need to work and dig a deep hole that burdens them for life with debt.

....and keep people from moving back in with mom and dad when they turn 26....

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  • G. David Felt
    G. David Felt

    Not surprised by this at all, it really is to be expected when creative financing allows people of little income to buy at a level that requires double if not triple what they really can afford.

  • I have sat with co workers that own $25K or more on credit cards and no way to pay it off. Some have school debts on degrees they can not get a job to pay for it. One woman went to Mount Union fo

  • All good points by everyone.  I would say there are 2 huge problems.  First people want to buy cars with no money down when they shouldn't buy a car unless they can put like 10% down on it, if sales t

5 minutes ago, A Horse With No Name said:

....and keep people from moving back in with mom and dad when they turn 26....

I have mixed feelings about this as my son once he finished college moved out and never looked back. Successful Graphic designer and loves his life, productive and works fine.

My daughter also successful as a Benefits HR employee at Tommy Bahama but still lives at home. Has a great relationship with her mom and me and over all productive and successful as she pays her own way. 

We have have many discussions and she does not see the need to move out. She pays her own way, loves hanging out with us when she does not work out or hang with her friends. 

I think it really depends on the example set by the parents. You can have kids at home or out that are very successful or you can have kids that suck you dry and cause nothing but problems for you.

Really depends on how you raise them.

2 minutes ago, dfelt said:

I have mixed feelings about this as my son once he finished college moved out and never looked back. Successful Graphic designer and loves his life, productive and works fine.

My daughter also successful as a Benefits HR employee at Tommy Bahama but still lives at home. Has a great relationship with her mom and me and over all productive and successful as she pays her own way. 

We have have many discussions and she does not see the need to move out. She pays her own way, loves hanging out with us when she does not work out or hang with her friends. 

I think it really depends on the example set by the parents. You can have kids at home or out that are very successful or you can have kids that suck you dry and cause nothing but problems for you.

Really depends on how you raise them.

My son lives at home (my 23 year old) because he is saving money for a house.

I have no problem with them living at home, I have a problem with them doing so because they have no other choice.

6 minutes ago, A Horse With No Name said:

My son lives at home (my 23 year old) because he is saving money for a house.

I have no problem with them living at home, I have a problem with them doing so because they have no other choice.

agree, as long as people are productive and earning an income that supports themselves and pays the bills, if they choose to live with parents because they have longer plans, more power to them. My daughter is also saving for her own house while living with us.

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