Why Are So Many People Upside Down on Car Loans?
Hey there! It's podcast day again!
We discuss the state of auto financing with Edmund's director of insights, Ivan Drury, and then Matthew Guy and I discuss angle grinders and the latest from the NASCAR playoffs.
You can find us wherever you get your podcasts, and you can also find us here.
We thank Ivan and Matthew, and we thank Matt Posky for editing. Most of all, we thank you for listening!
[Image: Jeep/Stellantis/TTAC/VerticalScope]
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Tim Healey grew up around the auto-parts business and has always had a love for cars — his parents joke his first word was “‘Vette”. Despite this, he wanted to pursue a career in sports writing but he ended up falling semi-accidentally into the automotive-journalism industry, first at Consumer Guide Automotive and later at Web2Carz.com. He also worked as an industry analyst at Mintel Group and freelanced for About.com, CarFax, Vehix.com, High Gear Media, Torque News, FutureCar.com, Cars.com, among others, and of course Vertical Scope sites such as AutoGuide.com, Off-Road.com, and HybridCars.com. He’s an urbanite and as such, doesn’t need a daily driver, but if he had one, it would be compact, sporty, and have a manual transmission.
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- Lorenzo If it's over 30 years old and over 80k miles, and not a classic, it's a parts car, worth no more than 20% of original price.
- Dusterdude No mileage noted on a 33 year old car means likely well north of 300k + miles , along with issues noted , should equate to an ask price of less than $3k
- Ajla IMO, something like this really should be naturally-aspirated.
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