correct me if I'm wrong here but the major difference between the two is you need to qualify for the auto loans... compared to student loans where we'll give someone $200K to go to art school
They don't make as much news as student loans but I'm shocked how much automobile debt there is: $1.2 trillion, up half a trillion in a decade.https://fred.stlouisfed.org/series/MVLOAS
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Yes but one asset at least in theory has positive income characteristics while the other depreciates in virtually every case. Unsure if it's still true but a few years ago the avg car loan > avg student loan.
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Yeah, interesting.
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this goes back to 2002. autos are surprisingly close to total household debt in terms of growth student loans are in their own stratospherepic.twitter.com/LJ18exQEzg
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Large numbers for sure, but the growth hasn’t been outsized (guessing servicing may even be negative)pic.twitter.com/oBhDl3Oxsh
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Rolling, depreciating assets that require insurance, maintenance, and an occasional vacuuming out, as well.
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Check out the chart in terms of "Change from Year Ago, Billions of Dollars" The impact of the GFC in 2007-09 is amazingpic.twitter.com/9JItrg4Pse
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