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With 96 month auto loan terms they can now cast a very wide net and access a lot of otherwise very under-qualified buyers. I think 84 months is now the average
by hadlock 4y ago
With 96 month auto loan terms they can now cast a very wide net and access a lot of otherwise very under-qualified buyers. I think 84 months is now the average auto loan duration.
- toomuchtodo 4y agoYou’d think these would be high risk loans (speaking specifically of long amortization Tesla auto loans), but I keep an eye out for repossed Teslas and they are rare. Might change with the go forward macro, but they’ll be snapped right up and liquidated into the used market based on demand indicators. (my credit union financed my Teslas for 84 months at 1.75%)
- hadlock 4y agoRisk isn't a very large part of the equation as cars are highly liquid assets and with a tow truck, easily repossessed. Homes historically take months to sell and laws about repossession while occupied are complex.
- HyperSane 4y agoAs a Tesla owner does the Musk stigma bother you at all?
- toomuchtodo 4y agoNo.
- HyperSane 4y agoIt would bother me a lot.
- toomuchtodo 4y agoWe are different people.
- HyperSane 4y ago