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Yup - got recession written all over it in the US at least. Everyone I know in Los Angeles is leasing a new car, at least a couple of them have got deals despite not having regular work.
Extended payment terms on loans (84 months and out), desperately low rates and loans in excess of the purchase price of the vehicle (to include taxes etc) are alarmingly common.
Jung
Anyone been following this story? I can't quite picture a full on collapse, but it's clearly not sustainable, so I do wonder where it could all end up and what it means for the industry generally.
https://www.ft.com/content/bab49198-3f98-11e7-9d56-25f963e998b2
https://www.theguardian.com/money/2017/feb/10/are-car-loans-driving-us-towards-the-next-financial-crash