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Used cars are also entering a bubble.
Abused, falling apart, shit boxes are selling for what a decent used car was 5 years ago, and decent used cars are the price of a new car 5 years ago, yet basically no one is earning enough to afford the difference.
More auto loans are underwater than ever before, and a lot of them are for used cars. Eventually something’s gonna have to give.
There’s a reason that Obama pushed so hard to bail out the auto industry during the financial crisis. If the car market fails, it means less able bodied Americans will be able to get to their jobs due to how our entire country is structured. If the Auto industry fails, America will slowly grind to a halt.
This is coming before Christmas next year. Many researchers say the auto loan industry right now is worse than both the 2000 and 2008 crashes. So the trump 2026 crash could destroy the entire country if millions of loans are defaulted and the government is broke.