Subprime Auto Loans - Crisis In The Auto Industry

Get a 10-Day Free Trial of Market Insiders: https://theminoritymindset.com/Market-Insiders . . 🚨Subscribe to our FREE Finance & Business Newsletter🚨 Financial News You Can Finally Use: http://bit.ly/M2FreeNewsletter Subprime auto loans have become very popular over the last few years. In fact, 22% of all auto loans are subprime. Now with subprime auto loan delinquencies rising, this is creating a problem for the auto industry. Subscribe To Our Channel: http://bit.ly/M2YouTube Recommended: Do NOT Buy A Car Until You Watch This: https://www.youtube.com/watch?v=NZBv8C5VpUw&t=1s Why Financial Education Is More Important Now Than Ever: https://www.youtube.com/watch?v=0cScikkNXqQ&list=PLKsS_EjCEmdp1Ou6YeukY1refAQY251ef Subprime Auto Loans - The Auto Industry Crisis 0:20 - Many industries have been hurt during this 2020 economic crash and the auto industry is hurting 1:20 - Understanding the 2008 auto bubble when GM and Chrysler went bankrupt 2:30 - People weren’t buying cars and didn’t have the money to make their car payments 2:50 - Subprime car loan delinquencies were a way for companies to make much more on their loans 4:20 - Why subprime loans are so profitable 4:55 - How financing companies were able to increase the size of their subprime loans 7:00 - Auto delinquencies are at an all time high 7:50 - Credit Acceptance Corporation’s founder sold many shares of his company which sells subprime auto loans 10:00 - A shrinking demand for cars has hurt the price of used cars 10:55 - Banks made it harder to get an auto loan in 2019 12:28 - Will this great lockdown change how people buy cars in the future What Is The Minority Mindset? We are a financial news & education company. The Minority Mindset has nothing to do with the way you look, your ethnicity, or your skin color. It's the mindset of thinking differently than the majority of people when it comes to your money. #MIH #GetMoneySmart Check out some of our recommended products! Please note: some of the links are from our sponsors, so if you use them, we will get compensated. There's no additional cost to you. ---------- ➤ Fundrise 1) 🏠 Fundrise - Invest in real estate with as little as $500! See the historical returns here: http://bit.ly/InvestFundrise ---------- ➤ CIT Bank 2) 🏦 CIT Bank - Get a much better interest rate on your savings account with no fees. CIT Bank is FDIC Insured and conditions apply: http://bit.ly/CITsavings ---------- ➤ Webull 3) 📈 Webull - Buy & sell stocks, pay $0 in commissions, and get a free stock: http://bit.ly/m2WebullFreeStock ---------- ➤ Credit Cards 4) 💰 Credit cards are great if you know how to use them the right way. Here's a breakdown of our favorite cards: Best cash back credit cards: https://theminoritymindset.com/best-cash-back-credit-card-personal/ Best travel credit cards: https://theminoritymindset.com/travel-credit-card/ Best business credit cards: https://theminoritymindset.com/business-credit-card/ ---------- ➤Credible 5) 💸 Credible - Refinance your student loans with the lowest interest rates possible - see how much you can saving: https://bit.ly/m2RefinanceLoan ---------- ➤ Policygenius 6) 🛡 Policygenius - make sure your family is protected with life insurance. Policygenius will find you the best deal at no additional cost: http://bit.ly/PolicygeniusLifeYT ---------- ➤ Airbnb 7) 🏘 Airbnb - earn extra income by listing your home: http://bit.ly/M2Airbnb ---------- Twitter: https://www.Twitter.com/MinorityM1ndset Instagram: http://www.Instagram.com/MinorityMindset Facebook: http://www.Facebook.com/MinorityMindset See more & read our blog! http://www.TheMinorityMindset.com This Video: https://youtu.be/AeiKLXT8xVo Channel: https://www.youtube.com/MinorityMindset Video host: Jaspreet Singh DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.