ilmscore | Prediction Details
"car loans car loans car loans are killing Americans and it's the it's number one video I did on YouTube um and I think it's approaching like a million views now it was called America's number one wealth killer and it was all about the car loan and I broke down um you know how depreciation works and how this actually works when you're paying interest on a something going down in value so that when you you buy a $40,000 car after interest and the length of the loan is over you paid 50 for that so an extra 10 grand in interest well the car is now Worth 16 or 20 grand and I'm like so more and more people almost every person that calls the Ramsey Show lately calls in and they say hey my car is worth 20 I owe 35 I'm underwater on my car"
By Minority Mindset | March 13, 2024 | Pending
From video
How I Went From Broke To Millionaire In 3 Steps | George Kamel x Jaspreet Singh 00:38:43 - 00:39:27
Interpreted Prediction
Car loans are identified as a major wealth killer in America. This is due to the depreciation of the vehicle while interest accrues, leading to individuals owing more than the car is worth.

Prediction Details

Topic
Car Loans as a Wealth Killer

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.