I didn’t see it mentioned in the article is that I’ve also seen an increase in people getting 5 and 7 year car loans. So not only are you paying more in interest over the life of the loan but also cars are much more likely to have catastrophic problems. So if you’re still 2 years out on a loan, can’t afford decent insurance (because you also can’t afford your loan), and then have an accident you’re stuck in a debt hole with no way out because you can’t even get to work

Oh, don’t forget gas is also expensive so you can’t afford to fill up either