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Auto foreclosure rate in the oil patch

Brad S

Well-known member
One of my first reads is David A Stockman - you'll remember him as the budget hawk early in the Reagan administration. So he published the foreclosure rate on auto loans:

U.S. ~ 6% (seems strikingly high)

Tx. ~ 14.5% (patch isn't the only economy)

Ok. ~ 15% (oil patch + Okies)

ND ~ 43% (mostly diesel 4x4) :dunce:
 

loomixguy

Well-known member
It isn't the trucks so much. It's all the modifications and aftermarket BS the oilfield trash seems to think they have to hang or attach to them.

Lots of big Lincoln portable welders available in Texas right now, along with take off welding truck beds.
 

Big Muddy rancher

Well-known member
And yet we have ads on the radio wanting people to trade their late model pick ups in as the US dealers are up for the weekend. Seems if you have a 2015 you can trade almost straight across for a 2016 as the 15's can go south across the border as used and the dealers can keep volumes up on new ones.
 

loomixguy

Well-known member
Facebook is loaded with tards that have a Doodge with a Cum-Apart in it with 300+K miles and because it's lifted and has goofy looking wheels and rubber nobody can afford on it they think it's worth $30K. They even imagine 30+ year old "first generations" with half a million miles on them are still worth $12-15K.

People in Hell want ice water, too. SMFH.
 

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