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I have an article on my desk that is honestly pretty crazy. It was an email before it was, you know, before it was sitting here on the desk.

And I looked at the email earlier today and it said, garbage deals. Deals, dealership puts customers in cars with $3,000 a month car payments.

That's wiggity, wickety, wickety, whack.

Like, that's crazy.

That's nuts.

Okay, it says a New York Fed survey published earlier this week indicated that in the fourth quarter of 2023,

auto loan delinquencies reached levels

not seen since right after the Great Recession more than a decade ago.

So we're hitting historical numbers here.

It says delinquency transaction rates have pushed past pre-pandemic levels.

And we remember this, though.

We remember during the pandemic, people were buying used cars.

Yes!

On like 72-month notes that, like, I have a buddy.

And if you ask him, he's one of my oldest friends.

Like, what do you do for a living?

He says, I make bad car loans.

And even he said, dude, these loans like people are asking for are absolute madness.

I am just, I'm really shocked. And they're coming home to Roos now, but then it's getting worse.

It's getting worse, man. Wow. It says an Edmund report from last year showed the percentage of

drivers with plus $1,000 monthly payments

...