{"version":"1.0.0","episode":{"title":"Americans are REFUSING to Make Their INSANE Car Payments | Episode 964","url":"http://getcarcurious.com/episodes/americans-are-refusing-to-make-their-insane-car-payments-episode-964","audioUrl":"https://pscrb.fm/rss/p/mgln.ai/e/1385/pdrl.fm/3359a6/injector.simplecastaudio.com/14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9/episodes/65fbc14a-8de7-4582-9415-b615ed8b5bc1/audio/128/default.mp3?aid=rss_feed&awCollectionId=14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9&awEpisodeId=65fbc14a-8de7-4582-9415-b615ed8b5bc1&feed=gkrQ6WSC","description":"Today on CarEdge Live, Ray and Zach discuss the latest auto loan delinquency rate data...Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com\nfor information about our collection and use of personal data for\nadvertising.\n"},"annotations":[{"startTime":568.0,"endTime":573.0,"type":"term","title":"buy here, pay here","url":"/glossary/buy-here-pay-here","quote":"...buy here, pay here, auto financing market where dealers sell and directly finance vehicles for customers with poor or limited credit...","canonicalId":"term:buy-here-pay-here","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"'Buy here, pay here' is a type of auto financing where the dealership sells the vehicle and also provides the financing directly to the customer. This model is often used for buyers with poor or limited credit histories, allowing them to purchase a vehicle without going through traditional banks or lenders.","simplifiedExplanation":"'Buy here, pay here' means you can buy a car and get a loan from the same dealership. This is helpful for people who might not qualify for loans from banks because of their credit history."}},{"startTime":787.8,"endTime":793.0,"type":"concept","title":"15 year auto loan","url":"/glossary/15-year-auto-loan","quote":"...just floated the concept of a 15 year auto loan in order to make automobiles more affordable. Which we know...","canonicalId":"concept:15-year-auto-loan","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A 15 year auto loan is a financing option that allows consumers to pay off their vehicle over a longer period, potentially lowering monthly payments but increasing total interest paid. This concept has implications for vehicle affordability and long-term financial health.","simplifiedExplanation":"A 15 year auto loan means you can take a long time to pay off a car, which can make monthly payments smaller. However, it might cost more in the end because of interest."}},{"startTime":804.9,"endTime":809.2,"type":"car","title":"Mazda Mazda 3","url":"/cars/mazda/mazda2","image":"https://upload.wikimedia.org/wikipedia/commons/d/dc/2003_Mazda_6_%28GG%29_Classic_hatchback_01.jpg","quote":"...here's another example. This was posted on X a while ago, 2018 Mazda Mazda 3. Ultimately what ended up happening here...","canonicalId":"car:mazda:mazda2","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Mazda 3 is a compact car known for its sporty handling and stylish design. The 2018 model features a range of efficient engines and advanced technology options.","simplifiedExplanation":"The Mazda 3 is a small car that is fun to drive and looks good. The 2018 version has good fuel economy and comes with modern tech features.","imageAttribution":"jjron (photographer); Edited by OSX. (CC BY-SA 3.0)"}},{"startTime":804.92,"endTime":809.24,"type":"car","title":"Mazda 3","url":"/cars/mazda/3-axela","image":"https://upload.wikimedia.org/wikipedia/commons/c/c2/Mazda_3_Axela_sedan_2_China_2015-04-23.jpg","quote":"...ple. This was posted on X a while ago, 2018 Mazda Mazda 3. Ultimately what ended up happening here","canonicalId":"car:mazda:3-axela","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Mazda 3, also known as the Axela in some markets, is a compact car that has gained popularity for its sporty design and engaging driving dynamics. It is significant for its balance of performance, efficiency, and technology, making it a strong contender in the compact car segment. Discussions about the Mazda 3 often focus on its reliability and value for money.","simplifiedExplanation":"The Mazda 3 is a small car that many people like because it looks good and is fun to drive. It's known for being reliable and having good fuel economy, which means it doesn't use too much gas. People talk about it because it's a great choice for anyone looking for a compact car.","imageAttribution":"Navigator84 (CC BY-SA 4.0)"}},{"startTime":810.9,"endTime":814.6,"type":"term","title":"30% interest rate","url":"/glossary/30-interest-rate","quote":"...is you have a consumer agreeing to a 30% interest rate.","canonicalId":"term:30-interest-rate","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A 30% interest rate on an auto loan is extremely high and indicates the cost of borrowing money to finance a vehicle. Such high rates can lead to significant financial strain on borrowers, making it difficult to afford monthly payments.","simplifiedExplanation":"A 30% interest rate means you pay a lot more money on top of the price of the car when you borrow to buy it. It's a very high rate and can make it hard to keep up with payments."}},{"startTime":1252.44,"endTime":1254.92,"type":"car","title":"Honda Civic","url":"/cars/honda/civic","image":"https://upload.wikimedia.org/wikipedia/commons/2/23/2022_Honda_Civic_LX_Sedan%2C_front_right%2C_11-02-2022.jpg","quote":"...let's say you're in the market for that new Honda, drum roll please. We've got the Civic right here.","canonicalId":"car:honda:civic","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Honda Civic is a popular compact car known for its reliability, fuel efficiency, and sporty design. It has been a staple in the automotive market since its introduction in the early 1970s, appealing to a wide range of drivers.","simplifiedExplanation":"The Honda Civic is a small car that many people like because it's dependable and gets good gas mileage. It's been around for a long time and comes in different styles and features.","imageAttribution":"MercurySable99 (CC BY-SA 4.0)"}},{"startTime":1262.4,"endTime":1264.16,"type":"car","title":"Honda Civic Hatchback","url":"/cars/honda/civic","image":"https://upload.wikimedia.org/wikipedia/commons/6/60/1991_Honda_Civic_STD_Hatchback_in_Frost_White%2C_front_right%2C_05-15-2022.jpg","quote":"...scrolling there, buddy. Dang, for some reason the Civic Hatchback, I don't have it, let me find a different one.","canonicalId":"car:honda:civic","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Honda Civic Hatchback is a versatile version of the popular Civic compact car, known for its practicality and sporty performance. It has a reputation for reliability and fuel efficiency, making it a favorite among drivers who want a car that is both fun to drive and economical. The hatchback design offers additional cargo space, which adds to its appeal.","simplifiedExplanation":"The Honda Civic Hatchback is a small car that has a back door that opens up, making it easy to load things inside. It's popular because it's reliable, saves gas, and has a sporty feel when driving. People like to talk about it because it's a good option for those who need a practical yet fun car.","imageAttribution":"Cutlass (CC0)"}},{"startTime":1265.7,"endTime":1267.0,"type":"car","title":"Honda CR-V","url":"/cars/honda/cr-v","image":"https://upload.wikimedia.org/wikipedia/commons/c/c3/2018_Honda_CR-V_%28RW_MY18%29_%2BSport_2WD_wagon_%282018-10-22%29_01.jpg","quote":"I'll try the CRV, drum roll please.","canonicalId":"car:honda:cr-v","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Honda CR-V is a compact SUV known for its spacious interior, reliability, and fuel efficiency. It is a popular choice among families and individuals looking for a versatile vehicle.","simplifiedExplanation":"The Honda CR-V is a small SUV that offers a lot of space for passengers and cargo. It's known for being reliable and good for everyday use.","imageAttribution":"EurovisionNim (CC BY-SA 4.0)"}},{"startTime":1275.2,"endTime":1278.3,"type":"term","title":"cost to own","url":"/glossary/cost-to-own","quote":"So the expected, what is this? Cost to own for this particular vehicle over five years is $9,795 for insurance.","canonicalId":"term:cost-to-own","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Cost to own refers to the total expenses associated with owning a vehicle over a specific period, including insurance, maintenance, fuel, and depreciation. It's an important factor for potential buyers to consider.","simplifiedExplanation":"Cost to own is how much money you will spend on a car over time. This includes things like insurance, gas, and repairs. It's good to know this before buying a car."}},{"startTime":1293.8,"endTime":1296.2,"type":"term","title":"total cost of ownership","url":"/glossary/total-cost-of-ownership","quote":"...think about the total cost of ownership, not just the car payment. The car payment's like,...","canonicalId":"term:total-cost-of-ownership","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Total cost of ownership (TCO) refers to the comprehensive assessment of all costs associated with owning a vehicle over a specific period. This includes not only the car payment but also insurance, maintenance, fuel, and depreciation.","simplifiedExplanation":"Total cost of ownership means looking at all the expenses you'll have when you own a car, not just the monthly payment. It includes things like insurance, gas, and repairs."}},{"startTime":1296.2,"endTime":1297.6,"type":"term","title":"car payment","url":"/glossary/car-payment","quote":"...not just the car payment. The car payment's like,...","canonicalId":"term:car-payment","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A car payment is the monthly amount paid to finance or lease a vehicle. It is typically determined by the vehicle's price, the loan terms, and the interest rate.","simplifiedExplanation":"A car payment is the amount of money you pay each month to own or lease a car. It's usually based on how much the car costs and how long you take to pay it off."}},{"startTime":1298.9,"endTime":1300.0,"type":"term","title":"insurance","url":"/glossary/insurance","quote":"...in some cases then the insurance might be more than the car payment.","canonicalId":"term:insurance","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Car insurance is a contract between the vehicle owner and an insurance company that provides financial protection against damage or theft of the vehicle, as well as liability for injuries or damages to others in an accident.","simplifiedExplanation":"Insurance for a car is a way to protect yourself financially if your car gets damaged or if you cause an accident. You pay a monthly fee for this protection."}},{"startTime":1371.6,"endTime":1374.1,"type":"term","title":"maintenance","url":"/glossary/maintenance","quote":"...or whatever maintenance might be or that you should set aside on a monthly basis...","canonicalId":"term:maintenance","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Maintenance refers to the regular services and repairs needed to keep a vehicle running smoothly. This can include oil changes, tire rotations, and brake inspections.","simplifiedExplanation":"Maintenance is the work you need to do on your car to keep it in good shape. It includes things like changing the oil and checking the brakes."}},{"startTime":1554.9,"endTime":1558.0,"type":"term","title":"deficiency balance","url":"/glossary/deficiency-balance","quote":"...whatever the difference between what they get and what is still owed on the vehicle that's known as a deficiency balance...","canonicalId":"term:deficiency-balance","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A deficiency balance occurs when a vehicle is sold for less than the amount owed on the loan. This means that the borrower is still responsible for paying the remaining balance after the sale of the vehicle at auction.","simplifiedExplanation":"If a car is sold for less money than what you owe on it, the leftover amount is called a deficiency balance. You still have to pay that leftover amount even after the car is sold."}},{"startTime":1718.3,"endTime":1721.7,"type":"term","title":"pre-purchase inspection","url":"/glossary/pre-purchase-inspection","quote":"...to get a pre-purchase inspection done by an outside independent source, so that they might be able to see things that the dealer missed","canonicalId":"term:pre-purchase-inspection","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A pre-purchase inspection is a thorough examination of a used vehicle by a qualified mechanic before purchase. This inspection can uncover hidden issues that may not be apparent during a casual inspection or test drive.","simplifiedExplanation":"A pre-purchase inspection is when a mechanic checks a used car to make sure it's in good condition before you buy it. It helps find problems that you might not see just by looking at the car."}},{"startTime":1807.0,"endTime":1809.3,"type":"term","title":"15-year car loan","url":"/glossary/15-year-car-loan","quote":"The idea of a 15-year car loan come, that's like, that's a sign that things are bad for sure.","canonicalId":"term:15-year-car-loan","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A 15-year car loan is a financing option that allows buyers to pay off their vehicle over a period of 15 years. While it may lower monthly payments, it often results in paying significantly more interest over the life of the loan and can indicate financial instability in the auto market.","simplifiedExplanation":"A 15-year car loan means you have 15 years to pay back the money you borrowed to buy a car. It can make monthly payments smaller, but you end up paying a lot more in interest, which isn't usually a good sign for the economy."}},{"startTime":1812.6,"endTime":1815.0,"type":"term","title":"84 month car loan","url":"/glossary/84-month-car-loan","quote":"Well, you know, we already, we've already espoused that 84 month, 96 month car loans","canonicalId":"term:84-month-car-loan","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"An 84-month car loan is a financing option that allows buyers to pay off their vehicle over a period of 7 years. While it can make monthly payments more affordable, it can also lead to higher overall interest costs and may reflect economic challenges in the auto market.","simplifiedExplanation":"An 84-month car loan means you have 7 years to pay off the money you borrowed for the car. It can make your monthly payments lower, but you might end up paying more in interest overall, which isn't ideal."}},{"startTime":1815.0,"endTime":1817.7,"type":"term","title":"96 month car loan","url":"/glossary/96-month-car-loan","quote":"...that 84 month, 96 month car loans","canonicalId":"term:96-month-car-loan","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A 96-month car loan is a financing option that allows buyers to pay off their vehicle over a period of 8 years. Similar to longer loan terms, it can make monthly payments more manageable but often results in higher total interest payments and may indicate economic uncertainty.","simplifiedExplanation":"A 96-month car loan means you have 8 years to pay back the money you borrowed for the car. It can help keep monthly payments low, but you might pay a lot more in interest in the long run, which isn't usually a good sign."}},{"startTime":1980.8,"endTime":1983.04,"type":"car","title":"Buick Le Sabre","url":"/cars/buick/lesabre","image":"https://upload.wikimedia.org/wikipedia/commons/e/e8/1964_Buick_LeSabre_Custom_vf.jpg","quote":"...nd this concept card and it screams Ray, the 1951 Buick Le Sabre. Deb, what am I about to look up here?","canonicalId":"car:buick:lesabre","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Buick LeSabre was a full-size car produced by Buick from 1959 until 2005, known for its spacious interior and smooth ride. It holds significance as a classic American sedan that represents the brand's focus on comfort and luxury during its production years. The 1951 Buick LeSabre concept car is particularly notable for its futuristic design and innovative features for its time.","simplifiedExplanation":"The Buick LeSabre is a large car that was made for many years and is known for being very comfortable to ride in. It was popular because it had a lot of space inside and was designed to be a smooth drive. The 1951 version is special because it looked very modern for its time and had some cool features.","imageAttribution":"Mr.choppers (CC BY-SA 3.0)"}}],"speakers":[{"id":"s1","name":"Ray","role":"host"},{"id":"s2","name":"Zach Shefska","role":"host"},{"id":"s3","name":"Bleav","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/americans-are-refusing-to-make-their-insane-car-payments-episode-964/transcript.vtt","type":"text/vtt"}]}