You can see that in strong auto sales in Florida with bad credit are up , which recently grew at their fastest rate since 2007, and have been one of the economy’s bright spots.
But the OCC cautions that more car buyers in Florida are clearly stretching. Here’s a chart from the report showing what’s happening with charge-offs. Lenders of all types are taking bigger baths when loans go bad in Florida.
Now there are ton of car dealers in Florida that have new and used cars at affordable prices. But you need to have a plan for a down payment these days for a used car as they are at an all time high.
Car buyers are honestly for going new car and buying used in some areas of Florida they are paying about 8% more than the retail price of a vehicle which makes no sense.