mr peters speaks about the cost, and the future of, personal vehicles; 

You’ve probably read that it is now common for people to sign up for seven years of payments – because this is the only way many people can afford to drive a new vehicle. More payments being more manageable than fewer – but higher – payments. This works – for awhile.

But it can’t work for too much longer, because depreciation catches up – and passes – you right around the seven year mark. By this time, you are likely to find that you owe more (the remaining loan balance) than the car is worth by then and that makes it not worth making those payments any longer. People walk away. The “under water” vehicle gets repossessed. Lenders know that car loans can’t be extended much beyond seven years and that will limit the number of loans written that are for longer than seven years. This, in turn, is going to limit new vehicle sales (or at least, limit the financing of them, which amounts to the same thing).

What then?.............more...........