7 million car loans are 90 days late or more,that's how.I said it before when posting about shopping for a truck last December, I asked a salesman if people really came in and bought $70,000 to $80,000 pickups and he said, "Yes. And a lot of them don't make that much money in a year. They just stretch the payments out over 7 years." I thought I was going to be sick.