News@lemmy.worldEnglish · 8 months ago

An Auto Loan Debt Crisis Looks Imminent

www.automoblog.net

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280

An Auto Loan Debt Crisis Looks Imminent

www.automoblog.net

Lee Duna@lemmy.nz to

News@lemmy.worldEnglish · 8 months ago

160

Car loan debt has ballooned, delinquencies are still rising, and major lenders are leaving the market. Is an auto loan debt crisis coming soon?

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Patches@sh.itjust.works
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- CmdrShepard@lemmy.one
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  I cant imagine any reputable bank gave out a $35k loan on a $1200 car. That sounds like something a “buy here pay here” lot might so and they’ll just repo the car then resell it again.

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