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Key findings from our new report on #AutoDebt, with @uspirg frontiergroup.org/reports/fg/dri…
1. Owning a car is the price of admission to the economy and society in much of America -- the result of generations of public policy.
1. Owning a car is the price of admission to the economy and society in much of America -- the result of generations of public policy.
2. Owning a car is expensive and drives millions of households to take on #debt.
Transportation is the 2nd biggest expenditure for American households, behind only housing. Today, more Americans carry auto debt, and they owe more on their loans, than ever before.
Transportation is the 2nd biggest expenditure for American households, behind only housing. Today, more Americans carry auto debt, and they owe more on their loans, than ever before.
3. Auto borrowing varies by income, age and location across the United States.
Over the last decade, auto debt per capita has been growing fastest among the oldest Americans (those age 70 and older).
Over the last decade, auto debt per capita has been growing fastest among the oldest Americans (those age 70 and older).
4. The loosening of auto credit after the Great Recession has contributed to rising indebtedness for cars, increased car ownership, and reductions in transit use frontiergroup.org/reports/fg/dri…
5. The rise in automobile debt since the Great Recession leaves millions of Americans financially vulnerable – especially in the event of an economic downturn.
Bottom line: Americans should not face crippling debt or abusive practices in the marketplace to secure the transportation they need.
New report, Driving Into Debt, with @uspirg out today. frontiergroup.org/reports/fg/dri…
New report, Driving Into Debt, with @uspirg out today. frontiergroup.org/reports/fg/dri…
