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Amazing WSJ story about the transformation of auto loans as the old American Dream drifts out of reach. Loans now stretch out longer than many people even own their cars, and Wall Street is cashing in on the debt.
Look at where dealers’ profits come from! wsj.com/articles/the-s…
Look at where dealers’ profits come from! wsj.com/articles/the-s…
“U.S. consumers held a record $1.3 trillion of debt tied to their cars at the end of June... up from about $740 billion a decade earlier.”
And auto debt is going to turn into cement shoes if we go into a recession where Uber dies and unemployment jumps. wsj.com/articles/the-s…
And auto debt is going to turn into cement shoes if we go into a recession where Uber dies and unemployment jumps. wsj.com/articles/the-s…
