The Next Financial Crisis Might Be in Your Driveway

With late payments on the rise, a dealership upsell begins to look dangerous.

Lured by low interest rates, low gas prices, and a crop of seductive vehicles that are faster, smarter, and more efficient than ever before, American drivers are increasingly riding in style. Don’t be fooled by the curb appeal, though-those swanky machines are heavily leveraged.

The country’s auto debt hit a record in the fourth quarter of 2016, according to the Federal Reserve Bank of New York, when a rush of year-end car shopping pushed vehicle loans to a dubious peak of $1.16 trillion. The combination of new car smell and new credit woes stretches from Subarus in Maine to Teslas in San Francisco.

  Read More!

Print Friendly

Tags: , , , , , , , , , , ,

Comments are closed.

10 visitors online now
3 guests, 7 bots, 0 members
Max visitors today: 79 at 06:51 am UTC
This month: 138 at 08-04-2017 10:22 am UTC
This year: 138 at 08-04-2017 10:22 am UTC
All time: 307 at 07-02-2014 03:18 pm UTC
Skip to toolbar