Mmastodon LifeAutos first seen 16 h ago, last 8 h ago, peak #1

More US car owners fall underwater on auto loans

Original: Here’s another good article on the # subprime problem facing US car loans today. Car owners are increasingly underwater

A growing number of American car owners owe more on their vehicles than the cars are worth, a sign of stress in the subprime auto loan market. Some borrowers are responding by keeping their cars longer, while others are rolling negative equity into new loans, deepening their debt. Commenters point to the practice as a warning about loose lending standards in the US car market.

Why now: Rising negative equity in car loans is drawing attention as a possible signal of subprime-style trouble in the US economy.

US auto loan marketsubprime borrowerscar owners

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• Here’s another good article on the # subprime problem facing US car loans today. Car owners are increasingly underwater (i.e. they owe more on their car than the car is worth). As a result, some people are driving their cars longer (not bad), but some are rolling their debt… · drahardja@sfba.social · 6

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