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> people are far less likely to default on a car rather than a home because in suburban America, you need your car to keep your job, regardless of where you liv
by jgalt212 10y ago
> people are far less likely to default on a car rather than a home because in suburban America, you need your car to keep your job, regardless of where you live
Also, it's a lot harder to repossess a home (i.e. foreclose) than it is to repo a car. Although, some of these advance repo methods are coming under closer scrutiny.
https://www.bloomberg.com/news/articles/2017-03-06/another-auto-lender-faces-regulatory-probe-into-kill-switches https://www.bloomberg.com/news/articles/2017-03-06/another-a...