4 ms·
Auto loans defaulting seems to suggest that the car market does not support the current rates and prices.
by Hamuko 1y ago
Auto loans defaulting seems to suggest that the car market does not support the current rates and prices.
- toomuchtodo 1y agoYou’re correct. The loans are made because they’re profitable even when the borrower defaults and a repo is performed. The car is sold to someone else and the cycle repeats. The goal is to get you off the lot and to get enough payments and interest out of the borrower so it’s a net profit even when the borrower defaults. "America runs on credit."