3 ms·

If you mean the Great Depression, the invention of mass market car finance predates it by a decade.

• bombcar 1y ago
  Let’s make it so car loans are non-recourse (they can only repossess the car) and see how it shakes out.
  • deleted 1y ago
    [deleted]
  • JumpCrisscross 1y ago
    > Let’s make it so car loans are non-recourse You're moving your goalposts to easily-tested--and disprovable--ground. The flip side of limited recourse is limited liability. For houses, non-recourse lending promotes speculation, volatility and risk shifting [1]. One would expect similar effects if non-recourse lending were normalised for cars: higher prices, bigger booms and worse busts. [1] https://www1.villanova.edu/dam/villanova/VSB/assets/marc/marc2017/SSRN-id2886111.pdf https://www1.villanova.edu/dam/villanova/VSB/assets/marc/mar...