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by ttraub
2419 days ago
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Car loans are a relatively small component of overall consumer debt in the U.S.[1] By far, the largest amount of money tied up in debt is in mortgages. The highest number of borrowers are credit card users. Underwater car loans are a problem for some borrowers, maybe, and could portend a slowdown in car buying, but people have many options when it comes to cars. They'll buy used, if they hit a debt wall and simply can't afford new, then later trade up for a new vehicle. It's unlikely that this is a sign of recession, in my opinion. 1. https://www.lendingtree.com/debt-consolidation/consumer-debt... |
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