An Auto Loan Debt Crisis Looks Imminent
Car loan debt has ballooned, delinquencies are still rising, and major lenders are leaving the market. Is an auto loan debt crisis coming soon?
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Dealers are starting to call around. They’re acting confident but they know the market has collapsed… they’re all trying to sell the last NFT.
they can hear the music and see the lack of chairs...
My dad found a rural lot near here where a bunch of dealers are parking inventory so they can still make it look like a shortage. One dealer still has $5k markups last I checked, but also still have the car I looked at ~5 months ago.
Lots are full where I am. I asked about one car a few months ago and they wouldn’t haggle. Tempted to call back and ask when they car’s lot birthday is so I can bring a cake.