Tag: APR

By on October 27, 2021

Consumer Reports just released the findings of a year-long study looking into the latest trends in automotive loans and car payments. The resulting information highlights just how explosive the debt growth has been over the last 10 years and the arbitrary way in which borrowers are now being treated.

Long story short, we’re all being swindled.

With vehicle prices ballooning and the associated loans becoming longer than ever, dealers and lenders seem to be operating whatever way yields the steepest profit margins with only a modicum of consideration being given to the established frameworks designed to act as a guard rail. This has led to U.S. citizens carrying around a record $1.37 trillion in automotive load debt and customers with good credit being treated no different than those that fall into the subprime category. Sadly, the issue appears only appears to be worsening as new economic perils are only making things more expensive. Meanwhile, data from the Federal Reserve Bank of New York is projecting national auto debt to swell to $1.42 trillion by year’s end.  (Read More…)

Recent Comments

  • 96redse5sp: “Genius” Putin had started to make plans to invade Ukraine after they toppled his buddy (and...
  • 96redse5sp: I was thinking Chuck Barris.
  • kjhkjlhkjhkljh kljhjkhjklhkjh: “”We WaNt FrEeDuMb Of ChOiCe!!1111!!!!”” scream the pubes...
  • MRF 95 T-Bird: I have a neighbor who owns a GLA. When it’s idling you can hear the diesel like chatter.
  • Jeff S: I have learned a lot about different cars from Corey’s excellent series. Corey’s writing is a...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Jo Borras
  • Mark Baruth
  • Ronnie Schreiber