Car Today | Rising prices on old used cars creating crisis in basic transportation

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More than 7 million Americans are already 90 or more days behind on their car loans, according to the New York Federal Reserve, and serious delinquency rates among borrowers with the lowest credit scores have by far seen the fastest acceleration. The seeds of the problem are buried deep in the financial crisis, when in the midst of the worst economic downturn since the Great Depression, automakers slashed production. A decade later, that has made a relative rarity of used 10-year-old vehicles

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Rising prices on old used cars creating crisis in basic transportation originally appeared on Autoblog on Sun, 13 Oct 2019 09:00:00 EDT. Please see our terms for use of feeds.

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October 13, 2019 at 06:30PM
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