Soaring Car Prices Put American Auto Loans Underwater ...Middle East

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Soaring Car Prices Put American Auto Loans Underwater
source : OILPRICE ( Middle East ) () 36
Millions of Americans who took out loans to purchase overpriced used vehicles during the pandemic are at risk of going underwater. Financing costs are soaring, and used car values are sliding, culminating into a perfect storm as only the tip of the negative equity iceberg appears.  On Tuesday, credit reporting firm TransUnion and market researcher J.D. Power published a new report warning in recent quarters that used car loan-to-value ratios (LTVs) at origination have "trended in the wrong direction for consumers."  Originating…

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