Wallet Watch

Traffic Jam in the Repo Lane: Defaults Soar on Auto Loans

March 12, 2008 · No Comments

Car financing is becoming an increasingly hot subject for the consumer credit world and for walletwatch. According to the Boston Globe,

http://www.boston.com/news/local/massachusetts/articles/2008/03/07/entering_the_repossession_lane/ 

The rate of auto-loan defaults recently reached a 10-year high of 3.4 percent. And one local auction company saw repossessions nearly triple last month compared with a year ago.

The Mobility Agenda is putting together a blog and collection of articles about car financing at http://www.mobilityagenda.org/carfinancing

Tow truck operator Dana Williamson loaded a repossessed Ford Explorer in Peterborough, N.H., yesterday.

Categories: credit markets · middle class squeeze

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