Over the past year, we've all read numerous headlines on Used Cars prices going up for the first time in decades. Recently as we've fallen on more recessionary consumer conditions and loans tripling in price, many smart analysts like Danielle DiMartino Booth have noted that delinquencies on the loans and abandonment of the cars has increased significantly. What consumers thought was a good financial decision in 2020, no longer seems that way when mortgages and food are considerably more expensive.
Why I'm questioning the existence of this bubble is because earnings from large banks did not cite this risk at all. BOFA, one of the largest lenders in car loans, specifically mentioned the great health of the US consumer. So to lay this mystery to rest, can anyone with more information state the condition of the used car market or give an insight as to the Banks real position?
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