Subprime, anyone?: Worries mount about car finance in America and Britain

Posted: May 5, 2017 in economy
Tags: , ,

Print section
Print Rubric: 

Worries mount that it is too easy to borrow to buy a car

Print Headline: 

Subprime, anyone?

Print Fly Title: 

Car finance in America and Britain

UK Only Article: 
standard article

Issue: 

The data economy demands a new approach to antitrust

Fly Title: 

Subprime, anyone?

Location: 

LONDON AND NEW YORK

THOUSANDS of second-hand cars, ranging from dented clunkers to Bentleys, glisten under the evening floodlights at Major World, a car dealership in Queens, a borough of New York. “Business has been good,” says a crisply-dressed salesman, scurrying between prospective customers. Almost everyone who wants to buy a car at Major World can get approved for a loan, he explains, regardless of their credit score, or lack of one: when banks turn buyers down, the dealership offers them its own in-house financing.
In both America and Britain new-car sales …

via Economic Crisis http://ift.tt/2pJT4to

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