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

Posted: May 5, 2017 in economy
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Worries mount that it is too easy to borrow to buy a car

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Subprime, anyone?

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Car finance in America and Britain

UK Only Article: 
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The data economy demands a new approach to antitrust

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Subprime, anyone?



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


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