Road To Ruin: Subprime Lending In The Auto Industry

Wall Street is beginning to worry that subprime lending, currently unraveling in the mortgage industry, will deliver a double whammy to the economy as more and more consumers, who financed their cars with subprime loans, default. If it happens, consumer activists say banks and car dealers only have themselves to blame.

Car dealers are destroying their market, with phony loan documents and hidden charges that are driving their subprime customers into default.

Read (ConsumerAffairs.com)

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.