Tuesday, September 30, 2014

Sub-prime auto loans leave borrowers stranded

For CityLab, Sarah Goodyear documents a horrific consequence of society’s car-dependency. Sub-prime auto loans encourage borrowers to take out loans on cars that they’re unable to pay for. When they default on payments, lenders disable the cars remotely, leaving the borrowers without access to work, health care or basic goods and services.

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