Here’s the latest reader question, along with my reply!
Jeffs asks: The auto loan industry is mostly manufacturers (Volvo Finance, GMC Finance etc.) and big banks like Capital One and Chase. The gas cars bought in the last several years are 6-7 year loans. Used cars are bought on similar terms. Seems like we’d at least have that much time to keep buying and using gas so these banks who are extensions of the Fed Reserve and thus the Fed Gov. don’t have worthless collateral.
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