More than 100 million Americans have an auto mortgage and auto mortgage debt within the U.S. is at a file excessive of $1.56 trillion. Between the Covid-19 pandemic, provide chain points, alleged predatory lending practices, inflation, and the Federal Reserve’s rate of interest hikes, getting an auto mortgage is getting more and more tough and expensive. CNBC spoke with Chase Auto and Toyota Financial Services to study what’s taking place within the auto mortgage trade and what customers can do to verify they’re protected.
Chapters:
00:00 — Introduction
01:51 — How auto loans work
05:49 — Market modifications
08:19 — Alleged predatory lending
13:19 — Consumer safety
Produced and Edited by: Emily Lorsch
Animation: Alex Wood, Jason Reginato
Senior Managing Producer: Tala Hadavi
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Why Americans Are Falling Behind On Car Loans
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