A $45,000 Loan for a $27,000 Ride: More Borrowers Are Going Underwater on Car Loans

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A $45,000 Loan for a $27,000 Ride: More Borrowers Are Going Underwater on Car Loans

John Schricker
took out a loan to buy a car in 2017. Then he took out another. And then another.In two years, the 40-year-old electrician signed up for four auto loans, each time trading in the previous car and rolling the unpaid balance into the next loan. …
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