There are big used-car buying corporations like Carvana that buy up used cars by offering better prices than dealer trade ins.
This means way less used inventory on dealer lots and higher prices across the board, so that means a lot more people need loans to buy cars, and loans are longer with higher rates.
There are big used-car buying corporations like Carvana that buy up used cars by offering better prices than dealer trade ins.
This means way less used inventory on dealer lots and higher prices across the board, so that means a lot more people need loans to buy cars, and loans are longer with higher rates.
Most Americans live paycheck to paycheck. It’s pretty hard to save up enough to buy even a used car cash anyway.