If that’s the future of car ownership, then I’ll walk

Buy here pay here - Picture courtesy consumerlawyers.org

Auto sales in the U.S. are powering back to levels not seen since the early mid 2000’s. They are again running on a toxic fuel called sub-prime loans. New car sales are expected to be above 15 million this year, that’s 50 percent more than in 2009. In the same time-frame, originations of car loans to borrowers with bad credit have almost doubled, Citigroup said in a Sept. 6 report. Depending on which side you are, it will get better, or worse. Also, expect to sign your last bit of freedom away to get a car loan. [Continue Reading]