Auto loan debt “exploding” in U.S.

October 19, 2020

Automotive loans were not protected in the U.S. Cares Act meant to help Americans financially during COVID-19. According to Car and Driver, “anyone with an auto loan who missed some payments over the last half-year might have taken a hit to their credit score.” The General Motors Financial Company received 938 complaints, followed by Toyota Motor Credit Corporation (742), Hyundai Capital (677), Nissan Motor Acceptance Corporation (515), and American Honda Finance Corporation (453). (Source: Car and Driver) Read the original article…

About Todd Phillips

Todd Phillips is the editorial director of Universus Media Group Inc. and the editor of Canadian auto dealer magazine. Todd can be reached at tphillips@universusmedia.com.

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