The Mortgage Professor: Is a crisis brewing in used car loans?

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  • DN Subscriber Cottonwood Heights, UT
    Aug. 7, 2014 2:46 p.m.

    The need for large loans to buy used cars is the result of Obama's "Cash for clunkers" scheme which took hundreds of thousands of old vehicles off the roads and used car lots. While they may not have been as "green" as the newer cars, they were cheap transportation for people who could no afford more expensive cars.

    Another unintended consequence of liberal programs which end up costing more and creating new problems instead of letting the free market work.