Despite everything else getting expensive, Tesla pulled a wild card and slashed the prices of its models in the U.S., and Europe, sometimes more than 20% off the sticker price. Still, the trend-setting move doesn’t mean Americans generally can afford, or those on credit are up to date on their auto loan payments.

It’s not a secret anymore. Automobiles are more expensive today than they were five years ago. But that doesn’t mean the American consumer will stop taking trips to the dealership. Here's the truth. They simply don’t care. When push comes to shove, they’ll just get an auto loan.
After all, the World Economic Forum published early this month that “the U.S. labor market is stronger than it has been for more than 50 years.” But here’s where everything gets dicey. Consumers with low credit scores are alarmingly falling behind on their car loan payments.

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Cash Strapped Americans Have Car Loans That Are Like A Second Mortgage As Delinquency Rates Continue to Rise

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