
How Car Loans are Shaping your Credit and the Economy
For shoppers with poor credit (scores below 600), the dream of driving off the lot is becoming more distant—and far more expensive.
According to Experian, subprime and deep-subprime borrowers now face interest rates as high as 15–21% on used vehicles. Even with lower-priced cars, that can mean monthly payments over $600, with more than half of that going to interest alone.
