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Auto Financing Crisis Hits Dealerships | Durham News
Car payments hit a record $777 a month, with 20% of buyers paying over $1,000 — forcing longer loans and crushing debt. Used cars aren’t much better, with financing rates over 10% and sky-high for bad credit. Dealerships are collapsing too: America’s Car-Mart shut 60 stores (40% of its network) and issued a “going concern” warning, signaling possible bankruptcy. Despite promises to keep servicing existing loans, the company’s financial meltdown threatens vehicle access — especially for rural, working-class Americans already struggling with auto affordability. Listen in comfort:Get a discount…
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