How are Americans buying cars they can’t afford? – BBC News

Not so long ago “subprime” was a word to strike fear into the hearts of bankers everywhere.

Risky mortgage lending to people with poor credit ratings – who eventually defaulted on their debt – was the main trigger of the 2008 financial crisis.

But are the banks back to their old ways? Subprime lending is booming once again in the US – not for home loans, but for cars.

Michelle Fleury reports from New York City.

Subscribe http://www.youtube.com/bbcnews
Check out our website: http://www.bbc.com/news
Facebook: http://www.facebook.com/bbcworldnews
Twitter: http://www.twitter.com/bbcworld
Instagram: http://instagram.com/bbcnews

COMMENTA IL POST