How Rising Rates of Auto Debt Point to Increasing Economic Inequality
βTo live and work in much of the United States, access to a car is virtually a requirement. Jobs, shops, doctors, and daycare are often unreachable by transit, and too far by foot or bike. Owning a car, the research shows, means your life is likely to be more stable and your bank account more flush. Unless you’re among the growing number of Americans who own a car that they can’t afford, and who are now drowning in the debt.β