Sub prime auto loans have fueled record auto sales for the past 3 years. The same familiar players that participated in the sub prime home loans are back. Some with their names changed, but not their motives.
The average consumer has a credit score below 570, household income below $35,000 and are paying interest rates above 20%.
Does this mean that we have an auto sales "bubble" similar to the housing bubble fueled by sub prime lending?