As inflation slogs on, the repo man is working overtime
December 19, 2022
Car repossessions fell the early months of the pandemic because borrowers took advantage of stimulus checks and got more slack from sympathetic lenders, but the inflation of the last year has reversed the trend, sending repo rates to highs not seen since 2019. “These repossessions are occurring on people who could afford that $500 or $600 a month payment two years ago,” said Ivan Drury, director of insights at Edmunds, “but now everything else in their life is more expensive.”
Recent News
Tesla’s Supercharger Shake-Up Leaves Uncertainty
Tesla’s recent layoffs have raised questions about the future of its Supercharger network. With close to 500 workers cut, including key figures, Tesla’s move signals a significant shift in its charging strategy. This decision comes amidst CEO Elon Musk’s ongoing efforts to streamline operations.
Formula One Gets Boost in Miami Merchandise Sales
J.P. Morgan Payments steps up to manage transactions for Formula One merchandise during the Miami Grand Prix, on-site and online.
Vodka Introduces New Spirit From Outer Space
In the realm of spirits, innovation is often the key to standing out amidst a sea of familiar flavors. Enter Shooting Star Vodka, a groundbreaking concoction that defies convention with its infusion of a truly extraterrestrial ingredient: a meteorite discovered in 1977. This celestial addition has transformed the humble vodka into a cosmic elixir, promising drinkers a taste experience unlike any other.
Survey Reveals Britain’s Favorite Breakfast Cereal
When it comes to breakfast cereals in Britain, one particular brand has managed to carve out a niche for itself: Crunchy Nut corn flakes. Despite its high sugar content, this classic cereal has been dubbed Britain’s favorite, a title it has held for almost 50 years. Originating from the Kellogg’s factory in Trafford Park, Manchester, in 1980, these corn flakes, enhanced with honey, molasses, and peanuts, exceeded initial sales projections by threefold within the first three months.