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TRUCK LOAN DEFFAULTS * USA - Repossessed car, trucks spiraling up
Raleigh,NC,USA -BND.com, by LORENZO PEREZ -9 Aug 2008: -- In the middle of the night, the diesel rumble of Steve Mozingo and Brandon Taylor's trucks prompts excuses for why the car payment is past due and driveway pleas for more time... And in the current economic slowdown, there are a lot more excuses for the two drivers from Lizard Lick Towing & Recovery. Repo men across the country are towing away a steadily growing number of cars and trucks from owners who have fallen behind or defaulted on their loans... As many as 1.6 million cars and trucks may be repossessed nationally this year, the most in at least a decade, according to the Manheim wholesale vehicle auction service, which touts itself as the country's largest... Large banks have yet to report a large increase in car loan defaults, but the anecdotal evidence is growing among smaller lenders and repossession companies such as Mozingo and Taylor's employer...
Labels: truck loan defaults
posted by Unknown @ 12:10 PM
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