Why are auto loan delinquency rates currently rising faster than credit card delinquencies?
Replied byCathie Wood
Founder, CEO & CIO at ARK Invest
Niche: Finance
Revenue: Not Publicly Disclosed/month
Location: St. Petersburg, Florida, United States
Started: 2014
Since ride-sharing services like Uber and Lyft are prolific in cities, consumers no longer depend on personal cars for transportation. As a result, they are willing to let their cars be repossessed while prioritizing credit card payments instead.
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