Episode 953: Three Sides Of A Car Loan : Planet Money 7 million Americans are at least 3 months behind on car payments. It's a record but is it a crisis? | Subscribe to our weekly newsletter here.
NPR logo

Episode 953: Three Sides Of A Car Loan

  • Download
  • <iframe src="https://www.npr.org/player/embed/781364732/781417080" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Episode 953: Three Sides Of A Car Loan

Episode 953: Three Sides Of A Car Loan

Episode 953: Three Sides Of A Car Loan

  • Download
  • <iframe src="https://www.npr.org/player/embed/781364732/781417080" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Joe Raedle/Getty Images
Rick Case Plantation Hyundai in Plantation, Florida.
Joe Raedle/Getty Images

A record seven million Americans are at least three months behind on car payments. That's when the lender starts thinking about car repossession. Numbers haven't been this high since the worst of the financial crisis and there are a lot of macroeconomic explanations about why they're at these levels.

Today on the show, we focus on the micro part of the story. We follow the lifecycle of a delinquent car loan through three different characters' perspectives: the salesman, the driver, and the repo man.

Music: "Alive For The First Time" and "Like The Ocean."

Find us: Twitter / Facebook / Instagram

Subscribe to our show on Apple Podcasts, Pocket Casts and NPR One.

For more Rashomon-style economic stories, subscribe to our weekly newsletter.