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."
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