Borrowers Pay Sky-High Rates In A Subprime Bubble For Used Cars

Borrowers Pay Sky-High Rates In A Subprime Bubble For Used Cars

Rodney Durham stopped working in 1991, declared bankruptcy and lives on Social Security. Nonetheless, Wells Fargo lent him $15,197 to buy a used Mitsubishi sedan.

“I am not sure how I got the loan,” Mr. Durham, age 60, said.

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