Longer loans seen backfiring on U.S. automakers

Newswire

DETROIT, March 25 (Reuters) - A growing reliance on longer loans to help spur new-vehicle demand could soon start backfiring on Detroit's automakers, a leading industry research firm said on Thursday. The Power Information Network, an affiliate of J.D. Power and Associates, said the problem is that an increasing number of potential car buyers are finding that they owe more on their trade-in vehicles than they're actually worth. Known as an "upside-down" situation, it's a trend that may ...

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