Three Sides Of A Car Loan

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 20 November 2019

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

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.

Transcript

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0:00.0	This is Planet Money from NPR.
0:09.5	This seems like a pretty nice neighborhood.
0:12.6	Every house here, the lights are all out, people are asleep.
0:17.0	And we're sneaking up quietly on the car.
0:20.0	Larry Baker is a repo man.
0:22.6	We're crammed in a surprisingly small tow truck, creeping through the suburbs in Ohio.
0:27.5	Tonight, Larry's job is to find and repossess a black Chevy cruise.
0:32.7	The person who bought that car is about six payments behind and the finance company
0:37.4	wants its car back.
0:39.2	It's right there.
0:41.3	What's that?
0:42.3	It's right there.
0:43.3	Okay.
0:44.3	Let me see.
0:45.3	I thought I'd see the lights on here.
0:47.2	We pull up till like a charming little house.
0:49.2	It's a little garden, there's a couple of bird feeders in the yard.
0:52.7	The Chevy is sitting right in the driveway.
0:55.8	The house is totally dark.
0:57.2	What time is it?
0:58.2	It's about one in the morning.
0:59.2	Yeah, I'm not going to knock on the door.
	...

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