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Marketplace All-in-One

Why buyers have wracked up so much car loan debt

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 26 September 2025

⏱️ 7 minutes

🧾️ Download transcript

Summary

Earlier this month, a company called Tricolor abruptly filed for bankruptcy. The Texas-based firm offered auto loans to buyers with poor (or no) credit ratings. That so-called “subprime” auto market has grown to $80 billion. But Tricolor's collapse could make it harder for some buyers to get car loans. We hear more. Plus, President Donald Trump unveils a new batch of tariffs, and D.C. braces for more economic pain ahead of a looming shutdown.

Transcript

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0:00.0

If you use medicine, sit on furniture, or get stuff delivered by truck, take note of new Trump administration import taxes.

0:10.2

I'm David Brancaccio in Los Angeles. President Trump has unveiled a new batch of tariffs to start the 1st of October.

0:16.9

Medicine, heavy trucks, and household furniture. Marketplaces Nancy Marshall Gensers following this.

0:23.0

In a social media post, President Trump says the U.S. will impose a 100% tariff on imports of any

0:29.6

branded or patented pharmaceutical product. There will be an exception for companies that are

0:34.9

building plants in the U.S., that is, Trump says, if they've broken

0:38.7

ground or a project is under construction. The impact of this import tax isn't clear, though,

0:44.5

since according to the FDA, about 90% of all U.S. prescriptions are filled with generic drugs,

0:51.0

which won't be affected by the new tariff. Trump also announced a 50% duty on cabinets, a 30% import tax on upholstered furniture,

1:00.0

and a 25% tariff on imports of heavy trucks.

1:03.5

All these new duties start October 1st.

1:06.3

I'm Nancy Marshall Genser for Marketplace.

1:09.5

We're talking here four days, 17 hours until a partial federal

1:14.2

government shutdown is possible. Services deemed essential would keep going, but federal workers

1:19.3

wouldn't get paid until the budget impasse is resolved. A shutdown will especially shake the

1:24.5

sixth largest metro area in the U.S., the national capital region that includes

1:29.1

Washington, D.C., home. It's a metro that's home to more than six million people, Marketplace's

1:34.6

senior Washington correspondent Kimberly Adams reports. Between the Doge layoffs and cuts to federal grants

1:40.6

and research, unemployment here in the D.C. area is up six-tenths of a percent year-over-year

1:46.0

as of June. While in very large metro areas as a whole in the country, it's basically flat.

1:53.1

Tracy Haddon Lowe is a fellow at the Brookings Institution and has been tracking the impact of Trump

1:57.9

administration policies in the region. She says the housing market has

...

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