the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
Nov 11, 2024
Nearly one out of four car owners is “under water.” They owe more on their car loan than their car is worth. Why? Car prices are up, averaging $28,000 for a used car, and $47,000 for a new car. Interest rates are up, averaging 11.2% for a used car, and 7.1% for a new car. And car loans are longer, like six years. So, our car’s resale value goes down faster than we can repay our loan. Who wins? The banks!