Gina Heeb

speaker

171 appearances 4 recordings 1 series first heard Feb 2023 last heard Jan 2025

Gina Heeb’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

Appearances

newest first · ▶ plays the moment

WSJ Your Money Briefing · More People Are Paying Car Loans Late, Raising Concerns About Credit · 21 Feb 2023 podcast

So borrowers had these really big loans that were made in 2021, and they've had those for a couple of quarters now.

With inflation and high interest rates pressuring them elsewhere, those big payments can be really painful for them now.

That's a great point.

So these car prices peaked at a time when borrowers were doing really well.

As I mentioned, they had all of this extra cash from government stimulus.

They were also cutting back on spending.

Stocks were up quite a bit and the job market was still doing really well as it is now.

So that boosted their credit scores, which may have made the underwriting process a little bit less precise for lenders.

So lenders, the main thing that they look at is credit scores, among other things.

But consumers had maybe a bit higher of scores than they have now or that they would have had without the stimulus or without the other strange things that were happening in the pandemic economy.

So lenders were able to make these really big loans to borrowers, sometimes putting them in credit situations they wouldn't have otherwise been in.

Right.

For some people, losing a car definitely means losing their ability to work.

I recently spoke to someone in a rural area who couldn't get to work after she lost her car and she was fired.

So without a job, she also couldn't afford a new car.

That means her options to find work are pretty limited right now.

And it can be a pretty hopeless situation for some.

It's a vicious cycle that's really difficult to get out of.

So right now, it's not a super concerning situation for economists.

That's because, as I mentioned, it's important to remember that these delinquency rates are just returning to more normal levels after a really unusual pandemic economy.

Showing 141–160 of 171 · page 8 of 9