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.

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

One thing to keep an eye on, though, is that unemployment is still really low.

Without job losses, we're still seeing these tick up because of the inflation and because of high rates.

So one thing that economists and analysts are watching is how much these might rise if unemployment goes off and people start to lose their jobs.

Another thing to watch is car prices are on the decline right now, which can be a problem for borrowers who took out these really big loans.

It can lead to the situation where they are underwater, meaning they owe a lot more than their cars are worth.

And that can also stick lenders with big losses when a borrower falls behind.

So if you owe more than your car's worth, that can put you in a really difficult spot.

If you want to resell the car, you won't even break even on it.

Or if you fall behind on payments and the car ends up being repossessed, you can sometimes owe the lender the difference between the loan amount and what they are able to auction it for.

Or if the lender has to eat that loss, that can be bad for banks when it happens widely.

Thanks for having me, Danny.

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