Americans Crushed by Auto Loans as Defaults and Repossessions Surge

Re:Americans Crushed by Auto Loans as Defaults and Repossess... by laurentiurad on Monday September 15, 2025 @03:27AM (#45247052)

I am originally from EE and there are reports every month on how cars cause accidents because breaks didn't work, or an entire wheel flies out of its place. Not to mention the gazillion cases of accidents caused by improper headlights.

The only reason the second-hand market works there is because most of the used cars come from Germany, and they have strict laws for checking the cars periodically. Once they roll on the EE roads for a few years, then the cracks start popping up which cause horrible accidents.

Just implying that EE is this amazing place where second-hand cars have no issues and Americans should follow the same model shows that you have no idea what you're talking about.

[ Parent | on HN ]

Re:Americans Crushed by Auto Loans as Defaults and Repossess... by ViewTrick1002 on Monday September 15, 2025 @03:47AM (#45247166)

So the issue isn’t second hand cars but a lack of oversight.

[ Parent | on HN ]

Re:Americans Crushed by Auto Loans as Defaults and Repossess... by nradov on Monday September 15, 2025 @08:56AM (#45249101)

It depends on the country but some eastern European countries require an annual car inspection as part of registration. They check for basic stuff to ensure it's not falling apart. Thoroughness varies, and some inspectors can be bribed.

[ Parent | on HN ]