Undercover Investigation Exposes Deteriorating Auto Lending Standards In Europe; No Job, No Problem
Over the weekend we wrote a note about how the European auto lenders are becoming just about as ridiculously undisciplined as their counterparts in the United States. Apparently an ever-growing reliance of European millennials on lease financing has auto ABS investors worried about a potential crash in used car prices at some point in the not so distant future...that sound familiar to anyone?
But a new undercover investigation by the Daily Mail exposes just how "undisciplined" the auto lending market has become in England. Here are the headlines: