Auto Lending: Last Week Tonight with John Oliver (HBO)
Synopsis
Nearly a quarter of all car loans are now classified as high-risk subprime loans, reaching a 10-year high in the auto lending industry.
People
Synopsis
A woman describes her daily commute, taking two hours on public transportation to reach her job. With a car, the trip would take only 10 to 15 minutes. John Oliver discusses the financial challenges of car ownership, noting that 86% of American workers rely on automobiles. The segment addresses the rise of subprime auto loans, which now account for nearly a quarter of all car loans. It features satirical ads from a fictional dealership that promises loan approval regardless of credit history.
Deep Dive
Why Watch
- See how subprime loans affect car buyers.
- Meet a woman whose commute is two hours without a car.
- Find out why car ownership is crucial for employment.
Did You Know
- 86% of American workers commute by automobile.
- Nearly a quarter of all car loans are subprime loans.
- Subprime auto loans recently reached a 10-year high.
- A woman's commute takes her two hours without a car, compared to 10-15 minutes driving.
Perfect For
Frequently Asked Questions
What percentage of American workers commute by automobile?
86% of American workers get to work by automobile.
What is a subprime auto loan?
A subprime auto loan is a type of loan issued to borrowers with poor credit, and nearly a quarter of all car loans are now of the high-risk subprime variety.
How long can a car loan last according to the segment?
The segment mentions a car loan that can last for 7 years.
What are people saying?
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