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Economics Asked by a SnapAndSolve user · about 2 hours ago

You have been asked to write an essay for or against subprime auto loans. Which of the following contains...

You have been asked to write an essay for or against subprime auto loans. Which of the following contains the best thesis statement and supporting ideas for this essay?

Answer

Thesis statement: Subprime auto loans trap low-income people in a cycle of debt and should be more heavily regulated.

  1. Subprime auto loans are marketed to people who have few resources and desperately need a car to get to work. They have interest rates several times higher than prime loans because borrowers have no choice.
  2. High interest rates mean borrowers pay far more than the vehicle is worth, and long terms mean they often owe for longer than the car lasts.
  3. When a borrower defaults, lenders repossess the car and sue or garnish wages for the balance of the loan. Then borrowers have to take out another subprime loan, because of their need for transportation, and the cycle repeats.

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