Last Week Tonight: Auto Lending (August 14)

Over the past couple of years, Last Week Tonight with John Oliver has shed a lot of light on the various predatory practices that target poor people and contribute to making it difficult to get and stay out of debt. Past stories have focused on debt buyersmunicipal violations, and payday loans. This week John took a look at the auto industry, in particular the trend towards sub-prime auto loans, and the scary ways the prevalence of these types of loans reflects the sub-prime mortgage bubble that caused the 2008 recession. As usual, John used the experiences of real people to help to drive his point home and demonstrate the ways that bad auto loans can have a snowball effect on people’s financial futures. And, in the end, he enlisted the help of Keegan-Michael Key and Bob Balaban to create his own advertisement for auto loans (from “Crazy Johnny’s”) that’s just a little bit more truthful than the others.

 

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