BROWNSVILLE, Texas – A new study showing a number of cities around the Rio Grande Valley with high car debt. Wallethub compared the median auto-loan balance for more than 2,500 U.S. cities. Brownsville, Mercedes, Alamo, and Weslaco were some of the cities with high car debt.
According to the report auto-loans have grown over the past eight years and doesn’t seem to be slowing down anytime soon. Experts recommend customers to check their credit score, create payment plans and timelines before purchasing a vehicle.