1st Gear: Used Cars
Used car prices have spiked for months because of low new car inventories, itself because of the chip shortage that has gripped the industry. This is not news, though the accounting firm KPMG said in a new report that prices have gotten so far out of whack that negative equity is now an issue, and likely will be in the future, too. Basically, if you took out a loan to buy a used car in the past year or so, you might owe more than your car is worth.
From Automotive News:
The used-car market has historically been closely correlated with the new-car market, KPMG global head