America's Car-Mart Ran Out Of Cash, Not Customers, After Wrong Turn On Wall Street

Source: International Business Times

A used car dealership in Laurel, Maryland. Jim Watson/AFP KEY POINTSCart-Mart generated more cash from customers than ever, yet became less able to make new loans because of its financing structure. Post-pandemic rate hikes and rigid securitization structures forced revenues from customers to go straight to bondholders.