A conundrum.

Earlier in the year, “jingle mail” was the term I was seeing everywhere to describe people who don’t make payments on their mortgage, and instead just mail the keys to their lenders. It’s most commonly associated with the idea that they owe more on their house than it is worth, so they may as well just give it up and move on.

Why don’t they do this to their cars? Most people are aware that if they have a standard car loan, they will owe more than it’s worth just by driving the car away from the dealership. Why don’t those keys end up at banks everywhere?

 

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