America’s Car-Mart considers a sale as inflation hits subprime borrowers

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Used-car dealer and subprime auto lender America’s Car-Mart is in talks with lenders about a sale to keep the company operating, but no decision has been made. The transaction could proceed through a Chapter 11 process or a shareholder vote; the company has defaulted on a $300 million term loan, and the forbearance granted by lenders ends Thursday (Oct. 22). High inflation and interest rates are also making it harder for customers to make payments.