Trump's Hated $23 Billion in Migrant Cash Unlocks Mexican Credit
- Remittances will allow Mexicans to get car loans from Nissan
- Lack of credit history is preventing millions from borrowing
Cars move along a highway in Aguascalientes, Mexico, on March 16, 2009.
Photographer: David Rochkind/Bloomberg NewsThis article is for subscribers only.
Millions of Mexicans pay for everything from food to medicine with cash from relatives working in the U.S. Now, the money may allow them to get car loans in a country where a large swath of the population has no access to credit.
Japan’s Nissan Motor Co. and its local financing arm said this month they will start granting loans to Mexicans who use their family in the U.S. as co-signers and who can show they get remittances on a regular basis.