Rising Car Loan Defaults and Repossessions Signal Growing Auto Credit Risks
TL;DR
The share of risky subprime borrowers at least 60 days behind on auto loans has reached a record high of 6.65% in October, driven by inflation, rising interest rates, and economic pressures, signaling economic weakness and increasing financial strain on consumers.
Topics:businesseconomy#auto-loan-rates#car-loans#delinquencies#economy#subprime-borrowers#us-economy
- Car Loan Delinquencies Hit Record For Riskiest Borrowers Bloomberg.com
- Record number of subprime borrowers miss car loan payments in October, data shows Reuters
- Car loan delinquencies are surging. Here's what to do if you're falling behind. Yahoo Finance
- Subprime auto loans fall as lenders tighten credit in Q3 Wards Auto
- Car repossessions are up 43%. Here’s what to do if it happens to you. | Bankrate
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