Auto Loan Delinquencies Rise to Highest Level in a Decade as Borrowing Costs Rise
Summary by The Daily Caller
Delinquency rates on U.S. auto loans hit their highest level in over a decade as low-income borrowers struggle with the end of pandemic era benefits programs.
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Auto loan delinquencies rise as loan-accommodation programs end
Subprime borrowers in particular are feeling the impact of higher prices for both new and used vehicles.
More Americans Can’t Afford Their Car Payments In Biden’s Economy, Analysts Say
Delinquency rates on U.S. auto loans hit their highest level in over a decade as low-income borrowers struggle with the end of pandemic era benefits programs.
More Americans can't afford their car payments in Biden's economy
(Photo by Joe Kovacs)By John Hugh DeMast
Daily Caller News FoundationDelinquency rates on U.S. auto loans hit their highest level in over a decade as low-income borrowers struggle with the end of pandemic era benefits programs and rising interest rates, CNBC reported Tuesday.Roughly 200,000 auto loans reached 60-day delinquency after pandemic-era loan accomodation programs — intended to prevent those who were laid off during the pandemic from ha…
More Americans Can’t Afford Their Car Payments in Biden’s Economy, Analysts Say - The Ohio Star
by John Hugh DeMastri Delinquency rates on U.S. auto loans hit their highest level in over a decade as low-income borrowers struggle with the end of pandemic era benefits programs and rising interest rates, CNBC reported Tuesday.Roughly 200,000 auto loans reached 60-day delinquency after pandemic-era loan accomodation programs — intended to prevent those who were laid off during the pandemic from having their cars repossessed — lapsed this year,…
