Auto Loan Delinquencies Rise to Highest Level in a Decade as Borrowing Costs Rise

More Americans Can’t Afford Their Car Payments In Biden’s Economy, Analysts Say

Auto Loan Delinquencies Rise to Highest Level in a Decade as Borrowing Costs Rise

The number of Americans failing to pay their auto loans has risen to the highest level in a ...

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,…

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

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.

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.