US EditionLate car payments hit highest level in decades
- As of January, about 6.5% of subprime auto loans are 60 days past due, marking the highest rate since 1994.
- American households are increasingly facing financial stress, with car payments often taking a backseat to essential expenses.
- The American auto loan debt has reached an all-time high of $1.65 trillion, having more than doubled since 2014, with consumers borrowing larger amounts.
- Experts predict that the situation may worsen due to high inflation and interest rates, impacting lower-income individuals the most.
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20 Articles
20 Articles
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Left
2
Center
12
Right
3
Coverage Details
Total News Sources20
Leaning Left2Leaning Right3Center12Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
12%
C 71%
R 18%
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