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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US car payment delinquencies reach 33-year high: Analysis
·Washington, United States
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NewsNation+10 Reposted by 10 other sources
Late car payments hit highest level in decades
Americans are falling behind on their monthly car payments at the highest rate in more than 30 years.
·Chicago, United States
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Coverage Details
Total News Sources29
Leaning Left3Leaning Right4Center16Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
13%
C 70%
R 17%
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