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As investors worry about a recession on the horizon, a record 7 million Americans have stopped paying their car loans. Here's why.
Why are auto-loan defaults surging, and does it pose a broader economic threat that warrants concern? The picture is complicated, but peeling back the data provides some answers — and suggests ...
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Late car payments hit highest level in decades
Americans are missing their car payments at the highest rate in more than 30 years, data shows. According to Fitch Ratings, 6.56 percent of subprime auto borrowers were are at least 60 days past due ...
Late car payments rise to highest level in over 30 years
The percentage of borrowers with subprime car loans at least 60 days past due rose to the highest level since at least 1994 in January amid high car prices and elevated interest rates.