More People Continue To Miss Their Car Payments As Rates Climb
Record Number Of People Have Payments Higher Than $1,000/Mo...
In a concerning turn of events, the auto industry is witnessing a surge in delinquencies among subprime borrowers, signifying economic distress and financial strain for a significant portion of the population. According to recent figures from Fitch Ratings, a record-breaking 6.11% of subprime borrowers were more than 60 days behind on their auto loan payments in September 2023. This startling statistic marks the highest delinquency rate since records began in 1994, and it has climbed steadily from 5.93% at the beginning of the year.
More People Continue To Miss Their Car Payments As Rates Climb
In a concerning turn of events, the auto industry is witnessing a surge in delinquencies among subprime borrowers, signifying economic distress and financial strain for a significant portion of the population. According to recent figures from Fitch Ratings, a record-breaking 6.11% of subprime...
moparinsiders.com
Last edited by a moderator: