Younger Borrowers Falling Behind in Car Payments
Jerry research reveals their delinquency rates rival those of the financial crisis of 2008 and 2009.
Jerry research reveals their delinquency rates rival those of the financial crisis of 2008 and 2009.
S&P Global Mobility reports auto loan delinquency exceeded recession-era highs in the first quarter.
Recent data points to more auto borrowers struggling to keep up with loans, but default rates remain below pre-pandemic levels.
SCHAUMBURG, Ill. — Experian Automotive reported today that outstanding automotive loan balances totaled $968 billion in the third quarter. That’s up $98 million from a year ago and up more than 53% from the post-recession low in 2010. The firm noted that while outstanding balances have grown substantially, borrowers continue to keep the market stable ... Read More »
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