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Fox Business’ Jeff Flock, the latest news from the automotive industry, increased more than a year.
Payments missed on automatic loans American car owners The beginning of this year increased to the highest level in three decades.
According to Fitch ratings, the percentage of borrowers with subprime car loans with at least 60 days for past car loans in January is at a high level of 606%.
Subprime’s share of 60 days Automatic loan borrowers For the first time since August 2024, it was 6% over the first time after breaking 6% limit. Previously, 1996 and 6% approached the sign in 2023.
As the increase in the number of borrowers fighting auto loans, consumers tense of American budgets as the US economy continues to fight in recent inflation. Higher interest rates aimed at bringing inflation, added new auto loans to borrowers.
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Fitch ratings reports that the subprime auto loan violations rose to a record level in January. (Brandon Bell / Getty Images / Getty Images)
Last Analysis Federal reserve The New York Bank has found a steady increase in auto loan balances since 2011 and in 2024 in 2024 in 2024.
“Approximately all borrower groups, the rates of evil, they saw that the pandemic levels.” Borrowers with credit scores between 620 and 679, in 2024, they have seen that about 2% of about 2% of about 2% before the pandemic, he said.
The report “in terms of home debt views in terms of home debt landscape” problems related to solid performance and domestic loans, “they are in very good condition in terms of home debt views.”
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There are borrowers with high car prices and rising interest rates car loans. (GRIDGET Bennett / Bloomberg Getty Imager / Getty Images)
“However, higher car prices for auto loans have made higher payments with higher interest rates and put pressure on consumers along the income and credit score spectrum,” he said.
“The rapidly rising car prices have heterogeneous effects on the episode of car prices, and borrowers between new cars and borrowers. These changes were attached to lower income and Low credit account borrowers In the past few years, higher-valued cars may have to prefer higher-used cars, “economists wrote.
“Used car prices have been off the peak, potentially refused to create borrowers and potential payment problems under water.
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This New York Fed Among all the borrowers of auto loans in February, the share of borrowers, which pays at least 90 days before at least 90 days, reached 3% in the fourth quarter of 2010.
