Auto Loan Delinquencies Jump 50% as Car Prices Reach New Heights

The article discusses the significant rise in auto loan delinquencies, which has increased by more than 50% over the past 15 years. This trend is attributed to the soaring prices of cars and the increasing interest rates. The article notes that car loans, once considered among the safest consumer credit products, have now become one of the riskiest due to this surge in delinquencies. This shift reflects the financial strain that many consumers are facing when it comes to affording their vehicle purchases. The article highlights the challenges posed by the high costs of cars and the impact on consumer debt and payment patterns. It suggests that the combination of rising prices and interest rates has created a challenging environment for individuals seeking to purchase and finance their vehicles.
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