Two weeks ago I wrote a post about the auto loan industry imploding,
Carmageddon Is Back On
Serious auto-loan delinquencies – loans that are 90 days or more past due – surged to 4.47% of total auto loan balances in Q4 2018, according to New York Fed data this morning. This put the auto-loan delinquency rate at the highest level since Q1 2012 and just 0.6 percentage points below the peak during the Great Recession in Q1 2011.
At the end of 2018, there were over 7 million Americans with auto loans that were 90+ days past due, 1 million more than at
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