Thursday, 14 February 2019

Auto-Loan Delinquencies Are The Highest Since 2012

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The percent of auto loans in serious default rose to the highest level in almost seven years in the last three months of 2018, as consumers with weak credit struggled to make payments despite a strong U.S. economy and tight labor market.

Auto loans delinquent more than 90 days rose to 4.47 percent of the total in the fourth quarter, the highest since the period ended in March 2012, and up from 4.05 percent a year ago, according to Federal Reserve Bank of New York data.

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