MASS DELINQUENCIES AHEAD: People Can’t Pay Their Car Loans

Rising auto delinquencies can be an indication of economic trouble. As borrowing costs increase, including rising interest rates, consumers may be unable to keep up with payments. This is especially true if they have spread their debt over a longer period of time to make the payments more manageable.

As interest rates are rising, this is putting pressure on borrowers and now data shows many are unable to pay back. Some car companies are liquidating inventory.

This is a sign that the economy may be cooling off, as these delinquencies could be an indication of a weakening consumer base.

TOPICS AND TIMESTAMPS:
Car Crash 0:00
Real Estate and Rates 8:56

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