Rising Car Loan Delinquencies in America | TPTS

Automobile repossessions are climbing as inflation forces struggling consumers to make tough choices. Late car payments by subprime borrowers rose to 5.67% in Dec, up from 2.58% in Apr 2021, and similar to the peak in Jan 2009 during the Great Recession. Higher interest rates of 8.02% in Dec, up from 5.15% a year earlier, are making it harder to make monthly payments for car loans.

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