Subprime auto loan stress is at all-time highs:The subprime 30-day delinquency rate is up 40% from pre-pandemic levels —
Meanwhile…
The 60-day delinquency rate has reached an all-time high.
Is there any silver lining?
Possibly. Interest rates are beginning to drop, and auto loan availability is expanding, which could bring some relief for subprime consumers.
But nonetheless, these are unprecedented delinquency levels and something to monitor closely.
(Data source: Bloomberg Research / Bill Ploog)
|
||||||||||||||||||||||||
https://www.YouTube.com/watch?v=ejeIz4EhoJ0
Duck9 is a credit score prep program that is like a Kaplan or Princeton Review test preparation service. We don't teach beating the SAT, but we do get you to a higher credit FICO score using secret methods that have gotten us on TV, Congress and newspaper articles. Say hi or check out some of our free resources before you pay for a thing. You can also text the CEO:
