Auto-loan delinquencies are the highest since 2012

The latest monthly auto-loan data from the Fitch Auto ABS Index showed something very troubling: subprime delinquencies 60 days or more past due on the secondary market rose to 5.76% in February, the highest theyâ€.....»»

Tuesday’s top personal finance stories.....»»

Nearly $66 billion of the $1.33 trillion in outstanding auto loans were over 90 days delinquent in the fourth quarter of 2019, up from $57 billion for the same period last year......»»

Friday’s Personal Finance Stories......»»

Subprime auto bonds with “junk” BB-ratings are fetching yields of only about 3.5%, versus 9% four years ago, even though late-stage auto loan delinquencies are piling up......»»

In the Federal Reserve's second-quarter report on household debt and credit, a rise in auto loan delinquencies was identified, resparking an old conversation regarding subprime auto financing by lenders like Credit Acceptance Corp. (NASDAQ: read more.....»»

Authored by Wolf Richter via WolfStreet.com, But what will happen to banks and automakers when the cycle turns? Serious auto-loan delinquencies – 90 days or more past due – jumped to 4.69% of outstanding auto loans and leas.....»»

Despite a strengthening economy, more Americans are unable to make auto loan payments......»»

Student loan debt in the U.S. now totals more than $1.5 trillion, more than both credit card and auto loan debt, and recent research has shown that the crisis isn't only worse than we thought — it's getting worse. The percentage of students who .....»»

When car loan delinquencies rise, it is usually a sign of significant duress among low-income and working-class Americans......»»

The nation's farmers are struggling to pay back loans after years of low crop prices and export markets hit by President Donald Trump's tariffs, with a key government program showing the highest default rate in at least nine years......»»

Borrowing to purchase or lease a new or used vehicle reached a record-high average monthly payment level in the fourth quarter of 2018. Rising vehicle prices and interest rates combined to push the........»»

According to market researcher Cox Automotive’s most recent quarterly dealer sentiment survey, franchised dealers’ feelings about profits are at the highest level in years......»»

There are 100,000 certified medical marijuana patients in Massachusetts, the highest number of patients using medical marijuana since the drug was legalized for medical purposes in 2012.  The number of patients using medical marijuana has grow.....»»

The state has until March to figure out a solution or convince the feds to forgive the loan before the bill comes due at the highest possible tax bracket......»»

Nationwide, economists expect to see increases in serious delinquencies as high as four-fold by the second half of 2021......»»

Associated Press   The average auto loan interest rate in the last quarter of 2019 was 5.76% for a new car, and 9.49% for a used car, according to Experian data.  Auto loan interest rates vary by the buyer'.....»»

Nationwide, economists expect to see increases in serious delinquencies as high as four-fold by the second half of 2021. Here's how Phoenix stacks up in the overall equation......»»

“The money is going to be out of here faster than a Cheeto on a salad bar," a small business owner told his banker in his unsuccessful effort to create a sense of urgency in processing his PPP loan. He turned to another lender......»»

Gold futures on Wednesday end at their lowest in a week, snapping .....»»