Reported 9 days ago
Auto loan delinquencies in the U.S. have surged over 50% since 2010, becoming the riskiest consumer credit product due to skyrocketing car prices, higher maintenance costs, and elevated interest rates. With Americans carrying over $1.66 trillion in auto debt, many are struggling to keep up with payments, especially as lending standards have loosened. The current financial climate indicates increasing challenges across the consumer economy, suggesting that the auto market is a key indicator of household financial health.
Source: YAHOO