Late car payments data
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Late car payments hit their highest level in decades, alarming economists
One economics professor called car loans the "canary in the coal mine"
https://qz.com/borrowers-feel-the-strain-pushing-auto-delinquencies-h-1851768163
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Didn't you hear?
Treasury Secretary Scott Bessent on Thursday offered a full-throated defense of the White House’s position on tariffs, insisting that, “Access to cheap goods is not the essence of the American dream.”
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Student loan defaults are up as well.
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“High new and used car prices, along with higher auto loan rates, have left a record number of car owners with $1,000+ monthly payments,” Gulley said.
That's pretty bad. I'm not boasting, but I bought a 10-year old car with less than 70k miles on it. 36 month loan, $222/mo.
$1k/mo for a car sounds obscene to me.
