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What is Subprime Auto Loan Delinquencies Surge about?

Subprime auto loan delinquencies have hit their highest level since 2010, with approximately 6 million people at least 90 days late on payments. This mirrors behavior seen before the 2007-2009 recession. Weakness in subprime auto loans is impacting auto finance companies and banks with significant subprime exposure. While the majority of auto loans are performing well, subprime loans below a 620 credit score heavily influence rising delinquency rates.

Author

Vidit Harsulkar

Language

EN