Wednesday, February 10, 2016

It Looks Like The Automobile Financing Bubble Is About To Burst

Is The Party Over? Record Number Of New Car Buyers Are Behind 60 Days Or More On Car Payments

More expensive loans aren’t the only reason for automakers to worry, industry analysts are warning.

There are signs that more consumers are having trouble handling the loans they’ve already taken out.

With a record number of Americans buying new vehicles last year, lenders logged a record amount of debt on their books. And a growing number of those buyers are falling behind on payments, according to Experian Automotive. While 30-day delinquencies are actually down, the number of motorists two months behind on payments grew sharply.

(AutoSpies.com)

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