Is the Dam Ready to Break? Auto Delinquency on the Rise

Scary U.S. Auto Loan Debt Numbers Foreshadow Economic Downturn

Rising U.S. Auto Loan Debt a Symptom of Bubble Economics Permeating Society

Auto industry sales have come back from the “Great Recession” grave, but U.S. auto loan debt threatens to relegate the industry to purgatory. Rock-bottom interest rates have allowed consumers to gorge on debt for too long, setting the stage for the auto loan debt 2017 debacle playing out before our eyes. The bill has come due, and the auto industry is bracing for a protracted retrenchment.

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The Next Financial Crisis Might Be in Your Driveway

With late payments on the rise, a dealership upsell begins to look dangerous.

Lured by low interest rates, low gas prices, and a crop of seductive vehicles that are faster, smarter, and more efficient than ever before, American drivers are increasingly riding in style. Don’t be fooled by the curb appeal, though-those swanky machines are heavily leveraged.

The country’s auto debt hit a record in the fourth quarter of 2016, according to the Federal Reserve Bank of New York, when a rush of year-end car shopping pushed vehicle loans to a dubious peak of $1.16 trillion. The combination of new car smell and new credit woes stretches from Subarus in Maine to Teslas in San Francisco.

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Go Green $ave On Fuel Cost

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Detroit Wrecker brings another industry changing product. Proud to announce we are an official Icom dealer. We chose to represent Icom due to the patented Liquid Propane Injection System they use. Not the typical CNG or Vapor Propane Systems we are already used to seeing. This system is radically different.

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Auto Loan Losses at Six Year High – Fitch Ratings

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Banks’ loan losses from car financing have risen to a six-year high, new figures show, as the patchy labour market and the mining slump causes more borrowers to fall behind on their payments.

Fitch Ratings says the proportion of automobile loans that suffered a loss after lenders sought to repossess the vehicle rose to 0.62 per cent in the June quarter, the highest level since the index started in 2010.

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