Detroit, MI, 30 September 2016 – The delinquency rate on subprime auto loans rose in August, and a credit rating agency that monitors the market said the trend likely will continue through the rest of 2016 as prices of used cars continue to fall.
The delinquency rate has been trending upward throughout 2016 and now approaches peak levels seen in late 2008 and early 2009.
Read More!
More Stories
Auto Lending Accelerates as Borrower Credit Quality Slips
After the Repo: When Does a Credit Union Finally Admit the Loss?
Auto Lending Is Moving Down the Credit Risk Ladder – Collections and Repo May Follow
Holmes Motors to Pay $137,000 Over Alleged Violations of Servicemembers’ Vehicle Lease Rights
Credit Unions Can Now Share More Fraud Intelligence Than Ever Before
Feds Charge 83-Year-Old Woman in Alleged $10 Million Auto Lending Ponzi Scheme