Aug 15 2020
Subprime Auto Nation: American Households now Carry $1.34 Trillion in Auto Loans on an Asset that Depreciates While Covid-19 Creates Demand Destruction.
America is literally driving itself into debt. US households now carry a stunning $1.34 trillion in automotive debt. What is troubling about this is the amount of driving taking place has plunged courtesy of Covid-19 and much of our economy is built around driving. People take the morning and evening commute, and this was seen […]
Mar 26 2017
Subprime auto loans face mounting problems: With $1.1 trillion in loans outstanding we all know bad deals are made in good times.
Exuberance breeds bad decisions as inhibitions and due diligence get tossed out the window like dirty water.  This is exactly what is unfolding in the rampaging auto market. The latest data from Fitch Auto ABS Indices shows that 60+ day delinquencies for subprime loans are now at 5 percent of all outstanding balances. This is […]