In September, subprime auto borrowers recorded the highest delinquency rate in history at 6.1%, surpassing levels seen in 1994 and 2008.

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As Americans grapple with average monthly payments of $500 for student loans and $740 for new cars, resulting in the average American spending a staggering $1,240 each month just to finance a car and manage student debt, with delinquency rates expected to keep climbing.

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