Subprime Auto Loan Delinquencies Hit Record High 6.56 Percent
by Mike Shedlock As borrowers struggle to keep up with car payments, auto lenders offer payment extensions to keep those loans from going bad. Car Dealership Guy reports Auto Lenders Increasingly Turn to Payment Extensions. Payment Extension Trap 60+ day auto loan delinquencies in the subprime cohort (less credit-worthy borrowers) hit 6.56% in December 2024—the highest …