Auto Loan Delinquencies Reach Record High
The share of auto loan balances that are 90 or more days past due has risen to 5.6 percent, the highest level recorded. Officials at the New York Fed reported the figure.
cnbc.comThe share of auto loan balances that are 90 or more days past due reached 5.6 percent, the highest level on record.
The figure covers balances that remain unpaid for at least 90 days. The same data source has tracked this metric over multiple years.
delinquency rates can affect both lenders and borrowers.
No additional policy actions were announced in the report.
Key Facts
Potential Impact
- 01
Lenders may adjust underwriting standards for new auto loans.
- 02
Some borrowers could face higher interest rates or stricter credit checks.
Transparency Panel
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