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Outstanding auto-loan balances just hit a new record and delinquencies are on the rise — should you be concerned?

Nearly $66 billion of the $1.33 trillion in outstanding auto loans were over 90 days delinquent in the fourth quarter of 2019, up from $57 billion for the same period last year......»»

Category: topSource: marketwatchFeb 21st, 2020

Outstanding auto-loan balances just hit a new record and delinquencies are on the rise — should you be concerned?

Nearly $66 billion of the $1.33 trillion in outstanding auto loans were over 90 days delinquent in the fourth quarter of 2019, up from $57 billion for the same period last year......»»

Category: topSource: marketwatchFeb 21st, 2020

Personal Finance Daily: Outstanding auto-loan balances just hit a new record and delinquencies are on the rise and what to make of Morgan Stanley’s acquisition of E-Trade

Friday’s Personal Finance Stories......»»

Category: topSource: marketwatchFeb 21st, 2020

A record 7 million Americans are 90 days late on their auto loan payments, an economic red flag

When car loan delinquencies rise, it is usually a sign of significant duress among low-income and working-class Americans......»»

Category: topSource: washpostFeb 12th, 2019

Analysis: Santander Share Buybacks Come Alongside Rising Auto Loan Delinquencies

In the Federal Reserve's second-quarter report on household debt and credit, a rise in auto loan delinquencies was identified, resparking an old conversation regarding subprime auto financing by lenders like Credit Acceptance Corp. (NASDAQ: read more.....»»

Category: blogSource: benzingaOct 14th, 2019

Auto-Loan Delinquencies Spike To Q3 2009 Level, Despite Strongest Labor Market In Years

Authored by Wolf Richter via WolfStreet.com, But what will happen to banks and automakers when the cycle turns? Serious auto-loan delinquencies – 90 days or more past due – jumped to 4.69% of outstanding auto loans and leas.....»»

Category: blogSource: zerohedgeMay 17th, 2019

How Wall Street Banks "Masked" A Record $350 Billion In Subprime Exposure

The latest monthly auto-loan data from the Fitch Auto ABS Index showed something very troubling: subprime delinquencies 60 days or more past due on the secondary market rose to 5.76% in February, the highest they.....»»

Category: blogSource: zerohedgeApr 20th, 2018

Auto Loan Delinquencies Up on Record-High Monthly Payments

Borrowing to purchase or lease a new or used vehicle reached a record-high average monthly payment level in the fourth quarter of 2018. Rising vehicle prices and interest rates combined to push the........»»

Category: blogSource: 247wallstFeb 28th, 2019

Market Extra: Cracks in the $1.3 trillion auto-finance market aren’t curbing investor demand for risky debt

Subprime auto bonds with “junk” BB-ratings are fetching yields of only about 3.5%, versus 9% four years ago, even though late-stage auto loan delinquencies are piling up......»»

Category: topSource: marketwatchFeb 19th, 2020

Subprime Auto Loans Explode, "Serious Delinquencies" Spike To Record

Subprime Auto Loans Explode, "Serious Delinquencies" Spike To Record Authored by Wolf Richter via WolfStreet.com, Nearly a quarter of all subprime auto loans are 90+ days delinquent. Why?.....»»

Category: blogSource: zerohedgeFeb 13th, 2020

China Auto Sales Post First Tepid Rise In A Year, But Only After Massive Discounts

Passenger car vehicles in China finally showed the first tepid sign of recovery after a historic and record-breaking plunge in the country over the last two years, according to The Business Times and preliminary data from t.....»»

Category: blogSource: zerohedgeJul 8th, 2019

Auto loans hit record, pushing payments to all-time highs

People buying a new vehicle continue pushing the envelope, borrowing more and, on average, paying more each month for their auto loan......»»

Category: topSource: moneycentralJun 6th, 2019

Auto loans hit record, pushing payments to all-time highs

People buying a new vehicle continue pushing the envelope, borrowing more and, on average, paying more each month for their auto loan......»»

Category: topSource: moneycentralJun 6th, 2019

Auto loans hit record, sending many borrowers to used market

People buying a new vehicle continue pushing the envelope, borrowing more and, on average, paying more each month for their auto loan......»»

Category: topSource: moneycentralJun 6th, 2019

Auto loans hit record, sending many borrowers to used market

People buying a new vehicle continue pushing the envelope, borrowing more and, on average, paying more each month for their auto loan......»»

Category: topSource: moneycentralJun 6th, 2019

Colleges Encourage Some Alumni to Postpone Payments on Loans

The practice allows the schools to skirt regulatory oversight while causing the student-loan balances to rise, a Government Accountability Office report said......»»

Category: smallbizSource: wsjApr 26th, 2018

Wells Fargo faces $1-bn fine from regulators for auto, mortgage loan issues

(Reuters) - Wells Fargo & Co has been offered a penalty of $1 billion by regulators to resolve outstanding investigations related to auto insurance and mortgage lending abuses, the third-largest U.S. bank by assets said on Friday......»»

Category: topSource: business-standardApr 13th, 2018

Wells Fargo faces $1 billion fine to settle loan abuses

Regulators have offered Wells Fargo & Co a penalty of $1 billion to resolve outstanding investigations related to auto insurance and mortgage lending abuses, the third-largest U.S. bank by assets said in its first quarter results on Friday......»»

Category: topSource: moneycentralApr 13th, 2018

Wells Fargo faces $1 billion fine to settle loan abuses

(Reuters) - Regulators have offered Wells Fargo & Co a penalty of $1 billion to resolve outstanding investigations related to auto insurance and mortgage lending abuses, the third-largest U.S. bank by assets said in its first quarter results on Friday......»»

Category: topSource: reutersApr 13th, 2018

He had $55,000 in student loans, now he owes $330,000

Outstanding student loan debt in the U.S. has tripled over the last decade and now stands at almost $1.5 trillion — in part because many people are seeing their individual balances spiral out of control......»»

Category: topSource: moneycentralMay 6th, 2018

Credit Card Delinquencies Spike Past Financial-Crisis Peak

Authored by Wolf Richter via WolfStreet.com, Subprime is calling... In the first quarter, the delinquency rate on credit-card loan balances at commercial banks other than the largest 100 – so at the 4,788 smaller banks in the .....»»

Category: blogSource: zerohedgeMay 19th, 2018