Car payment defaults hit 29-year high as borrowing costs surge

23-10-2023 Business NY Post - Business 46

Inflation-squeezed Americans are defaulting on their auto loans at levels not seen in nearly three decades as record-high borrowing costs threaten to price many Americans out of the market. The percentage of subprime auto borrowers at least 60 days past due on their loans rose to 6.11% in September — up from a previous high...

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