Latest Trend: A Record 7 Million Customers At Least 90 Days Late On Car Payment

• The New York Fed said there were over a million more “troubled borrowers” at the end of 2018 than there were in 2010, when unemployment hit 10 percent and the auto loan delinquency rate peaked. Today, unemployment is 4 percent, and many more Americans have jobs, yet a significant number of people cannot pay their car loan.

• Most of the people who are behind on their bills have low credit scores and are under age 30, suggesting young people are having a difficult time paying for their cars and their student loans at the same time.

(source: Mercury News)