Automobile loan delinquencies in the United States are starting to jump higher as we see overall auto loan delinquencies jump to the highest levels since 2012 while subprime auto loan delinquencies are performing even worse with late payments spiking to the highest since 2010! The too-big-too-fail banks are again leading the charge of lending to borrowers with lower credit scores while credit unions and smaller banks are being more cautious with lending to subprime borrowers. Some banks are making subprime loans at over 20%, the profit spread is too good to pass up, especially when the taxpayers are ultimately there to bail-out corporations with that engage in careless lending.
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