Increase in Americans Missing Auto Loan Payments

Americans are increasingly falling behind on auto loan payments, with delinquency rates rising over 50% in 15 years, reaching 3.8% in June 2024—the highest since 2010. Contributing factors include soaring car prices exceeding $50,000, average monthly payments rising to $600, and high interest rates, alongside broader economic pressures like inflation and unstable employment.

Want More Context? 🔎