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People have stopped paying their car loans, and it's a risk to a $200 billion market - Business Insider

Business Insider

People have stopped paying their car loans, and it's a risk to a $200 billion market
Business Insider
New research from the New York Federal Reserve found a spike in the delinquency rate for subprime loans originated by auto finance companies. "Although the impact on the larger financial sector may be muted, there are over 23 million consumers who hold ...
6.3 million Americans are 90 days late on their auto loan paymentsWashington Post
US Household Debt Reaches Record $13 Trillion: Watch Subprime Auto LoansForbes
Subprime car loans souring faster at nonbank lendersAmerican Banker
Bloomberg -Liberty Street Economics - Federal Reserve Bank of New York
all 16 news articles »

Could UK car dealers escape the worst in 2018's economy? - AM-online

AM-online

Could UK car dealers escape the worst in 2018's economy?
AM-online
In a climate where household debt levels as a proportion of national income have surged back to 137% over the past two years – households having racked up unsecured debts of £203 billion on credit cards, car finance, overdrafts and other loans ...


Sunderland men cleared over car loan fraud allegations - Sunderland Echo

Sunderland Echo

Sunderland men cleared over car loan fraud allegations
Sunderland Echo
Four men accused of fiddling car loans have been cleared after the alleged victims told a jury they didn't regard the claimed frauds as serious. Asa Dobbing, his brother Aidan Dobbing, their father Thomas Dobbing, and Leslie Brooke were alleged to have ...


Banks are making it harder to get a car loan — and it spells trouble for the auto industry - Business Insider

Business Insider

Banks are making it harder to get a car loan — and it spells trouble for the auto industry
Business Insider
Banks are further tightening their lending standards for prime and subprime auto loans. This process started in Q2 2016, when auto lending had reached the apogee of loosey-goosey underwriting that had boosted sales of new and used vehicles to record ...


Car Loans Are Getting Longer and Costlier | News | Car and Driver ... - Car and Driver (blog)

Car and Driver (blog)

Car Loans Are Getting Longer and Costlier | News | Car and Driver ...
Car and Driver (blog)
Even as auto lending has generally declined, the use of longer-term loans for buying cars and trucks has continued to rise, according to one consumer group.

and more »

Software Bugs Led to 1 Million Inaccurate Car Loan Records, Tech Company Admits in CFPB Agreement - The District Sentinel News Co-op

The District Sentinel News Co-op

Software Bugs Led to 1 Million Inaccurate Car Loan Records, Tech Company Admits in CFPB Agreement
The District Sentinel News Co-op
Records on roughly one percent of outstanding auto loans in the United States were plagued last year by inaccuracies caused by a software company's negligence. Source code used by Conduent Business Services was buggy for years and the company ...


6.3 million Americans are 90 days late on their auto loan payments ... - Chicago Tribune

Chicago Tribune

6.3 million Americans are 90 days late on their auto loan payments ...
Chicago Tribune
A rising number of Americans are unable to make the monthly payments on their car or truck loans and are in danger of having their vehicles repossessed, ...

and more »

China sets max loan ratio for new energy car loans at 85 pct - Reuters

China sets max loan ratio for new energy car loans at 85 pct
Reuters
China's central bank and thecountry's banking regulator on Wednesday set the maximum loanratio for purchasing new energy vehicles for self-use at 85percent.

and more »

Auto Industry Predicts Black Friday Sales Bump - PYMNTS.com

PYMNTS.com

Auto Industry Predicts Black Friday Sales Bump
PYMNTS.com
... from an oversupply of used cars, while also struggling because of an increase in new car sales. This flux in car sales has had another impact, too: consumers being upside down on their loans — that is, owing more on their car loans than the car is ...

and more »

Before you drive off with a long-term car loan - CBS News - CBS News

CBS News

Before you drive off with a long-term car loan - CBS News
CBS News
When you're looking at that shiny -- and pricey -- new pickup or SUV, taking a longer loan may seem like a good way to keep the monthly payments down.

and more »