US Auto Loan Defaults Soar to 6.56 Percent High
US auto loan defaults have reached a six-year high, with subprime borrowers being hit hardest. According to Fitch Ratings data, the number of subprime automobile borrowers at least 60 days past due has increased to 6.56 percent, the highest since 1994. The Federal Reserve Bank of New York reports that delinquency rates for all auto … Read more