Late Car Payments Are High, But Lenders Are Still Lending - Jalopnik

Auto loan stress is rising, but lenders aren’t backing away. Car loan delinquencies are close to record highs—second only to levels set earlier in the year—yet credit remains widely available for dealership customers. Automotive News reports that the Dealertrack credit availability index rose to 105 in July, up 6.9% year over year, suggesting possibly the loosest auto lending environment in nearly 11 years. During the second quarter, 5.5% of U.S. auto debt was at least 90 days behind, up 0.5 percentage points from a year earlier, according to the New York Fed using Equifax data.