It's harder than it has been in a long time to get a car loan. It comes amid increasing car loan payments and growing delinquency rates. Car buyers are facing some of the highest interest rates and monthly car payments in history — at a time that the rate of auto loan rejections is soaring. That's lower than the overall loan rejection rate of nearly 22%, but it's still up from 9% just four months earlier, and it marks the highest likelihood of auto loan rejection in recent history. Meanwhile, consumers keep getting hammered by high interest rates and even higher monthly car payments.

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Persons: it's, Pat Ryan, CoPilot's Ryan, Ryan, Gary Guthridge, Guthridge Organizations: Federal Reserve, Buyers Locations: Edmunds, delinquencies