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Top related persons:
— - 1 Margaret Rowe - 1 Zers - 1
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Search resuls for: "Margaret Rowe"


2 mentions found


☆ More people are missing car payments in another ominous sign for the economy
  + stars: | 2023-10-21 | by ( Polly Thompson | ) www.businessinsider.com   time to read: +3 min
A record number of subprime borrowers are behind on auto loan payments by more than 60 days. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementA record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg. More than a third of Americans are considered subprime borrowers, according to an Experian study, meaning they have lower credit scores and are deemed less likely to meet their repayments on loans. AdvertisementAdvertisementFor subprime borrowers, rates for new cars average 11.5% and 18.5% for used autos, according to Experian.
Persons: —, Margaret Rowe, Zers Organizations: Fitch, Bloomberg, Service, CNN, Fed, Economic, Cox Automotive Locations: Edmunds
☆ Car repossessions are on the rise in warning sign for the economy
  + stars: | 2022-12-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com   time to read: +8 min
WASHINGTON — A growing number of consumers are falling behind on their car payments, a trend financial analysts fear will continue, in a sign of the strain soaring car prices and prolonged inflation are having on household budgets. The percentage of auto loans that were 30 days delinquent was at 2.2% in the third quarter compared with 2.35% delinquent over the same period in 2019, according to data from Experian. By contrast, just over 4% of auto loans went into default in 2009. Another risk to car buyers’ finances is the growing length of auto loans, many of which now exceed seven years. It can also mean higher interest costs over the life of the loan on top of already inflated vehicle prices.
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