Discussion Paper
Rising Auto Loan Delinquencies and High Monthly Payments
Adams, Robert M.; Bord, Vitaly M.; Sannoh, Haja (2024-09-26)
Delinquency rates on auto loans rose substantially to above pre-pandemic levels by the end of 2023, after falling to historical lows during the COVID-19 pandemic. Because auto loans are an important sector in consumer credit, accounting for about 25 percent of nonmortgage consumer credit, a deeper analysis of the increase in delinquencies can give insights into the financial health of borrowers in consumer credit markets and overall household financial well-being.
FEDS Notes , Paper 2024-09-26