Auto loan defaults are climbing as high prices and interest rates weigh on Canadians' wallets
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Helb loan defaults by age of debt
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🚨 Auto loan defaults are at a 30-year HIGH. The last time we saw this kind of spike? 2009. Shortly after, the housing market collapsed. Fast forward to today: • 6.6% of subprime car borrowers are 60 days late on payments (highest ever). • 90 day delinquencies across all borrowers just hit 3.0% (highest since 2010). Americans are falling behind on debt like we’re already in a recession. Does this mean a bigger economic downturn is coming? What do you think? 👇 #Finance #Economy #DebtCrisis #Auto
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