http://www.marketwatch.com/story/some-6-million-americans-are-delinquent-with-auto-loans-and-its-going-to-get-worse-2016-11-30?
The number of subprime auto loans sinking into delinquency hit their
highest level since 2010 in the third quarter, with roughly 6 million
individuals at least 90 days late on their car-loan payments.
It's behavior much like that seen in the months heading into the
2007-2009 recession, according to data from Federal Reserve Bank of New
York researchers.
...
Credit officials have stressed that
the contagion risk to the financial system from poor auto loans isn't
like the risk posed when subprime mortgage lending pushed the U.S. into
the Great Recession. That's in large part because repossessed cars are
easier to resell than bank-owned homes. Cars can't sink whole
neighborhoods with foreclosure blight.
Don't worry, consumer confidence is high...
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