Lions and friends…
Auto loan delinquency rates are now at their highest levels since 2008.
Since the Fed started raising rates in March 2022, auto loan delinquency rates have nearly doubled.
For Q2 2023, the auto loan delinquency rate in the US jumped to 7.3%.
This is up from 6.9% in Q1 2023 and above pre-pandemic levels.
Moody’s said that auto loan delinquencies will hit 10% in 2024.
GM
As Doug Casey has stated several times the bulk of the US citizens are bovinely stupid. I for one find it incredible that how many people just see clear blue sky with this upcoming shit storm in the starting blocks.
I believe it, I have a few family members thinking about letting vehicles get repossessed. They bought them at the height of the market while stimulus checks were paying their bills. Now…….