Auto Loan Subprime Defaults Hit Crisis LevelsRupert Hargreaves
Subprime auto delinquencies are currently approaching crisis-era peak levels, bad news for finance providers and the wider consumer debt market according to a recent research booklet from the team at Morgan Stanley.
According to Morgan Stanley Research, across prime and subprime loan pools, 60+ day delinquencies are currently running at 0.54% and 4.51% respectively. The crisis-era peak for sub-prime auto delinquencies was 4.69%, and if delinquency rates continue to accelerate, they will pass this vital level before the end of the year. At the . . .
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