Rising Auto Loan Delinquencies and High Monthly Payments

Robert M. Adams, Vitaly M. Bord and Haja Sannoh
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Robert M. Adams: https://www.federalreserve.gov/econres/robert-m-adams.htm
Vitaly M. Bord: https://www.federalreserve.gov/econres/vitaly-m-bord.htm

No 2024-09-26, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: 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.

Date: 2024-09-26
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2024-09-26

DOI: 10.17016/2380-7172.3623

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