"The average car payment for new vehicles was $737 per month in the third quarter of 2024, up 0.7% from Q3 2023
Auto loan delinquency rates are up compared to last year. 4.6% of outstanding auto debt was at least 90 days late in Q3 2024, according to the New York Fed, up 17.4% from Q3 2023. Meanwhile, the percentage of auto loans that fell to 30 days past due was 8.1% in the third quarter of this year, up 9.9% from 7.4% in the third quarter of last year."
I'm shocked that a somewhat predeatory lending company has great statistics about this - the whole article is interesting.
Oh yeah, something something they all took bailouts in 2008 and Ford was the only one that could pay the loans back while GM killed off several brands e.g. Oldsmobile and Pontiac.
I disagree, https://www.lendingtree.com/auto/debt-statistics/
"The average car payment for new vehicles was $737 per month in the third quarter of 2024, up 0.7% from Q3 2023
Auto loan delinquency rates are up compared to last year. 4.6% of outstanding auto debt was at least 90 days late in Q3 2024, according to the New York Fed, up 17.4% from Q3 2023. Meanwhile, the percentage of auto loans that fell to 30 days past due was 8.1% in the third quarter of this year, up 9.9% from 7.4% in the third quarter of last year."
I'm shocked that a somewhat predeatory lending company has great statistics about this - the whole article is interesting.
As for manufacturing, I also disagree -- due to current affairs w/ Trump and tariffs : https://www.reuters.com/business/autos-transportation/trump-...
Oh yeah, something something they all took bailouts in 2008 and Ford was the only one that could pay the loans back while GM killed off several brands e.g. Oldsmobile and Pontiac.