With interest rates rising and fears of an imminent recession gaining increasing traction (see below), many remain concerned about the subprime auto lending market. The professionals at Davis & Gilbert LLP note:
Total auto loan debt increased to $1.23 trillion in Q1 2018, up from $1.17 trillion versus a year ago, and accounted for 9.3% of the $13.21 trillion in national household debt – remaining greater than credit card debt, but less than student loan and mortgage debt, according to Federal Reserve Bank of New York data.
While subprime originations have...
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