Auto Distress (Short Short Memories)

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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