> "Distress in auto lending broadly is often seen as a bellwether to changing circumstances in the US economy, because Americans particularly in the lower-income brackets tend to put their highest priority in auto payments," said Brett House...
Or, put another way, when the bills come in, people make their car payments first, because they have to get to work. So either there are other bills people aren't paying, or people aren't going to work. Both seem bad. One purported cause of increased auto loan defaults is that people are having to make student loan payments again, although that would suggest they aren't prioritizing the auto payments.
Or, put another way, when the bills come in, people make their car payments first, because they have to get to work. So either there are other bills people aren't paying, or people aren't going to work. Both seem bad. One purported cause of increased auto loan defaults is that people are having to make student loan payments again, although that would suggest they aren't prioritizing the auto payments.