A Record 7 Million Americans Are 90 Days Behind on their Auto Loan Payments

fortune.com

The Federal Reserve Bank of New York reports that a record seven million Americans are 90 or more days behind on their auto loan payments. This is a record number and, despite low unemployment rates and reasonable market conditions, could be a leading indicator for some tough times ahead. This, coupled with a record number of student loans in serious delinquency, feels like it could be the start of a nasty downturn to come.

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