Delinquencies on auto loans, credit cards and consumer loans just hit their highest levels since 2012.
— The Kobeissi Letter (@KobeissiLetter) September 3, 2023
As both rates and prices rise rapidly, delinquency rates are skyrocketing.
The average new car now costs $48,300, up from $37,700 just 4 years ago.
The average used car is… pic.twitter.com/XpPX6vnOHS
So sad but no surprise here in Illinois..
https://www.facebook.com/photo?fbid=1044137281611477&set=a.289393157085897