Auto Loan Delinquencies Hit Record for Riskiest Borrowers

More Americans than ever are falling behind on their car payments.

The share of subprime borrowers at least 60 days past due on their auto loans rose to 6.65% in October, the highest in data going back to 1994, according to Fitch Ratings.

With ongoing inflation pressures and the return of student loan bills, millions of car owners are struggling to afford their monthly payments. It’s the latest sign of weakness in the US economy as the Federal Reserve considers the path of future rate cuts.

These cracks in consumer health came into stark view in September when Tricolor ...