Americans Fall Behind on Car Payments at Highest Rate in Decades

Car owners are missing their monthly payments at the highest rate in more than 30 years.

In January, the share of subprime auto borrowers at least 60 days past due on their loans rose to 6.56%, the most since the data collection began in 1994, according to Fitch Ratings.

A slowing economy and the ongoing impacts of inflation have made it harder for many consumers to stay current on their bills. Auto loans have been a particular pain point, with higher car prices and elevated borrowing costs driving a surge in repossessions.

The Federal Reserve Bank of New York recently reported that the share ...