The boom in vehicle sales has been associated with strong increase in new auto loans, with $584 billion in new loans and leases appearing on credit reports past year - the highest level in the almost two decades of record keeping, according to the Federal Reserve Bank of NY. That figure exceeded the level recorded in 2010, during the Great Recession.
About 6.5 percent of the total debt issued by auto finance companies was past due by the end of 2018.
The analysis said auto loans given at the dealer level to less qualified buyers - instead of through banks or credit unions - are most responsible for the delinquencies.
The report notes that there were more than a million more troubled borrowers past year than at the end of 2010, when the rate of delinquency peaked amid the recession.
"Auto loan originations for 2018 reached an all-time high", said Joelle Scally, Administrator of the Center for Microeconomic Data at the New York Fed.
Even though more people are delinquent on their auto loans, there has also been a tremendous growth in the nominal amount of United States auto loans in existence, the report says.
Total debt held by U.S. households surged by almost $400 billion in 2018 to more than $13.5 trillion, marking the sixth straight annual increase, even as home mortgages declined, according to data released Tuesday. Credit card balances rose 1.5 percent in Q4, the 24th consecutive quarter with an increase, the Fed study said.
The report said the overall credit quality improved at the end of previous year, but "with growth in auto loan participation, there are now more subprime auto loan borrowers than ever, and thus a larger group of borrowers at high risk of delinquency".
That's because the Cardinals led by 23 points with 9 minutes, 5 seconds to play, but ended up losing 71-69. The Blue Devils were down 59-36 with 9:13 left in the game and stormed back by closing on a 35-10 run.
Meghan addressed the letter to "Daddy", before telling him she "does not understand" why he has "chosen to take this path". Making them even busier, of course, is their baby who's due to join the royal fold around the end of March or early April.
La scène prend place près de la place de la République, boulevard du Temple, à Paris, dans le 3ème arrondissement. Le commerçant parisien, âgé de 32 ans, a quitté ses fourneaux pour le commissariat du VIII.
The teams were tied with less than two seconds to play when Tigers guard Skylar Mays attacked the paint and attempted a layup. On Tuesday night the Kentucky Wildcats hosted the LSU Tigers in a huge SEC matchup with major implications.
That year she travelled to Iran to attend an anti-America conference sponsored by the New Horizon Organization. They declined to say to what extent these disclosures compromised USA intelligence operations targeting Iran.
Liverpool duo Naby Keita and Sadio Mane are keen for Timo Werner to make the move to Anfield from RB Leipzig. RB Leipzig hotshot Werner is reportedly the No.1 target but Liverpool are not alone in their pursuit.
On oublie vite qu'ils n'ont que huit ans d'écart et que, forcément, le footballeur n'était pas connu lorsque mon fils est né... Alors que Kylian Mbappé brille cette saison avec le PSG, un homonyme tente d'exister dans l'ombre du champion du monde.
The 26-year-old "Wolves" singer traveled to Mexico with her closest pals to celebrate BFF Courtney Barry's bachelorette. Seriously though, on first glance, Young Chrissy is Gomez's doppelganger - and we aren't the only people who think so.
Vera Jourova, EU justice commissioner, who proposed the list, was quoted as saying she was confident states would not block it. The list now includes 23 jurisdictions, with Bosnia Herzegovina, Guyana, Laos, Uganda and Vanuatu removed.
Sur les trois premiers modèles, l'affichage digital qui remplace les cadrans derrière le volant pourrait s'éteindre soudainement. Sur ces transmissions, un défaut de fabrication fait en sorte que le véhicule peut soudainement rétrograder au premier rapport.
Une voiture rose pour Lance Stroll
Haas (7 février), Williams (11 février) et Toro Rosso (11 février) ont déjà présenté la leur, tout comme Renault plus tôt mardi. La nouvelle aventure Racing Point va donc débuter dès 2019 avec un budget en hausse et des objectifs tout aussi haut.
Enes Kanter signs deal with Portland Trail Blazers
After playing two seasons with the Thunder, Kanter was traded along with Doug McDermott to NY in exchange for Carmelo Anthony . Enes Kanter will be a Trail Blazer as the former Knicks center will get a chance to play with a contender.
Rivian in talks with GM and Amazon
Amazon has also invested in self-driving auto startup Aurora Innovation Inc, in a $530 million funding round announced last week. Negotiations are reportedly still taking place, but the sources claim we may hear an official announcement some time this month.