1. 7 million Americans behind on auto loan payments, NY Fed says

    7 million Americans behind on auto loan payments, NY Fed says

    A record 7 million Americans are at least 90 days behind on payments for automobile loans, the highest number in history according to a study released Tuesday by the Federal Reserve Bank of New York.In a the study first reported by The Washington...

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    1. In fact, 2018 marked the highest level in the nineteen-year history of the loan origination data, with $584 billion in new auto loans and leases appearing on credit reports, up in nominal terms from 2017's $569 billion.
    2. The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market.
    3. Your car loan is your No. 1 priority in terms of payment.
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