Subprime Auto Loan Default Rates Are Now Higher Than During The Financial Crisis | Zero Hedge

The highly seasonal rate for subprime auto loans more than 60 days past due reached the highest in 22 years – since 1996 – at 5.8%, according to March data; this is well over 2% higher than the comparable March default rate in the low 3%s hit during the peak of the financial crisis a decade ago.

This is great news for field service inspectors as the volume of inspections will increase in the next overdue recession.