Rising delinquencies are readily apparent in GM’s subprime securitizations where 31-60 day delinquencies have been on the rise since 2012 and now stand at over 8% of outstanding loans. Reports say that the year-over-year change in 61+ day delinquencies for GM securitizations have been growing at double-digit rates for several months now.
With delinquencies and charge-offs mounting at these levels, it’s just a matter of time before the subprime auto bubble bursts. Just another sign of the Obama “economic recovery.
The average market price for a near-by vehicle delinquency interview is $25 … higher fees for longer drive distances.
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