Shocking stat of the day: The share of subprime car borrowers at least 60 days past due on their loans hit 6.6% in January, the highest in at least 30 years. This percentage has DOUBLED over the last 3.5 years. Levels now exceed levels seen in 2020, 2008, and the previous peak recorded in 1996. Transitions into serious delinquency of 90+ days among all borrowers hit 3.0% in Q4 2024, the highest since 2010. Americans are falling behind on debt payments like we are in a recession.