The number of people at least 60 days behind on car payments rose by nearly 27% in the time
between December 2021 and December 2022.
The number of people paying $1,000 or more per month for a vehicle went up to 15%, and
interest rates went up to 6.5% for new cars and 10% for used ones.
If you’re one of the people affected by this, you aren’t alone and don’t have to worry – this is for
you. We’ll discuss the difference between defaults and delinquency in car payments, how to
deal with delinquency, and what to do about new car loans with bad credit.
Read moreHaving Issues Keeping up with Car Payments? Here’s How to Deal with Them