Highlight here is that it has been surging since 2010.
Something tells me that this is a direct cause of Cash For Clunkers: “Hey, let’s get a new car, tie ourselves into this 4-5 year loan we cannot afford, but hey, free 3 grands from the government!!”
So we lost a bunch of perfectly usable cars in the name of the “environment”, which is questionable since the recycling of the said cars does harm as well, cut supply to used cars driving prices up and out of reach for some, and some people tied onto delinquent loans.
Seems like lose-lose for everyone end of the day.
And of course the link got Kinja’d: ‘Deep Subprime’ Auto Loans Are Surging