BREAKING: The 60+ day delinquency rate on US subprime auto loans is up to ~5.2%, the highest on record. This figure has more than doubled over the last 4 years. Serious delinquency rates on subprime auto loans are now ~1.7 percentage points above their 2008 Financial Crisis peak. At the same time, 60+ day delinquencies on prime auto loans are up to ~0.4%, near their highest since 2011. Meanwhile, total US auto debt surged +$28 billion in Q2 2026, to a record $1.71 trillion. Americans are falling behind on their car payments at a historic rate.(The Kobeissi Letter)