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Rising auto loan defaults among low-income families signal worsening financial stress due to inflation, high rates, and stagnant wages.
A recent rise in late auto loan payments is highlighting growing financial strain among low-income families, according to new data.
Experts attribute the trend to ongoing inflation, rising interest rates, and stagnant wages, which are making it harder for households to keep up with monthly vehicle payments.
The increase in delinquencies underscores broader economic pressures, particularly for those relying on cars for work and essential travel.
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El aumento de los incumplimientos de los préstamos para automóviles entre las familias de bajos ingresos señala un empeoramiento del estrés financiero debido a la inflación, las altas tasas de interés y los salarios estancados.