Default Rates of Subprime Auto Loans Higher than Financial Crisis

According to data from Fitch Ratings delinquency rates for subprime auto loans are at 5.8 percent, higher than the financial crisis; lenders have taken notice and are starting to lend less to these risky groups; the ABS market for bonds backed by auto loans will most likely stay the same as only a small percentage of loans are packaged into securities. Source.