Delinquencies have been rising for credit cards and auto loans.

Though many households are faltering on credit card and auto loan payments, wealthier Americans are keeping the spending metrics robust.

The New York Federal Reserve found that rejection rates for loan applications are higher than they were in 2023 for credit cards, auto loans, mortgages and refinances.

The amount includes money owed on things like credit cards, auto loans and student loans. Delinquencies are also rising.

The application rate for any kind of credit dropped to just over 41% this year from nearly 45% in 2022, according to a Fed survey.

The repossession industry is struggling with an enduring labor shortage, while 1.5 million car repos are expected this year.

$20,000 used to be the starting point for a new car. Now there’s only one remaining model on the market that sells for around that figure … the Mitsubishi Mirage.

New light vehicle sales, including cars, SUVs and pickups, were up about 20% in June from this time a year ago.

In 2022, consumer credit increased 7.8% from the year before. But in December, the growth in borrowing decelerated.

The average selling price of new vehicles reached a record high in late 2020. Last year also saw vehicle loan debt increase to record levels.