Auto Loan Delinquency Is at Its Highest Since 2008. The Philadelphia Fed Says It Looks Worse Than It Is. They Are Both Right.

The 60-day delinquency rate hit 1.68% in Q3 2025, the highest since 2008. The Philadelphia Fed says the headline overstates distress. Both things are true and both matter.

[SIGNAL BRIEF] Consumer Credit: Bankrate: average 60-month new-car loan rate 7.00% (Apr 1, 2026 update)

Bankrate: average 60-month new-car loan rate 7.00% (Apr 1, 2026 update)