If you frequent these pages (and why wouldn’t you?), you’ve read a lot about subprime auto over the past month.
Here are some of the relevant posts:
- As Subprime Auto Bubble Bursts, Lenders Use GPS To Hunt Deadbeat Borrowers
- A Dubious New Record
- Subprime Auto Loans Might Be Ok Because After All, People Need Their Cars
Well for those interested in an idiot-proof assessment of just how endemic this problem is becoming, look no further than the following chart from Wells Fargo which shows that subprime auto debt as a percentage of GDP hasn’t been this high since at least 2009:
Just a few more quarters and we’ll be right back to pre-crisis levels.