Americans are falling behind on their car payments at alarming rates: Subprime auto loan delinquency rates reached 6.43%, the 2nd-highest on record. The 60-day delinquency rate for subprime auto loans has more than DOUBLED over the last 3 years. Delinquency rates are now ~1.4 percentage points ABOVE the 2008 Financial Crisis peak. Meanwhile, an estimated 1.73 million vehicles were repossessed last year, the highest total since 2009. Is an auto debt crisis forming?(The Kobeissi Letter)