What does usury mean?

Borrowers with poor credit ratings are paying more money on auto loans every month than those with good credit, posing a risk to their financial and economic prospects and the U.S. economy as serious delinquencies on car loans have hit a long-term high.

There are fresh signs of stress in the ballooning trillion-dollar car loan market as economic storm clouds are gathering. Serious delinquencies in auto loans jumped the most since the 2008-09 Global Financial Crisis in the third quarter of 2022, according to data from the U.S. Federal Reserve.

Soaring costs for vehicle repairs are breaking American drivers’ budgets, forcing many to borrow money to keep their cars and trucks running and pushing some into delinquency and default on existing car loans.