Data is showing that there's a massive subprime auto crisis going out right now in America. A lot of data is showing that it's similar to what happened in 2008 with mortgages. The only difference is, at least back then when you bought a house, you had build out some equity. Today, when you buy a car, what kind of equity are you building? Nothing. This is a massive number we're talking about. The deeper you get into it it you realize who it's affecting the most we're gonna talk about that today

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on everything we're talking about so let's take a look at this.

When you look at this here, October, last month, 6.65% of borrowers in the subprime market

are 60 days late.

That's 1 in 15 borrower is seriously behind two times higher than what it was just three years ago, 1.4% above the 2008 peak.

This is not like just something people are talking about. This is really taking place. Now, if you

talk about what is prime versus subprime, subprime borrowers are those that have a credit

score, 580 to 680. If you're deep subprime, you're 0 to 580. And then prime is 660, 680 plus as you look at this. So let's go a little bit deeper on these numbers to see what's going on. By the way, if you notice this is a subprime issue, prime borrowers, which is 0.37% are 60 days behind that's 1 in 270 it's not a big

number that anybody's worried about with subprime borrowers so if you look at

this chart and we zoom in a little bit more what do you notice if you notice

right here all the way to the top right record breaking we've never seen

that before prime is totally fine subprime we

peaked here which is someone the late 90s and in 08 you got another peak here

but this is higher than ever before so now when you look at 1.66 trillion

dollars of America's own to car.

What percentage is subprime?

What percentage is prime?

Prime makes up for about 78 to 85% of that.

Subprime makes up 15 to 20% of that,

which means the number is still a real number.

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