Americans can’t afford their cars any more and Wall Street is worried

“That should send off alarm bells,” says Zandi – particularly considering unemployment is still relatively low at 4.3pc.High levels of auto loan delinquencies are a clear sign of stress among lower and middle income households, says Mark Zandi, the chief economist at Moody’s Analytics.“We may, we probably will, have some defaults and it’s not going to be pretty.”“There’s been a lot of lending in there and if there’s weakness in consumer capabilities, then we’re going to have a problem. It doesn’t necessaril ...