Some 6 million Americans are delinquent with auto loans and it's going to get worse

It's behavior much like that seen in the months heading into the 2007-2009 recession, according to data from Federal Reserve Bank of New York researchers.

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Credit officials have stressed that the contagion risk to the financial system from poor auto loans isn't like the risk posed when subprime mortgage lending pushed the U.S. into the Great Recession. That's in large part because repossessed cars are easier to resell than bank-owned homes. Cars can't sink whole neighborhoods with foreclosure blight.