#transunion

Not that you couldn’t have figured this one out all by yourself, but car loan delinquencies are reaching record levels once again. The culprits are the usual suspects. Wages have failed to keep pace with inflation for a couple of generations, current inflation rates are at record highs, and those loan-accommodation programs set up during the pandemic are all expiring now. Basically, regular people are becoming broke so they’re starting to be forced into tough financial decisions – including whether to make their car payments against heating their homes or feeding their families.

The phrase “disruptive technology” has long since been co-opted to mean “a new iPhone app for people to share photos of their meals” but it has an original and genuine meaning as well: any technology that matures faster than society’s ability to use it constructively. The list of disruptive technologies includes entries as diverse as mustard gas and the automobile itself, but the advent of the connected world has unleashed a diverse cornucopia of unintended consequences ranging from Amazon’s destruction of brick-and-mortar retailers to the corrosive effect that the various “reunion” and “classmates” websites have on American marriages.

TTAC has covered the world of automated license plate readers (ALPRs) several times, most recently discussing a company that assists police with collecting outstanding court costs and fines against motorists in traffic. We’ve also discussed the fact that governmental use of ALPRs amounts to a sort of camel’s nose under the tent.

Here’s the rest of the camel.

Alleged to not be interested in cars or driving them, millennials are the fastest-growing segment of car buyers as far as lending goes, per a new study.

According to credit reporting bureau TransUnion, auto finance has a bright future ahead in 2014, with easier access to credit and bigger loans for consumers.