More people are missing car payments in another ominous sign for the economy

• A record number of subprime borrowers are behind on auto loan payments by more than 60 days.
• The rate hit 6.11% in September, per figures from Fitch Ratings reported by Bloomberg.
• Vehicle repossession rates are also on the rise, leaving many without transportation.

A record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg.

The rate hit 6.11% in September – the highest since records began in 1994, and was up from the 5.93% recorded at the start of the year.