when it comes to making autoloan payments what transunion found is 60 day dlen kdelinquencies is the in nonpayments is in the sub prime loan area, and that's primarily because loan assistant programs that were in effect during the pandemic, they've ended. so a lot of those people who probably would have been delinquent during the pandemic are showing up as delinquent all of this comes as average loans remain close to a record high almost $42,000 according to transunion, meaning your average monthly payment tops $700. j.p. morgan cut its price target in half on carvana, saying they are not out of the woods the debt area is what a lot of people are focused on with carvana, and two earnings reports that are important after the bell we get lucid, focus on production and deliveries, and also going to be the focus on production and delivery when rivian reports after the bell back to you. >>> that does it for us on "the exchange," see you tomorrow. "power lunch" starts now >>> welcome to "power lunch," everybody, i'm kcontessa brewer. stocks rally as americans head to the polls what's the b

66 -- 866 billion in the third quarter, 19% higher than the same period last year according to transunionsing credit cards to pay for necessities like utility bills and christmas bills will no doubt end up on plastic as 48% of americans in a deloitte survey say they will use credit to pay for presents. americans are loading up on debt at a time savings levels are plummeting, falling to $62 the 6 billion from $4.85 trillion in 2020. today's levels the lowest since the great recession. and that means paying off credit cards will take time. for example, if you have a $1,000 balance and pay a minimum of $25 the a month, it will take 65 months or more than 5 years to pay off the debt, and that includes some $605 in interest payments. more than half the original debt. finally, pardon me, listen to this. >> it highlights the importance of paying way more than the minimum. pay it all if you can or maybe get a 0% balance transfer card. >> reporter: finally, 40% of holiday shoppers this year say they will limit debt by using coupons, credit card rewards -- my favorite -- and trading down to cheaper

credit agency transunion says high prices have consumers loading up debt on their credit cards to record levels and, in surprise, delinquencies are rising. what does this mean for buy now, pay later site affirm whose stock is buckling even as the company says its customers are paying on time for the greater part? we are about to get the story and the plan to stabilize the stock from ceo max eleven chin. we will also ask max how long peloton's woes will be affirm's problem. yeah, peloton of all places. "claman countdown" is just getting started. dow jones industrials down 498. we are back in a minute. ♪ ♪ i may be close to retirement but i'm as busy as ever. and thanks to voya, i'm confident about my future. voya provides guidance for the right investments. they make me feel like i've got it all under control. voya. be confident to and through retirement. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire various voic

are sounding the alarm bills in part because of the employment market here's the latest data from transunion 60-day delinquency rate jumped up to 1.65% well above a year ago and the highest since 2010 according to transunion for a refresher, we see auto loans and the amount being paid at near record highs right now the third quarter the average amount borrowed just under 42,000 the average monthly payment $701 at this point, those who track delinquencies say they're not worried in part because of the relatively strong job market >> if we get into a position where employment starts to be a challenge in the united states and unemployment increases, that is, i think, when the industry will really, really start to be concerned about a consumer's ability to pay their auto loans. >> reporter: and remember what we saw back in the recession a lot of people, they'll give up their apartment or their home before they give up their vehicle. a tale of two types of auto retailers right now, the online retailers like carvana have completely fallen out of bed in part because carvana continues to see just a

this is new data from transunion looking at auto delinquencies. market in the third quarter, and no surprise as the economy has slowed down, we have seen an increase in auto loan delinquencies. this is the highest point in at least a decade a couple things. one, it's primarily subprime and some of this is because people who were in loan accommodation programs are no longer in those programs >> there's been this effect where a delinquency that may have occurred in the last few years is pushed out or delayed because that consumer didn't have to make payments. so now some of those are hitting. >> take a look at shares of carvana, down again today. this is one of those stocks we have been watching over the last three days since the company reported its q3 results on thursday jpmorgan out today, cut its price target in half down to $10, saying carvana is not yet out of the woods speaking of q3 results, today after the bell, we'll hear from lucid, we'll get the results after the bell shares of lucid well below when they had their spac ipo in 2021, and t