The number of Americans who are 60 days late on their auto-loan payments hit a 10 year high in January. Who will be hit the hardest as delinquencies soar?
I expect to see the number of bad loans increase, says Karen Finerman. I doubt the worst is behind us. For a trade I recommend shorting Capital One .
It makes sense, adds Jeff Macke. I think it’s also going to be a tough slog for companies like CarMax and Harley Davidson .
Also, it’s worth noting JP Morgan holds a giant book of auto loans, however as a percentage of their business it’s rather small, Finerman adds.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to email@example.com.
Trader disclosure: On Apr.2, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MSFT), (YHOO), (INTC) Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (CROX), (MSFT), (NYX), (TSO), (VLO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF); Pete Najarian Owns (AAPL), (CSCO), (ETFC), (MU), (NOK), (TSO) , (YHOO), (XLF); Pete Najarian Owns (AA) Calls, (BSC) Calls, (COP) Calls, (MSFT) Calls, (LEH) Puts, (MER) Puts, (OIH) Puts; Pete Najarian Has A Long Diagonal Time Spread In (RIMM)