The auto-loan market has always been known as one of the "safer" ABS markets given the historically low default rates---industry insiders like to tout how you can BOTH sleep and drive your car. But defaults among subprime borrowers are beginning to tick higher, reaching 5% recently, as market breadth expands and loan terms extend past the usual five year tenor. Is the climbing charge-off rate another sign that the the US auto market plateaued?