Have record auto sales been propped up by low interest rates and a reliance on lowered lending standards? Probably.

Terms are stretched, leases are on the rise, and so is GM's over 60 day delinquency rates, hitting their highest level since January 2010.

According to ZeroHedge, historically, when GM's 2-month subprime delinquencies spike, bad things happen. GM has seen historical spikes in subprime delinquencies from 2001 to 2003, and again during the tumultuous period between 2007 and 2009.

But it's not just GM that's having trouble, Automotive News points out that not only are delinquencies at an all time high across the industry, indicating lenders may be allowing consumers to take on more debt than they should.

Late payments have also coincided with shoppers upping their appetite for 'cheap' debt in order to purchase the latest and greatest family haulers with all the bells and whistles. 2016 was a record year for loan origination, while expectations are soaring that 2017 could be another year for record auto sales.