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Credit unions are competing aggressively in the automotive marketplace, financing one in four auto loans so far in 2015, CU Direct reports.
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Auto finance volumes were up in every risk tier in the fourth quarter 2014, suggesting that concerns over the uptick in subprime loans are exaggerated.
Read More →The total outstanding balance on open automotive loans hit $886 billion in the fourth quarter of 2014, but subprime and deep subprime market share remained at low levels.
Read More →The total balance of auto loans in December 2014 was $975 billion, representing 33.2% of total outstanding non-mortgage consumer debt, according to Equifax.
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A rise in delinquencies wasn’t cause for concern during the third quarter 2014, and all signs point to auto finance sources staying active in the quarters ahead.
Read More →Installment loan delinquencies fell to a record low in the third quarter, with auto loans originated through auto dealers falling from 1.55% in the year-ago period to 1.51%
Read More →TransUnion’s annual auto loan forecast calls for auto loan debt to rise to $18,244 by the end of 2015. This would mark 19 consecutive quarters of increases since the first quarter of 2011.
Read More →In the third quarter of 2014, 30- and 60-day automotive-loan delinquencies grew 3.7% and 8.6%, respectively, from the previous year. The change was due to growth in subprime loans.
Read More →The total dollar amount of automotive loan balances outstanding hit $839.1 billion in the second quarter of 2014, up 11.7% from the previous year. Officials said the industry should watch this trend closely, as it may dictate the availability of credit in the future.
Read More →CUDL Credit Unions became the fourth largest lending segment in the first quarter, growing their origination count by 25.4%.
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