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S&P Global Mobility reports auto loan delinquency exceeded recession-era highs in the first quarter.
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Outstanding auto loan balances totaled $987 billion in the fourth quarter 2015, up 11.5% from the year-ago period and the highest level since Experian Automotive began publicly tracking the data in 2006.
Read More →Despite auto loan balances rising by $101 billion, delinquencies remained flat from a year ago. Officials with the credit reporting agency said their seeing controlled and deliberate growth by lenders.
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Data from the second quarter didn't support talk of a subprime auto bubble, with subprime financing showing signs of leveling off and delinquencies remaining at historic lows.
Read More →Since 2011, auto loan debt per borrower has increased 13%, according to Transunion. The firm also reported that delinquencies experienced a sharp drop from 2013's end-of-year quarter.
Read More →While 60-day automotive loan delinquencies fell nationally, 22 states experienced increases. The sharpest increase occurred in Delaware, where delinquencies jumped by nearly 10%.
Read More →Delinquencies in the fourth quarter 2012 experience their first year-over-year increase since 2009, but they still remain below precession levels, Experian Automotive reports.
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Like previous quarters, the third quarter saw finance sources continuing to delve deeper into the credit spectrum. But is this good for the industry?
Read More →The credit reporting agency attributes the rise in the auto loan 60-day delinquency rate to seasonal patterns, says the rate is still down 56 percent from a recession high of 0.86 percent.
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