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Despite the nine-basis-point increase, the auto loan default rate remains near levels recorded one year ago. However, declining auto sales and the normal end-of-year push to make room for newer models may encourage easier credit conditions and raise concerns about future defaults.
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Default rates inched up in August across multiple consumer credit categories, including auto loans and mortgages, according to data released by S&P Dow Jones Indices and Experian.
Read More →Consumer credit defaults remained relatively stable in July, according to data from S&P Dow Jones Indices and Experian. The on exception were auto loans, which showed an increase in defaults.
Read More →According to S&P and Experian, consumer credit defaults continue to rise, with the bank card default rate leading the way. The auto loan default rate also increased.
Read More →While consumer credit quality continues to look healthy, the national composite was 1.38 percent in September, slightly up from 1.34 percent in August.
Read More →The auto loan default rate rose slightly from January to February, but remains below year-ago levels. The two firms also report that overall consumer credit remains healthy.
Read More →Auto was the only loan type to show an increase in its default rate, but officials with the S&P/Experian Consumer Credit Default Indices don’t seem concerned.
Read More →Default rates for all loan types except bank cards fell for the fourth consecutive month, reaching their lowest levels since at least the end of the recent economic crisis.
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