Compared with other financial institutions, credit unions are holding their own when it comes to auto loan balances, delinquencies and repossessions, according to Experian Information Solutions.
The company's Q4 2010 report shows automotive credit overall continuing to strengthen as 30- and 60-day loan delinquencies exhibited sharp declines. The report also showed the share of loans to credit-challenged new vehicle shoppers grew by 18.2% in the fourth quarter of 2010 compared with the fourth quarter of 2009.
Originations began to loosen in the second half of 2010 while used vehicle financing decreased year-over-year in the highest risk tier, Experian noted. New financing increased all segments, including an 18% growth in subprime new financing. Consumer loans grew a modest amount from last year and new payments were down while used payments showed a slight increase.
Here are a six slides from our May 11 print edition that illustrated Experian's report.