Vehicle repossessions hit the lowest rate since ExperianAutomotive began tracking the data seven years ago.

In the second quarter, vehicle repossessions dropped 14.8%,Experian said. Roughly 0.36% of all vehicle loans ended in arepossession, down from 0.43% in second quarter 2012, accordingto the data. The change represented a 10.4% decrease from theprevious low of 0.41% in the second quarter of 2006.

The total balance of outstanding automotive loans grew to nearly $751 billion, compared with$682 billion in the second quarter of 2012. Banks increased theirtotal dollar volume by $24 billion, while credit unions increased $18 billion, finance companies $16billion and captive finance companies $11 billion, Experiansaid.

Meanwhile, 30-day delinquencies dropped 5.6% in the secondquarter to 2.38%, from 2.52% in second quarter 2012, according toExperian. The total is two basis points higher than first quarter2013 delinquencies and is the lowest for a second quarter since2006.

Sixty-day delinquencies remained flat at a low 0.58% as the autolending market stayed strong, said Experian. For second quarter2006, these totaled less than 0.53%. The 2013 figure is at thenext-lowest second-quarter point.

“The seasonality of the market usually has the first quartershowing the lowest 30-day delinquency rates, but even with thetotal automotive loan portfolio growing, consumers in the secondquarter have done an exceptional job of meeting their financialobligations to keep the market strong,” said Melinda Zabritski, Experian's senior director of automotivecredit, in a statement.