Car Loan Delinquencies Highest in Alaska, Arkansas, Michigan
Auto loan balances rose in every state between the first quarter of 2013 and the same quarter this year but three states had the largest increases in delinquent debt.
According to the latest TransUnion auto loan report, Alaska, Arkansas and Michigan experienced the largest year-over year increases. Delinquent auto loan debt in Alaska was 0.64% in Q1 2013 and 0.77% in Q1 2014, which was a 20.3% change. For the same period, Arkansas’ debt rate was 0.95% and 1.15%, respectively, which was a 21.1% change.