Average loan balance rises from $16,694 to $17,090.
TransUnion reports rate of delinquent auto loans rises by 9% in the second quarter.
National delinquency rate at 0.8% in second quarter, credit bureau says.
An increase in delinquencies among subprime borrowers has been the primary driver behind a rise in the national auto loan delinquency rate.
The ratio of borrowers that are 60 more days past due on their auto loans continue to remain at near historic low levels, TransUnion says.
TransUnion reports a 0.33% auto loan delinquency rate in second quarter.
The national auto loan delinquency rate has reached its lowest level since TransUnion began tracking the data in 1999.
Payment data analysis by TransUnion, a national credit reporting bureau, demonstrates consumers’ shift in loan payment habits, making auto loans the first major bill that gets paid each month.