The rate of delinquent auto loans rose by 9% in the second quarter of 2014 versus thesame period in 2013 while outstanding auto debt also rose for the13th straight quarter, according to TransUnion, one of the nation's three consumer data analyticfirms.
The auto loan delinquency rate, which TransUnion defined as 60days or more late, rose to 0.95%, up from 0.87% in the secondquarter of 2013, but firm also reported auto loan delinquency fellfrom 1.00% in the first quarter of 2014.
“Auto lending remains similar to what we have observed duringthe last several quarters,” said Peter Turek, automotive vicepresident at TransUnion. “Delinquency rates remain relatively lowwhile auto loan balances keep rising – both metrics aided byincreasing auto loan originations”
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
