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Auto Loan Delinquency Rate

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February 23, 2017 - Industry News

New York Fed: Auto Originations Reach 18-Year High in 2016

Every type of debt posted a quarter-over-quarter increase, with auto loan balances increasing by $22 billion ($93 billion from a year ago) to $1.16 trillion. Much of that growth was driven by originations, which totaled $142 billion. That’s the highest level recorded in the 18-year history of New York Fed’s data.

Tags: Auto Loan Delinquency Rate, auto loan origination, Federal Reserve Bank of New York

December 14, 2016 - Industry News

Subprime Borrowers, Expected Interest Rate Hikes to Drive Up Delinquency Rates in 2017

Transunion projects the auto loan delinquency rate for consumers with payments 60 or more days past due to close the year at 1.4%, the highest level since year-end 2009. Even with this increase, TransUnion said delinquency rates will remain well below levels observed during the last recession.

Tags: Auto Loan Delinquency Rate, Credit, delinquencies, TransUnion

August 17, 2016 - Industry News

TransUnion: Average Auto Loan Balance Reaches Post-Recession High in Q2

The average auto loan balance per consumer in the second quarter grew 2.7% from a year ago to a post-recession high of $18,177, according to TransUnion. Delinquencies were also up, although the firm said there’s no cause for concern.

Tags: auto finance, Auto Loan Delinquency Rate, F&I manager, TransUnion

May 19, 2016 - Industry News

Auto Loan Balances Top $1 Trillion in Q1, Experian Reports

Lease balances also skyrocketed in 2016's opening quarter, while subprime loan volumes showed double-digit growth. Delinquencies, however, remained in check, the firm reported.

Tags: auto finance, Auto Loan Delinquency Rate, Experian Automotive, lease originations, Oustanding Auto Loan Balances

May 11, 2016 - Industry News

Q1 2016 Delinquency Rates Reach New Highs, TransUnion Reports

High delinquency rates for auto loans and credit cards in the first quarter pushed national average delinquency rates to levels not seen in at least three years, according to TransUnion. Much of the increase can be attributed to the continued slump in oil prices and an increase in loans made to customers with nonprime credit.

Tags: Auto Loan Delinquency Rate, Credit Cards, Report, TransUnion

December 15, 2015 - Industry News

TransUnion: Average Auto Balances to Rise in 2016, Delinquencies to Remain Flat

TransUnion expects the average auto loan debt per borrower to increase to $18,509 by the end of 2016, a more than $3,500 increase since the Great Recession. The firm noted, however, that subprime auto loans still make up less than the 23.7% share recorded in the third quarter 2009.

Tags: Auto Loan Delinquency Rate, auto loan volume, delinquencies, TransUnion

November 4, 2015 - Industry News

Auto Loan Balances Totaled $968 Billion in Q3

Experian Automotive reported that outstanding loan balances are now up more than 53% from the post-recession low in 2010.

Tags: auto finance, Auto Loan Delinquency Rate, Experian Automotive, outstanding loan balances

October 22, 2015 - Industry News

Banking Regulator Issues Warning to Auto Finance Industry

The Comptroller of the Currency warned in a speech delivered yesterday that the pace of auto lending reminds him of the mortgage industry in the run up to the 2009 financial crisis.

Tags: auto finance, Auto Loan Delinquency Rate, Auto Loan Terms, banks, economic downturn, economic recovery, Experian Automotive, Office of the Comptroller of the Currency

August 12, 2015 - Industry News

Experian: Auto Loan Balances Grow at Fastest Rate Since 2006

The total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015, the largest dollar volume growth since 2006, according to a report from Experian Automotive.

Tags: Auto Loan Delinquency Rate, Auto Loans, Experian, Experian Automotive, subprime

October 1, 2013 - Industry News

Equifax: Auto Loan Balance Hits 5-Year High

The balance of auto loans in August increased 9.7 percent from last year, rising from $760.8 billion to $834.4 billion, according to Equifax’s National Consumer Credit Trends Report.

Tags: Auto Loan Delinquency Rate, Credit, delinquencies, Equifax, Equifax National Consumer Credit Trends Report

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