SCHAUMBURG, Ill. — Experian Automotive today announced that consumers continued to make timely automotive loan payments in the second quarter, lowering the average delinquency rate across all lending organizations, including banks, captive finance arms, finance companies and credit unions.

The analysis showed that the 30-day delinquency rate was 2.52 percent, compared to 2.59 percent in the year-ago period. The 60-day delinquency rate was 0.58 percent, down from 0.60 percent in the second quarter 2011. Vehicle repossessions also dropped, coming in at 0.43 percent, compared to 0.59 percent in year-ago period, representing a 27.9 percent drop year over year.

“Consumers continue to do an excellent job of paying back their vehicle loans in a timely fashion, and that’s good news for everyone in the industry,” said Melinda Zabritski, director of automotive lending for Experian Automotive. “Both 30- and 60-day delinquencies are at historic lows, and the percentage of money at risk has dropped as well. This gives lenders needed stability, which filters through the auto industry to consumers in the form of easier-to-obtain loans.”

Total balances of loan portfolios also rose for all types of lending organizations, reaching $682 billion in the second quarter, compared to $646 billion in the year-ago period. Despite this strong growth, overall loan balances still lag behind prerecession levels. In the second quarter 2007, outstanding loan balances reached $701 billion.

“Automotive loan portfolios continued their strong comeback in Q2 2012, as delinquencies continued to drop and total dollar volumes continued to rise,” Zabritski said. “Since the automotive loan industry is highly interdependent between banks and retailers, this continued strong performance for loan portfolios is good for automotive retailers and consumers alike.”