The national auto delinquency rate did fall for the eight consecutive quarter on a year-over-year basis, but it did show a modest increase from the second quarter, Transunion reported today.
The national 60-day delinquency rate for auto loans fell for the seventh consecutive quarter, dropping to 0.44 percent at the end of the second quarter, TransUnion reported today.
Credit reporting agency TransUnion reported a seasonal hike in the rate of U.S. auto-loan borrowers more than 60 days past due.
The national 60-day auto delinquency rate fell 19.7 percent between the first and second quarters of 2010 to 0.53 percent, according to a TransUnion quarterly analysis of auto finance trends.
Consumer payment behavior continues to improve, with TransUnion reporting that the national 60-day delinquency rate fell 18.52 percent in the first quarter of this year to 0.66 percent.
The national 60-day auto delinquency rate showed no change between the third and fourth quarters of 2009 at 0.81 percent, according to TransUnion's quarterly analysis of trends in the auto industry.
The national auto loan delinquency rate will increase approximately 7 percent at the end of 2010 to 0.92 percent, up from an expected 0.86 percent at the conclusion of 2009, according to TransUnion’s annual auto loan forecast.
The national 60-day auto delinquency rate rose between the second and third quarters, but analysts for TransUnion.com said the rise was consistent with what’s occurred in 2009. The report also showed that some states are emerging from the recession faster than others.
The industry experienced a drop in the 60-day auto delinquency rate in the second quarter 2009, reflecting a seasonal pattern rather than a change in the current lending environment, according to TransUnion’s quarterly report on auto lending trends.
The automotive finance industry experienced a drop in the 60-day auto delinquency rate in the first quarter 2009, reflecting a seasonal pattern rather than a reversal of the trends associated with the current lending environment, according to TransUnion’s quarterly report on auto lending trends.
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