Calculated Risk
Like previous quarters, the third quarter saw finance sources continuing to delve deeper into the credit spectrum. But is this good for the industry?
Like previous quarters, the third quarter saw finance sources continuing to delve deeper into the credit spectrum. But is this good for the industry?
TransUnion's Pete Turek issued his 2013 auto finance predictions this week. He expects the delinquency rate to remain consistent and debt per borrower to jump.
Despite growing auto debt, the majority of states and cities are experiencing declines in their auto delinquency rates, which fell to a new low for the second consecutive quarter.
Auto sales jumped out to a 14.5 million-unit pace in the opening quarter of 2012. The catalyst was a surging auto finance market in which several key metrics fell to pre-recession levels.
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