Auto loan debt rises, delinquencies flat
Average auto loan balances continued to increase in the second quarter, jumping 4 percent from a year ago to $13,435, according to TransUnion. But the delinquency rate for loans more than 60 days past due remained flat.
Consumers clearly are more confident in managing additional debt, said Peter Turek, TransUnions vice-president of automotive.
Even subprime delinquency rates changed little, though borrower debt rose more than 7 percent in the past year. Thats encouraging because if a borrower is delinquent, its often in the first year of the loan, Turek said.Download Bulletin PDF