Loan delinquencies up in 2nd quarter; repo rate way up

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While still at historic lows, 60-day loan delinquencies increased by 7 percent in the second quarter, to 0.62 percent from 0.58 percent a year ago, says Experian Automotive. Thirty-day delinquencies showed a slight increase, to 2.39 percent from 2.38 percent.

–Weêre starting to see a slight uptick in the number of consumers struggling to make their automotive payments on time,” said Melinda Zabritski, senior director of automotive finance for Experian. –However, we have to keep in mind that these percentages are still extremely low.” The pattern of consumer loan repayment in the next several months may dictate the available of credit in the future, Zabritski said.

The study also found that the repossession rate jumped 70 percent in the second quarter to 0.62 percent.

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