Tag Archives: auto loan delinquencies

Auto Loan Delinquency Rate Declines by 35%

Mirroring a trend in many consumer lending categories, auto loan delinquency rates have declined significantly in July year-over-year. Equifax’s latest monthly National Consumer Credit Trends Report released today says that auto loan 60-day plus delinquency rates declined 35% in dollars.CNW Research also has good news for automakers and their stockholders. Its latest Loan-to-Value Ratio data shows a rise, especially for sub-prime borrowers. Banks are once again chasing auto loans because of low repossession rates and a minimum of late-payers. In the heyday of sub-prime lending, those with the lowest acceptable FICO score (credit rating in industry jargon) had LV ratios in the near-100% range. Continue reading

Posted in auto news, economy, financial results | Tagged , , , , , , , , , , | Leave a comment

Auto Credit Loosens. Average Loan Now More Than $25,000

New vehicle loans to “credit-challenged” buyers grew by 12.7% in Q3 2010, compared with Q3 2009, as lenders loosened their auto credit standards slightly as delinquencies dropped.  

Posted in auto news | Tagged , , , , , , , , , , , , | Leave a comment