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  • Reports Auto Loan Delinquencies Decreasing According To TransUnion

    (EMAILWIRE.COM, November 29, 2011 ) Asheville, NC -- According to numbers released by TransUnion, the delinquency rate for auto loans across the nation has dropped for the eighth consecutive quarter. The numbers reflect loans that are sixty days or more overdue are year over year results.

    In the third quarter of 2010, the delinquency rate was 0.58%. That dropped to 0.47% in the same quarter of 2011. While that drop was significant, the 0.47% is an increase over the second quarter of 2011 when delinquency rates were sitting at 0.44%. The slight increase occurs each year from second quarter to third quarter and can be blamed on normal seasonal adjustments. ''Increases in third quarter delinquency rates from the quarter before have been the rule rather than the exception, even today. In fact, third quarter rates have consistently been greater than second quarter rates since 2000 — primarily due to seasonal influences,'' said Peter Turek, automotive vice president in TransUnion’s financial services business unit. ''The good news is that national auto delinquency rates are still at historic lows and should remain so this year as the demand forecast for new and used vehicles indicates continued growth,'' Turek went on to say.

    TransUnion is one of several financial companies that have released positive information about the auto loan delinquency rates across the U.S. the auto category seems to be the only stable category in the financial sector right now. The continued low rate will allow lenders to loosen lending standards, which can lead to more cars being bought. That may be the spark the general economy needs.

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    Keystone Auto Loans
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