The auto loan delinquency rate (the ratio of borrowers 60 days or more delinquent on their auto loans) increased to 1.04 percent in the third quarter, up on both a quarterly and yearly basis (from 0.87 percent in the second quarter and 1 percent in the third quarter of 2012).
The delinquency rate, though, is well below the third quarter average of 1.22 percent observed between 2007 and 2013.
Auto loan debt per borrower increased for the 10th straight quarter, moving up 4.7 percent from $15,943 in the third quarter of 2012 to $16,685 in the third quarter. On a quarterly basis, auto loan debt also increased from $16,410 in the second quarter.
Auto loan debt per borrower increased for the 10th straight quarter, moving up 4.7 percent from $15,943 in the third quarter of 2012 to $16,685 in the third quarter. On a quarterly basis, auto loan debt also increased from $16,410 in the second quarter.
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