Auto-loan delinquencies at lowest rate on record
8/21/2012LOS ANGELES -- The rate of U.S. auto loan payments at least 60 days overdue fell in the second quarter to 0.33 percent, a drop of about 25 percent from the same period last year and of 8 percent from the first three months of this year, credit reporting agency TransUnion said today.
The latest rate is the lowest since TransUnion began tracking auto loan data in 1999. The highest rate recorded by the company was 2.39 percent in the first quarter of 2000. The year-over-year auto-loan delinquency rate has fallen for 11 consecutive quarters. TransUnion culled data from a random sampling of about 27 million credit reports.