Learn How To Get The Best Deal

TransUnion: National Auto Loan Delinquency near record low in 2012

TransUnion Auto InfographicTransUnion 2012 Auto Loan Info

TransUnion credit agency reports that the national auto loan delinquency rate ended 2012 at a near historic low of 0.41%, down from 0.46% at the end of 2011. This is the ratio of borrowers that are 60 days or more overdue on their payments.  Auto debt per borrower continues to rise as the auto industry remains strong. This level increased to $13,747 in Q4, up 5.4% over the previous year. New loans were up 15.8 year over year and sub-prime loan originations have been increasing to nearly one third of overall auto loans since 2010 when the share of sub-prime auto loans was only 27.6%.

Mississippi and Louisiana topped the list of states with the most delinquent auto loans with 0.76% and 0.72% respectively and the states with the largest bank auto debt per borrower averages are Texas and Wyoming. Texas' $15,850 per borrower is 16.8% greater than the national average.

Since 1992, TransUnion has been aggregating randomly sampled consumer records at the county, Metropolitan Statistical Area (MSA), state and national levels, pulled from their database of 27 million anonymous records.

For the complete report see TransUnion's web site, offering detailed statistics on auto loans in the U.S.