Auto loan default rate hits its lowest in eight-year history

Posted by carguy - June 20, 2012 - Blog - No Comments

NEW YORK — The auto loan default rate hit its lowest in the eight-year history of the S&P/Experian Consumer Credit Default Indices.
The firms reported this week the default rate for vehicle contracts ticked lower to 1.03 percent in May, down from April’s reading of 1.07 percent.
Auto loan performance was just one of the highlights of the May report. The indices produced by S&P and Experian showed that all loan types saw a decrease in default rates, most for the fifth consecutive month.


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