Auto loan delinquency trends mixed in Q2, according to Sub Prime Auto Finance News.
The American Bankers Association’s Consumer Credit Delinquency Bulletin showed mixed trends in regard to auto-loans during the second quarter.
ABA found that Q2 delinquencies for direct auto loans — contracts arranged directly through a bank — fell year-over-year from 0.91 percent to 0.88 percent.
However, second-quarter delinquencies for indirect auto loans — contracts arranged through a third party such as a dealer — rose year-over-year from 1.66 percent to 1.72 percent.
The association determined consumer delinquencies rose slightly across most loan categories in the second quarter but remain significantly below their 15-year average.