Auto loan delinquency rates jumped nearly 13% in the last year, according to a new report by Transunion, with young (under-30) Americans seeing a 17.8% surge in 60 day delinquency rates, as auto loan debt rose for the 14th straight quarter to $17,352. While these are notable rises, the overall levels remain low for now, but subprime-loan-delinquencies rose notably to 5.31%. However, in a somewhat stunningly blinkered conclusion, Transunion’s Peter Terek notes “the uptick in delinquency reflects a healthy and thriving auto finance industry where credit is more broadly available to all consumers.”
This post was published at Zero Hedge on 11/24/2014.
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