Subprime auto loans trigger Q1 national delinquency rate uptick, according to SubPrime Auto Finance News.
CHICAGO — TransUnion didn’t hesitate in stating the slight uptick in the national auto loan delinquency rate occurred because of a rise in delinquencies for subprime borrowers.
This week, analysts found that delinquencies for subprime buyers crept up to 5.50 percent in the first quarter from 5.09 percent a year earlier.
As a result, the national auto loan delinquency rate — what TransUnion defines as the percentage of accounts 60 or more days past due — increased slightly year-over-year during the first quarter, ticking up from 0.82 percent to 0.88 percent.
