• DD-Square-Logo_resized
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Agenda Summary
      • Hotel & Travel
      • FAQ
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Console
    • Education
      • Overview
      • Show Schedule
  • ABOUT
    • Conference Overview
    • Testimonials
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Contact Us
    • Get Updates
  • RESOURCES
    • Webinars
    • Downloads
  • NEWS
    • Auto Retail News
    • Digital Editions
    • Press Releases
    • Submit Editorial
    • Subscribe
  • .
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Agenda Summary
      • Show Schedule
      • Hosted Dealer Program
      • Hotel & Travel
      • FAQ
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Console
      • Exhibitor Services Manual
    • Education
      • Conference Overview
      • Conference Speakers
      • Session Schedule
  • RESOURCES
    • Webinars
    • Downloads
  • ABOUT
    • Conference Overview
    • Testimonials
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Get Updates
  • NEWS
    • AUTO RETAIL NEWS
    • PRESS RELEASES
    • DIGITAL EDITIIONS
    • SUBMIT EDITORIAL
    • SUBSCRIBE

Las Vegas: Oct 17-19, 2023

REGISTER NOW EXHIBIT / INQUIRE
Q

NEWS:

Finance & Insurance News
March 23, 2012

Auto Loans Default Rates Declined in February 2012

Posts:
Finance & Insurance News
March 23, 2012

Auto Loans Default Rates Declined in February 2012

NEW YORK — Data through February 2012, released today by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that all loan types saw a decrease in default rates for a second consecutive month. The national composite declined to 2.09% in February from the 2.16% January rate. The first mortgage default rate decreased from January’s 2.08% to February’s 2.02%. Second mortgage, bank card and auto loans default rates also declined from 1.30%, 4.57% and 1.27% in January to 1.20%, 4.41% and 1.22% in February, respectively.

“It seems that 2012 has begun on a positive note for the consumer,” says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices. “We appear to be resuming the downward trend in consumer default rates that began in the spring of 2009. With last month’s release we reported that the second half of 2011 saw a rise in consumer defaults, led by four consecutive monthly increases in first mortgage default rates. January and February’s combined reports shows broad based declines in all types of default rates, which is a good way to start the year.

“The first mortgage default rate fell by six basis points in February, bringing this rate closer to the lows seen in the summer of 2011. Second mortgage and bank card default rates fell by even more during that month.  In fact, both second mortgage and bank card default rates are their lowest in the three-year history of these data.  While bank cards tend to have the highest default rate, at 4.41 % it is now less than half of the 9.15% recorded less than two years ago.

“Four of the five cities we cover saw their default rates drop.  For the second consecutive month, Los Angeles saw the largest decline, moving from 2.54% in December, to 2.36% in January, to 1.87% in February. After three consecutive months of increasing default rates, Miami’s fell from 4.80% in January to 4.54% in February.  It had the highest default rate of the cities we cover, which is no surprise given the relative state of its housing market. Dallas was the only city where default rates rose, from 1.53% to 1.61%, but it still retains the lowest rate among the five cities we follow.”

The table below summarizes the February 2012 results for the S&P/Experian Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

S&P/Experian Consumer Credit Default Indices  
National Indices  
 Index February 2012
Index
Level
January 2012
Index
Level
February 2011
Index
Level
 
 
 Composite 2.09 2.16 2.54  
 First Mortgage 2.02 2.08 2.45  
 Second Mortgage 1.20 1.30 1.46  
 Bank Card 4.41 4.57 5.67  
 Auto Loans 1.22 1.27 1.58  
Source: S&P/Experian Consumer Credit Default Indices    
Data through February 2012      

The table below provides the S&P/Experian Consumer Default Composite Indices for the five MSAs:

Metropolitan
Statistical Area
February 2012
Index
Level
January 2012
Index
Level
February 2011
Index
Level
 
 
New York 2.04 2.23 2.53  
Chicago 2.71 2.76 2.82  
Dallas 1.61 1.53 1.78  
Los Angeles 1.87 2.36 2.70  
Miami 4.54 4.80 6.05  
Source: S&P/Experian Consumer Credit Default Indices  
Data through February 2012      

About S&P Indices
S&P Indices, a leading brand of the McGraw-Hill Companies (NYSE: MHP), maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.45 trillion is directly indexed to our indices, which includes the S&P 500, the world’s most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry’s most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit: www.standardandpoors.com/indices.

It is not possible to invest directly in an index. S&P Indices does not sponsor, endorse, sell, or promote any S&P index-based investment product. This document does not constitute an offer of services in jurisdictions where S&P Indices or its affiliates do not have the necessary licenses. S&P Indices receives compensation in connection with licensing its indices to third parties.

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was $4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.

For more information, visit http://www.experianplc.com.

Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.

Finance & Insurance News

SHARE

Share on Email
Share on Linkedin
Share on Facebook
Share on Pinterest
Share on Twitter
← Previous Article Next Article →
Posts Industry Press Releases

Focus Advisors Represents Vinart Dealerships in their Body Shop Sale and Services Agreement

Posts Sales & Variable OpsTrending Industry News

The Power of Transparency in Used Vehicle Sales

Posts Industry Press Releases

Focus Advisors Represents Vinart Dealerships in their Body Shop Sale and Services Agreement

Posts Marketing & AdvertisingTrending Industry News

How Digital Marketing Propels the New Way to Sell Cars

Posts Dealer Ops & LeadershipTrending Industry News

Standing Too Close to the Elephant

Posts Sales & Variable OpsTrending Industry News

Enhancing and Transforming the Automotive Sales/Service/Parts Lifecycle with ChatGPT

Posts Dealer Ops & LeadershipTrending Industry News

Four Steps for Successful Digital Retail Adoption

Posts Dealer Ops & LeadershipTrending Industry News

The Who, What, Where and How of AI-Built Solutions

NEWSLETTER

SUBSCRIBE

DEALER MAGAZINE

Dealer Magazine March/April 2023 Issue Featuring an Interview with NADA 2023 Chairman
MAGAZINE
Digital Dealer Logo White
FOLLOW US ON
  • Follow
  • Follow
  • Follow
  • Follow
  • Follow
© 2023 Emerald X, LLC. All Rights Reserved.
ABOUT    CAREERS    AUTHORIZED SERVICE PROVIDERS    TERMS OF USE    PRIVACY POLICY