NY Fed: Auto Loan Delinquencies Rising in the “Sub-Prime” Market

New York, NY – 21 November 2017 – The growth in household debt can be attributed, at least in part, to the growth in auto loan balances, which have increased for 26 consecutive quarters as a result of new loan originations. In the aggregate, there are apprx. $435 billion worth of auto loans outstanding that were made to consumers with a credit score below 660.

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Is the Dam Ready to Break? Auto Delinquency on the Rise

Scary U.S. Auto Loan Debt Numbers Foreshadow Economic Downturn

Rising U.S. Auto Loan Debt a Symptom of Bubble Economics Permeating Society

Auto industry sales have come back from the “Great Recession” grave, but U.S. auto loan debt threatens to relegate the industry to purgatory. Rock-bottom interest rates have allowed consumers to gorge on debt for too long, setting the stage for the auto loan debt 2017 debacle playing out before our eyes. The bill has come due, and the auto industry is bracing for a protracted retrenchment.

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RepoPulse to Hold Free Webinar on State Of Repossession, Auto Finance Industries

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Leading Economist Will Offer Assessment of Current State, What’s On the Horizon

 

FOR IMMEDIATE RELEASE

October 3, 2016 – RepoPulse.com is excited to host a free webinar on Tuesday, October 4 at 1pm EDT to help make sure repossession agents and auto lenders are updated about the state of the auto finance and repossession industries, from an economic perspective.

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Auto Delinquencies Continue to Climb

usd_car_lotDetroit, MI, 30 September 2016 – The delinquency rate on subprime auto loans rose in August, and a credit rating agency that monitors the market said the trend likely will continue through the rest of 2016 as prices of used cars continue to fall.

The delinquency rate has been trending upward throughout 2016 and now approaches peak levels seen in late 2008 and early 2009.

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Auto Loan Losses at Six Year High – Fitch Ratings

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Banks’ loan losses from car financing have risen to a six-year high, new figures show, as the patchy labour market and the mining slump causes more borrowers to fall behind on their payments.

Fitch Ratings says the proportion of automobile loans that suffered a loss after lenders sought to repossess the vehicle rose to 0.62 per cent in the June quarter, the highest level since the index started in 2010.

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CU Recovery Collection Academy Announces Scholarships Winners

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FOR IMMEDIATE RELEASE

Wyoming, MN – June 21, 2016 – CU Recovery and The Loan Service Center, the #1 collection resource for credit unions, is pleased to announce the award of $7,200.00 in scholarships to its Fall 2016 Collection Academy.  8 scholarships were awarded to credit unions based on their submission about the goals of their collection department and how their professional development would help achieve those goals.  Recipients will receive Collection Academy tuition, lodging at the host hotel, and will be recognized during the 2.5 day conference.

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Measuring Collection Department Results Challenging the Status Quo

cu_rcvryFOR IMMEDIATE RELEASE

Wyoming, MN May 19, 2015.      Most companies apply performance measurements to evaluate their success at reaching targets, as well as their effectiveness in achieving key business objectives. Credit union collection departments also look at performance indicators to measure recoveries, delinquency levels, and the number of charge offs.  CU Recovery, the leading collection resource for credit unions, observes that when collection departments concentrate on metrics and averages, overall performance can be diminished. The company agrees, that while performance indicators are important factors, it has nonetheless reverse engineered the traditional mindset in order to establish a focus on collection call quality as a key factor in improving process and impacting financial results.

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Experian Automotive: Outstanding Auto Loan Balances Reach Record High of $839.1 Billion

experian_logo30- and 60-day delinquencies show slight uptick

Press Release

Schaumburg, Ill., Aug. 20, 2014 — Experian Automotive today announced that outstanding automotive loan balances reached an all-time high in the second quarter of 2014.

Other findings include:

• The overall automotive repossession rate saw a significant increase in the second quarter of 2014, jumping more than 70 percent to 0.62 percent from a year earlier.

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National Auto Loan Delinquency Rate Remains Flat While Debt Grows

transunionPress Release

CHICAGO, IL–(Marketwired – Aug 20, 2013) – The national auto loan delinquency rate (the percentage of accounts 60 or more days past due) remained relatively flat year over year moving from 0.79% in Q2 2012 to 0.80% in Q2 2013. On a quarter-over-quarter basis, the auto loan delinquency rate experienced an 8-basis point drop from 0.88% in Q1 2013.

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Experian: Auto Repossessions Reach Lowest Rate on Record

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Thirty-day delinquencies drop and 60-day delinquencies remain flat as auto lending market stays strong

Press Release

Schaumburg, Ill., Aug. 13, 2013 — Experian Automotive today announced that quarterly vehicle repossessions dropped by 14.8 percent to achieve the lowest rate since it began tracking the data seven years ago. According to its latest State of the Automotive Finance Market report, 0.36 percent of all vehicle loans ended in a repossession, down from 0.43 percent in Q2 2012. This change also represented a 10.4 percent decrease from the previous low of 0.41 percent in Q2 2006.

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