Fewer People Late On Car Payments

By: Car,payment,credit,score,load,high,risk,borrower
By: Car,payment,credit,score,load,high,risk,borrower
To join the conversation on this story and others, "like" our KKTV 11 News Facebook page!

A credit reporting agency says that while high-risk borrowers got more auto loans, people are doing better at keeping up the payments.

TransUnion says that for the January to March quarter, the rate of U.S. auto loan payments at least 60 days overdue declined to 0.36 percent, or down about 27 percent from the same period last year.

That's also down about 22 percent from the last three months of 2011.

The auto loan delinquency rate has fallen on an annual basis for 10 consecutive quarters. One key reason: After the last recession, many borrowers made keeping up with their car payments a priority over other types of financial obligations.

TransUnion says that's good news for car shoppers, because it makes banks more willing to make auto loans.

Low interest rates also have helped more car buyers qualify for financing.

KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 152910155 - kktv.com/a?a=152910155
Gray Television, Inc.