Auto Loan Delinquency Rates 2024. Aggregate delinquency rates increased in q4 2023, with 3.1% of outstanding debt in some stage of delinquency at the end of december. The delinquency rate trend, though elevated compared to 2021 and.
In the third quarter of 2023, the auto loan delinquency ratio jumped to 2.95% — up 20 basis points from the previous quarter and 56 basis points from the same time a. The average interest rate on a loan for a new car was 7.18 percent at the end of 2023, up from 6.08 percent in 2022, experian said.
For Example, Auto Loans Originated In 2021 Have A Delinquency Rate Of 0.67% In The Sixth Quarter After Origination, Which Is 13% Higher Than The Delinquency.
Delinquency rates increased for all debt.
But There Are Still Ways To Mitigate Your Risk.
Credit card, auto loan delinquency rates rise in ny fed report.
The Average Interest Rate On A Loan For A New Car Was 7.18 Percent At The End Of 2023, Up From 6.08 Percent In 2022, Experian Said.
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Auto Loan Rates For New Vehicles In The Us Range From 4.75% To 13.42%, Depending On Credit Scores And Other Factors.
But there are still ways to mitigate your risk.
Delinquency Transition Rates Increased For All Debt Types, Except For Student Loans.
The average auto loan rate for a new car was 9.2% in december, and 13.8% for a used car loan according to auto market data company cox.
In The Third Quarter Of 2023, The Auto Loan Delinquency Ratio Jumped To 2.95% — Up 20 Basis Points From The Previous Quarter And 56 Basis Points From The Same Time A.