Auto loan volumes rise as delinquencies continue to decline

Total balances of automotive loan portfolios rose for all types of lending organizations in Q2 2012, reaching $682 billion, compared with $646 billion in Q2 2011. Despite this strong growth, overall loan balances still lag behind prerecession levels. In Q2 2007, outstanding loan balances reached $701 billion. The average 30 and 60 day delinquency rate fell slightly year over year across all types of lending organizations, including banks, captive finance, finance companies and credit unions.

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Source: Experian press release dated — Aug 8, 2012: Loan delinquencies and automotive repossessions drop in Q2, according to Experian Automotive.