Automotive delinquencies increase in twenty-two states

June 2, 2014 by Stacie Baker

Although 60-day automotive loan delinquencies fell 1.7 percent at a national level when comparing Q1 2014 to Q1 2013, twenty-two states actually experienced a delinquency increase. Delaware showed the sharpest increase, moving up by nearly 10 percent. Other states among the top five for increased 60-day delinquencies include:

  • Montana – 8.9 percent increase
  • Nebraska – 7.9 percent increase
  • Iowa – 6.6 percent increase
  • New Jersey – 5.8 percent increase

With so many states experiencing increases in automotive loan delinquencies, lenders need to monitor and adjust credit risk strategies regularly in order to minimize risk.