Auto Defaults Reach Lowest Point of Year Featured

By Staff Writer June 26, 2018

The auto finance default rate has steadily fallen in 2018 and now is at its lowest rate since July 2017, according to S&P Dow Jones Indices and Experian.

The S&P/Experian Consumer Credit Default Indices for May show the auto loan default rate fell to 0.93 percent from 0.99 percent in April.

Three of the five major cities saw decreases in composite default rates in May.

The rate in Miami saw its first decline after increases each month of the year.

Last modified on Tuesday, 26 June 2018 00:59

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