Auto Finance Defaults Decline

By Staff Writer October 25, 2018

The auto finance default rate decreased to 0.89 percent in September from 0.97 percent, S&P Dow Jones Indices and Experian report.

Non-revolving credit outstanding, principally auto finance, continues to grow by 4 percent to 5 percent annually while balances on bank cards and revolving credit grew more slowly in the first half of 2018 than in 2017.

All five major cities recorded decreases in composite default rates in September and all types of credit defaults declined.

Last modified on Thursday, 25 October 2018 13:26

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