Auto finance defaults declined in May.

The S&P/Experian Consumer Credit Default Indices show auto finance defaults declined to 0.87 percent from 0.94 percent in April. The indices represent a comprehensive measure of changes in consumer credit defaults.

Overall, the composite rate fell to 0.83 percent in May.

Four of the major metropolitan statistical areas showed lower default rates compared to last month.

Dallas showed the largest decrease. Miami was the only city with an increase.