Auto Default Rate Drops

By Staff Writer February 19, 2021

The auto loan default rate was down eight basis points to 0.56 percent according to data from S&P Dow Jones Indices and Experian through January 2021 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was two basis points higher at 0.48 percent. The bank card default rate rose nine basis points to 2.72 percent. and the first mortgage default rate was up three basis points to 0.32 percent.

Four of the five major metropolitan statistical areas showed higher default rates compared to last month. The rate for Miami increased nine basis points to 0.95 percent while New York rose seven basis points to 0.49 percent. Chicago and Dallas were each up one basis point, to 0.53 percent and 0.57 percent respectively. Los Angeles was the only MSA to show a decrease, down three basis points to 0.32 percent.

The table below summarizes the January 2021 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

 National Indices



 January 2021
 Index Level

 December 2020
 Index Level

 January 2020
 Index Level





 First Mortgage




 Bank Card




 Auto Loans




 Source: S&P/Experian Consumer Credit Default Indices

 Data through January 2021

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Last modified on Monday, 22 February 2021 15:06