Auto Loan Delinquencies Increase

By Staff Writer November 24, 2021

Kroll Bond Rating Agency reported a rise in delinquencies, according to its auto loan ABS indices for October 2021.

Early-stage delinquencies (30-59 days past due) in Kroll’s Prime Auto Loan Index increased 4 basis points (bps) month-over-month (MoM) to 0.84%, while late-stage delinquencies (60+ days past due) rose 1 bp to 0.29%. Meanwhile, early- and late-stage delinquencies in Kroll’s Non-Prime Auto Loan Index were up 42 bps and 29 bps MoM, respectively, at 7.2% and 3.94%. Annualized net losses (ANL) trended somewhat higher in their prime index versus the previous month but remained relatively flat in our non-prime index. However, net loss rates remained well below pre-pandemic levels as elevated used vehicle values have continued to support loan recovery rates.

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Last modified on Thursday, 02 December 2021 15:23