Auto Loan Delinquencies Slowly Shrinking

- August 17, 2011

Auto loan defaults crept down­ward to 1.27 per­cent in July, accord­ing to the S&P/Experian Con­sumer Cred­it Default Indices. That’s down slight­ly from 1.29 per­cent in June, and marked­ly low­er than last July’s 1.96 per­cent. “Despite high unem­ploy­ment rates, con­sumers con­tin­ue to improve their finan­cial posi­tions, result­ing in low­er default rates than we were see­ing dur­ing the reces­sion,” accord­ing to David Blitzer, man­ag­ing direc­tor and chair­man of the index com­mit­tee for S&P Indices.