The Truth About Cars » Delinquency http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Mon, 14 Jul 2014 16:00:14 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.1 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars » Delinquency http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com Experian: Subprime Financing, Delinquencies To Grow in 2014, 100 Month Terms Coming Soon http://www.thetruthaboutcars.com/2014/02/experian-subprime-financing-delinquencies-to-grow-in-2014-100-month-terms-coming-soon/ http://www.thetruthaboutcars.com/2014/02/experian-subprime-financing-delinquencies-to-grow-in-2014-100-month-terms-coming-soon/#comments Thu, 06 Feb 2014 15:41:19 +0000 http://www.thetruthaboutcars.com/?p=734801 Experian HQ

Just over five years after the Great Recession tightened consumer lending standards on everything from cars to houses, Experian Automotive is forecasting growth in the subprime market for 2014, including longer loan terms and increased delinquencies.

Automotive News cites Experian Automotive Senior Director of Automotive Credit Melinda Zabritski as saying that most vehicle financing is still in the prime lending market, butthe subprime market continues to grow as more lenders return to the space vacated en masse back in Q3 2008. Whether the market continues to grow depends on how many of those loans go into delinquency, though Zabritski expects a modest increase in delinquencies this year in comparison to the run-up to Q3 2008 beginning in 2007.

As far as the length of those loans are concerned, she sees 72-month terms becoming common as lenders compete for business while consumers negotiate for favorable monthly payments. The average term loan currently holds at 65 months, but Zabritski sees that average steadily climb as more 72-month loans are made with no sign of stabilizing five years forward, and terms over 100 months emerging soon.

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Auto Loan Delinquencies To Rise In 2010? http://www.thetruthaboutcars.com/2009/12/auto-loan/ http://www.thetruthaboutcars.com/2009/12/auto-loan/#comments Wed, 16 Dec 2009 19:24:27 +0000 http://www.thetruthaboutcars.com/?p=339397 Still in business...

Credit reporting agency TransUnion is forecasting a rise in auto loan delinquencies next year, adding to the list of factors that could slow a turnaround in auto sector sales and profits in 2010. 60-day auto loan delinquency has been rising throughout 2009, reports the WSJ, as tighter lending standards have increased the ratio of delinquencies in outstanding loans. Those tighter standards sill contribute to a slight downturn in delinquencies in the first half of next year TransUnion’s Peter Turek tells Automotive News [sub], but by halfway through the year those numbers should increase again. Nationwide, TransUnion reckons .92 of all auto loans will be in delinquency by the end of 2010, compared to .86 at the end of this year. The average national auto debt is $12,542, and the Freep reports that loan terms are falling and average credit scores for approved loans are rising.

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