LOANS NEWS AND GUIDES

According to TransUnion’s annual auto loan forecast, the national auto loan delinquency rate will increase about seven percent to 0.92 percent by the end of 2010. The 60-day delinquency rate is expected to be at 0.86 percent at the end of 2009. “Our forecast indicates we will see auto loan delinquencies drop in the first and second quarters of 2010 due to many factors such as ‘cash for clunkers’ and tightening lending standards,” said Peter Turek, automotive vice president in TransUnion’s financial services group. “Delinquencies will rise in the second half of 2010 as economic pressures, along with traditional spending patterns of summer vacations, back to school and the holidays, will continue to strain consumers

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Auto Loan Delinquencies Predicted to Decrease and Increase in 2010, Depending on Where You Live