The U.S. auto loan delinquency rate ended the last three months of last year at 1.14 percent, the trend suggests borrowers with auto loan calculator continue to keep up with payments, even as auto loan debt per borrower has grown steadily.
That's one reason TransUnion predicts car loan delinquency will decline to 1.02 percent for the January-March quarter.
As more drivers have gone car shopping, lenders have responded, Some 32.5 percent of new car loan issued in the third quarter were made to nonprime borrowers, making loans available to more borrowers, even those with less-than-perfect credit.
The increase was broad, with every state posting a bump in car payment debt per borrower in the quarter, that seasonal trend also drove up the late-payment rate on auto loans in the last three months of 2013.
U.S. car owners are carrying higher car loan balances but still making timely monthly payments.
Typically, the late-payment rate on auto loan calculator, credit cards and mortgages rises in the October-December quarter.