Vehicle Repossessions Drop, Says Experian Automotive Report

Experian Automotive - August 13, 2013

Auto­mo­tive finance has been giv­en a bit of a reprieve, accord­ing to a new Exper­ian Auto­mo­tive study. Quar­ter­ly repos­ses­sions dropped by 14.8% in Q2 2013 – the low­est rate since it began track­ing data sev­en years ago. Accord­ing to its lat­est State of the Auto­mo­tive Finance Mar­ket report, 0.36% of all vehi­cle loans end­ed in a repos­ses­sion, down from 0.43% in Q2 2012. It also rep­re­sent­ed a 10.4% decrease from the low point of 0.41% in Q2 2006.

Con­sumers in the sec­ond quar­ter have done an excep­tion­al job of meet­ing their finan­cial oblig­a­tions to keep the mar­ket strong, said Melin­da Zabrit­s­ki, Experian’s senior direc­tor of Auto­mo­tive Cred­it.



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