30- & 60-day delinquencies hold steady in Q2

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SCHAUMBURG, Ill. –
Experian Automotive reported that both 30-day and 60-day delinquencies stayed nearly steady as of the second quarter.
Analysts indicated that the percentage of loans 30 days past due came in at 2.32 percent in Q2, down 5 basis points from a year earlier. The percentage of outstanding balances 30 days past due in Q2 stood at 2.15 percent, up 5 basis points from the year-ago quarter.
According to the latest State of the Automotive Finance Market report, the percentage of loans 60 days past due settled at 0.607, nearly flat versus a year earlier. The percentage of outstanding balances 60 days past due in Q2 came in at 0.52 percent, 4 basis points higher than a year earlier.
Experian broke down the 60-day delinquent balance figures for the four categories of credit providers it includes in each report. The figures were as follows:
— Commercial banks: $1.28 billion
— Captives: $866 million
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— Credit unions: $538 million
— Finance companies: $2.209 billion
Furthermore, analysts highlighted the states where 60-day delinquent balances are highest. The top 10 included:
1. Maryland: 1.02 percent
2. Mississippi: 0.94 percent
3. Louisiana: 0.87 percent
4. South Carolina: 0.74 percent
5. Alabama: 0.71 percent
6. New Mexico: 0.68 percent
7. Georgia: 0.67 percent
8. Nevada: 0.64 percent
9. West Virginia: 0.62 percent
10. North Carolina: 0.60 percent
10. Texas: 0.60 percent