Only once during the past 12 months has the auto finance default rate topped 1%. And the April reading remained steady on a sequential basis.

This week, S&P Dow Jones Indices and Experian released data through April for the S&P/Experian Consumer Credit Default Indices. The April auto reading stayed at 0.94%, which is the same as March and 5 basis points lower than April of last year.

This past December marked the only time in the past 12 months that the auto default rate ticked above 1%. That’s when it jumped sequentially by 10 basis points to 1.03% before dropping back to 0.99% in January.

And with many experts and outlets looking back 10 years when the auto-finance industry navigated its way through the Great Recession, S&P and Experian data showed that the auto default rate stood at 2.29% before topping out in October 2009 at 2.74%.

Turning back to current times, analysts reported the composite rate — a comprehensive measure of changes in consumer credit defaults — fell 4 basis points in April to settle at 0.88%.

The bank card default rate rose 15 basis points to 3.83%.

The first mortgage default rate dipped 5 basis points lower to 0.65%.

S&P and Experian went on to mention four of the major metropolitan statistical areas showed lower default rates in April compared to the previous month.

Miami registered the largest decrease, declining 26 basis points to 1.32%.

The default rate for New York dropped eight basis points to 0.98%, while the rate for Dallas fell 7 basis points to 0.87%.

Los Angeles produced a default rate of 0.69% in April, down 1 basis point from the previous month.

Chicago was the only city with an increase, edging 1 basis point higher to 0.96%.

Jointly developed by S&P Indices and Experian, analysts noted the S&P/Experian Consumer Credit Default Indices are published monthly with the intent to accurately track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second mortgage lien.

The indices are calculated based on data extracted from Experian’s consumer credit database. This database is populated with individual consumer loan and payment data submitted by lenders to Experian every month.

Experian’s base of data contributors includes leading banks and mortgage companies and covers approximately $11 trillion in outstanding loans sourced from 11,500 lenders.