Auto finance growth outlook sparks confidence
The trick is to think positive and focus on successful personal finance decisions. By Trent Hamm ,Guest blogger / August 21, 2013 A woman takes a deposit box out of a compartment in the safe room of an Austrian bank in Vienna. Heinz-Peter Bader/Reuters/File Enlarge When Im writing articles for The Simple Dollar, Im always scouring my life forpositivepersonal finance stories to share. What things have I done that haveworkedfor me? What principles have I seen show up time and time again in my life?
In the second quarter this year, the average debt per loan was $13,435, up about 4 percent from $12,875 in the 2012 period. Despite the increase, buyers with prime and subprime credit are managing to make payments on time at almost exactly the same rate as a year ago, Turek said. Among all borrowers, only 0.80 percent of auto loans were 60 or more days delinquent in the second quarter of 2013. That was a slight increase from 0.79 percent a year earlier, TransUnion said. Loans that are delinquent 60 or more days are the most likely to be written off as bad loans.