Credit rating agency TransUnion has reported a continued increase in delinquent auto loans in the U.S.
Among 35 states, auto loans past due by 60 days or longer as a percentage of the total hit 1.04% in Q3, climbing 17 basis points from the previous quarter.
This is the highest quarterly jump this year. Auto loan debt per borrower rose as well, totaling $16,685 in the third quarter, from $16,410 in the second quarter.
Delinquencies among subprime borrowers rose 30 basis points year over year in Q3, to 5.6%.
