Losses across securitized auto loans rose year over year in March but improved on a month-to-month basis as borrowers received tax refunds. The annualized net loss (ANL) rate for securitized nonprime auto loans sat at 9.97%, up 97 basis points (bps) YoY but down 125 bps MoM, according to Kroll Bond Rating Agency’s auto loan asset-backed securitization index published April 17. The ANL rate for securitized prime auto loans was 0.71%, up 6 bps YoY but down 13 bps MoM. Tax season typically […]
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