Credit performance on used-vehicle loans originated in Q2 2022 is deteriorating at a quicker rate compared with used-loan vintages. Meanwhile, new-vehicle finance contracts originated in Q2 2022 are performing better than vintages as 60-day delinquencies industrywide increase due to inflation. Auto loans 60-plus days past due reached 1.69% in Q1 2023, an increase of 26 basis […]
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