N.H. auto loan delinquency rate falls
The 60-day auto loan delinquency rate in New Hampshire decreased to 0.5 percent in the second quarter of 2009, down from 0.69 percent from the first quarter, according to credit agency TransUnion.
The rate of auto loan borrowers 60 or more days past due is the second-best in New England and seventh best in the nation.
Rhode Island car owners had a delinquency rate of 0.43 percent, ranked fourth best in the country, and the top rate regionally.
Maine had New England’s worst delinquency rate at 0.81 percent of borrowers 60 days past due, followed by Vermont at 0.75 percent, Connecticut, 0.69 percent, and Massachusetts, 0.66 percent.
The country’s average delinquency rate for the second quarter was 0.73 percent, down from 0.83 percent in the first quarter, with Mississippi having the highest delinquency rate at 1.29 percent and Alaska having the nation’s lowest at 0.33 percent.
According to TransUnion, the average car loan balance in New Hampshire was $11,394 in the quarter. The nation’s average loan balance was $12,560.
TransUnion examines approximately 27 million anonymous, randomly sampled, individual credit files, representing approximately 10 percent of credit-active U.S. consumers on a quarterly basis to analyze how they are managing their credit health. — CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW