More Americans paying their car loans on time

Nearly everyone in America with a car loan is making the payment on time, the Detroit Free Press is reporting. A scant .36 percent of people with a car loan are 60 or more days behind on making their payment, according to a TransUnion report looking at the January through March quarter of auto loan payments. That means more than 99-percent of customers borrowing cash for cars are on time.
The tiny percentage, which represents a drop of about 27 percent year-over-year is the lowest since TransUnion started tracking it in 1999.

The fall in loan delinquency, however, may not be great news for banks overall.

Autoblog

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